Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net

Note 5. Property, Plant and Equipment, Net

The components of our property, plant and equipment are summarized below (in thousands):

	December 31,		December 31,
	2022		2021
Property, plant and equipment:
Machinery and equipment, at cost	$	62,797	$	59,284
Less: accumulated depreciation and amortization		(38,477)		(40,292)
Building, at cost		118,550		108,782
Less: accumulated depreciation and amortization		(20,403)		(18,710)
Leasehold improvements, at cost		7,430		7,039
Less: accumulated depreciation and amortization		(5,559)		(5,352)
Construction in progress		36,679		31,664
	$	161,017	$	142,415

As of December 31, 2022, the balance of construction in progress was $36.7 million, of which $27.2 million was related to our buildings in our Dingxing and Kazuo locations, $5.4 million was for manufacturing equipment purchases not yet placed in service and $4.1 million was from our construction in progress for our other consolidated subsidiaries. As of December 31, 2021, the balance of construction in progress was $31.7 million, of which $22.7 million was related to our buildings in our Dingxing and Kazuo locations, $3.0 million was for manufacturing equipment purchases not yet placed in service and $6.0 million was from our construction in progress for our other consolidated subsidiaries. 

Depreciation and amortization expense was $8.1 million, $7.1 million and $4.3 million for the years ended December 31, 2022, 2021 and 2020, respectively.