PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

The following tables show the Company’s gross property and equipment by major asset class and accumulated depreciation as of the years ended December 31:

(in thousands)	2023		2022
Land	$	1,549	$	1,549
Buildings	17,875		16,659
Machinery, furniture, and equipment	50,412		53,146
Construction in progress	7,692		4,604
	77,528		75,958
Less: accumulated depreciation	(32,935)		(32,712)
Property and equipment, net	$	44,593	$	43,246

Depreciation expense for the years ended December 31, 2023, 2022, and 2021 totaled $7.5 million, $7.4 million, and $5.5 million, respectively. During the years ended December 31, 2023, 2022, and 2021 there was $0.6 million, $0.1 million, and $0.1 million, respectively, of interest capitalized into construction in progress, respectively.