Property, Plant and Equipment, Net

3 Months Ended

Mar. 31, 2023

Property, Plant and Equipment, Net

Property, Plant and Equipment, Net

Note 4. Property, Plant and Equipment, Net

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

	March 31,		December 31,
	2023		2022
Property, plant and equipment:
Machinery and equipment, at cost	$	64,263	$	62,797
Less: accumulated depreciation and amortization		(39,596)		(38,477)
Building, at cost		119,066		118,550
Less: accumulated depreciation and amortization		(21,355)		(20,403)
Leasehold improvements, at cost		7,551		7,430
Less: accumulated depreciation and amortization		(5,721)		(5,559)
Construction in progress		38,316		36,679
	$	162,524	$	161,017

As of March 31, 2023, the balance of construction in progress was $38.3 million, of which $29.4 million was related to our buildings in our new Dingxing and Kazuo locations, $4.8 million was for manufacturing equipment purchases not yet placed in service and $4.1 million was for construction in progress for our other consolidated

subsidiaries. As of December 31, 2022, the balance of construction in progress was $36.7 million, of which $27.2 million was for our buildings in our new Dingxing and Kazuo locations, $5.4 million was for manufacturing equipment purchases not yet placed in service and $4.1 million was for our construction in progress at our other consolidated subsidiaries.