| Property, Plant and Equipment, net |
Note 4. Property, Plant and Equipment
Property, plant and equipment, net, consisted of the following:
|
|
|
|
|
|
|
|
|
|
|
(in thousands) |
|
Estimated Useful Life (Years) |
|
September 30, 2021 |
|
|
December 31, 2020 |
|
Land and improvements |
|
20 |
|
$ |
92 |
|
|
$ |
92 |
|
Leasehold improvements |
|
Shorter of useful life or lease term |
|
|
24,476 |
|
|
|
20,932 |
|
Buildings |
|
15-40 |
|
|
2,114 |
|
|
|
2,089 |
|
Machinery and equipment |
|
5-20 |
|
|
95,493 |
|
|
|
64,164 |
|
Motor vehicles |
|
7-10 |
|
|
874 |
|
|
|
693 |
|
Furniture and fixtures |
|
7-10 |
|
|
414 |
|
|
|
221 |
|
Office equipment |
|
3-10 |
|
|
3,202 |
|
|
|
2,089 |
|
Construction in progress |
|
N/A |
|
|
122,079 |
|
|
|
36,146 |
|
|
|
|
|
|
248,744 |
|
|
|
126,426 |
|
Accumulated depreciation and amortization |
|
|
|
|
(26,211 |
) |
|
|
(19,631 |
) |
Property, plant and equipment, net |
|
|
|
$ |
222,533 |
|
|
$ |
106,795 |
|
We reported depreciation and amortization expense (which included amortization of intangible assets) as follows:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Three Months Ended September 30, |
|
|
Nine Months Ended September 30, |
|
(in thousands) |
|
2021 |
|
|
2020 |
|
|
2021 |
|
|
2020 |
|
Cost of revenue |
|
$ |
2,110 |
|
|
|
644 |
|
|
$ |
5,899 |
|
|
$ |
2,080 |
|
Selling, general and administrative |
|
|
123 |
|
|
|
159 |
|
|
|
315 |
|
|
|
219 |
|
Research and development |
|
|
946 |
|
|
|
176 |
|
|
|
1,275 |
|
|
|
489 |
|
Total depreciation and amortization expense |
|
$ |
3,179 |
|
|
$ |
979 |
|
|
$ |
7,489 |
|
|
$ |
2,788 |
|
Construction in progress consists primarily of the conversion and build-out of our facility in Winchester, Kentucky. Property, plant and equipment includes capitalized interest of $5.4 million and $5.1 million as of September 30, 2021 and December 31, 2020, respectively. For the three and nine months ended September 30, 2021 and 2020, interest costs of $0.1 million and $0.3 million and $1.3 million and $3.1 million, respectively, were capitalized to property, plant and equipment.
|