Property, plant and equipment are recognized at acquisition cost less accumulated depreciation and any impairment losses. Acquisition costs include expenditures that are directly attributable to the acquisition of the asset and costs to ready it for use.

Depreciation is expensed on a straight-line basis over the estimated useful lives of the assets. If components of property, plant and equipment have different useful lives, they are accounted for separately.

Depreciation methods, useful lives and residual values are reviewed at each reporting date and adjusted, if appropriate.

Any gain or loss on disposal of an item of property, plants and equipment is determined by comparing the proceeds from disposal with the carrying amount of the item. The net amount is recognized in the statement of consolidated operations under the line item “Other operating income and expenses.”


	Lands and Buildings			Technical equipment			Fixtures, fittings and other equipment			Assets under construction			Total
	$ in thousands
Net book value as of January 1, 2023		9,321			51,072			2,277			952			63,621
Additions		-			60			19			993			1,071
Disposal		(173	)		(153	)		(1	)		(64	)		(391	)
Reclassification		332			258			3			(593	)		-
Depreciation & impairment expense		(1,911	)		(7,191	)		(963	)		-			(10,064	)
Translation adjustments		298			85			20			40			443
Net book value as of December 31, 2023		7,868			44,131			1,354			1,328			54,681
Gross value at end of period		18,544			73,483			4,973			1,271			98,270
Accumulated depreciation and impairment at end of period		(10,676	)		(29,351	)		(3,619	)		57			(43,589	)

Net book value as of January 1, 2024		7,868			44,131			1,354			1,328			54,681
Additions		20			652			113			1,885			2,670
Disposal		-			(38	)		(3	)		(26	)		(67	)
Reclassification		715			2,008			151			(2,873	)		-
Depreciation & impairment expense		(1,864	)		(8,467	)		(411	)		-			(10,742	)
Translation adjustments		(426	)		(163	)		(27	)		(31	)		(647	)
Net book value as of December 31, 2024		6,312			38,123			1,177			282			45,895
Gross value at end of period		18,139			75,222			5,100			186			98,647
Accumulated depreciation and impairment at end of period		(11,827	)		(37,099	)		(3,923	)		97			(52,752	)

Net book value as of January 1, 2025		6,312			38,123			1,177			282			45,895
Additions		-			548			51			1,784			2,383
Reclassification		393			921			63			(737	)		640
Depreciation & impairment expense		(1,958	)		(9,004	)		(364	)		-			(11,326	)
Translation adjustments		764			350			50			34			1,197
Net book value as of December 31, 2025		5,510			30,938			977			1,363			38,788
Gross value at end of period		20,920			76,506			5,166			1,363			103,954
Accumulated depreciation and impairment at end of period		(15,410	)		(45,568	)		(4,189	)		-			(65,166	)

For the year ended December 31, 2025, we continued our investments in research and development equipment in both the United States of America and France.

Assets under construction primarily relate to Cellectis’ raw and starting materials manufacturing facility and offices in Paris.

In 2025, approximately $9.1 million of our PP&E related to France, while approximately $29.7 million related to the United States.

In 2024, approximately $10 million of our PP&E related to France, while approximately $36 million related to the United States.

In 2023, approximately $12.0 million of our PP&E related to France, while approximately $43.0 million related to the United States.