Annual report [Section 13 and 15(d), not S-K Item 405]

PROPERTY, PLANT AND EQUIPMENT

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PROPERTY, PLANT AND EQUIPMENT
 12 Months Ended
Dec. 31, 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:
As of December 31,
2024 2023
Buildings and building components $ 89,124  $ 88,527 
Land 12,956  12,956 
Leasehold improvements 47,514  46,660 
Machinery and equipment 23,959  27,050 
Furniture, fixtures and office equipment (including computer) 22,597  21,146 
Construction-in-process 2,533  1,968 
Total property, plant and equipment - gross 198,683  198,307 
Less: Accumulated depreciation (54,620) (39,039)
Total property, plant and equipment - net $ 144,063  $ 159,268 
Construction-in-process represents assets under construction for manufacturing and retail build-outs not yet ready for use.
Total depreciation was $18,851 and $17,961 for the years ended December 31, 2024 and 2023, respectively. Interest expense capitalized to PPE totaled $75 and $523 for the years ended December 31, 2024 and 2023, respectively.
As of December 31, 2024 and December 31, 2023, the Company reclassified $611 and $1,647, respectively, from Property, plant and equipment, net to Assets held for sale. Refer to Note 4 - Prepaid Expenses and Other Current Assets for additional information.