| Property and Equipment, Net |
Property and equipment consist of the following (in thousands):
|
|
|
Estimated Useful |
|
|
December 31, |
|
|
|
|
|
Life (Years) |
|
|
2022 |
|
|
2021 |
|
|
|
Land |
|
|
— |
|
|
$ |
875 |
|
|
$ |
875 |
|
|
|
Buildings |
|
39-40 |
|
|
|
17,389 |
|
|
|
17,389 |
|
|
|
Building improvements |
|
5-40 |
|
|
|
38,952 |
|
|
|
38,651 |
|
|
|
Machinery and equipment |
|
3-15 |
|
|
|
58,542 |
|
|
|
55,334 |
|
|
|
Furniture, fixtures and office equipment |
|
5-10 |
|
|
|
2,976 |
|
|
|
2,969 |
|
|
|
Computer equipment and software |
|
|
3 |
|
|
|
8,246 |
|
|
|
8,163 |
|
|
|
Construction in progress |
|
|
— |
|
|
|
16,706 |
|
|
|
10,892 |
|
(1) |
|
|
|
|
|
|
|
|
143,686 |
|
|
|
134,273 |
|
|
|
Less accumulated depreciation |
|
|
|
|
|
|
(98,560 |
) |
|
|
(97,661 |
) |
|
|
Total property and equipment, net |
|
|
|
|
|
$ |
45,126 |
|
|
$ |
36,612 |
|
|
_________________________
|
(1) |
As of December 31, 2021 construction in progress included $4.7 million of equipment under construction for the manufacturing expansion for UT (the “UT Equipment”). There is no balance under construction for the UT Equipment as of December 31, 2022. The Company acts as agent on behalf of UT for the procurement of the UT Equipment. The Company has received $5.0 million in deposit for this service, which was recognized as deposits from customer in the consolidated balance sheet as of December 31, 2021. In April 2022, the Company and UT agreed that UT would hold title to the UT Equipment at all times. As such, there is no balance related to the UT Equipment included in construction in progress or deposits from customer in our consolidated balance sheet as of December 31, 2022. See Note 11 – Collaboration, Licensing and Other Arrangements. |
|