Quarterly report pursuant to Section 13 or 15(d)

PROPERTY, PLANT AND EQUIPMENT

v3.24.2.u1
PROPERTY, PLANT AND EQUIPMENT
 6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
PROPERTY, PLANT AND EQUIPMENT
 5. PROPERTY, PLANT AND EQUIPMENT
The components of property, plant and equipment (“PPE”) are as follows:
June 30, 2024 (unaudited) December 31, 2023
Buildings and building components $ 88,151  $ 88,527 
Land 12,956  12,956 
Leasehold improvements 47,589  46,660 
Machinery and equipment 27,051  27,050 
Furniture, fixtures and office equipment (including computer) 21,957  21,146 
Construction-in-process 193  1,968 
Property, plant and equipment, gross 197,897  198,307 
Less: Accumulated depreciation (48,592) (39,039)
Property, plant and equipment, net $ 149,305  $ 159,268 
Construction-in-process represents assets under construction for manufacturing and retail build-outs not yet ready for use.
Depreciation was $4,974 and $4,483 for the three months ended June 30, 2024 and 2023, respectively, and $9,883 and $9,295 for the six months ended June 30, 2024 and 2023, respectively. Interest expense capitalized to PPE totaled $0 and $222 for the three months ended June 30, 2024 and 2023, respectively, and $0 and $410 for the six months ended June 30, 2024 and 2023, respectively.