Property, Plant and Equipment, Net

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

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):

	June 30,		December 31,
	2024		2023
Property, plant and equipment:
Machinery and equipment, at cost	$	66,958	$	65,918
Less: accumulated depreciation and amortization		(42,793)		(42,112)
Building, at cost		137,407		125,786
Less: accumulated depreciation and amortization		(24,562)		(23,339)
Leasehold improvements, at cost		7,571		7,596
Less: accumulated depreciation and amortization		(6,115)		(5,984)
Construction in progress		22,866		38,483
	$	161,332	$	166,348

As of June 30, 2024, the balance of construction in progress was $22.9 million, of which $16.3 million was related to our buildings in our new Dingxing and Kazuo locations, $2.3 million was for manufacturing equipment purchases not yet placed in service and $4.2 million was for construction in progress for our other consolidated subsidiaries. As of December 31, 2023, the balance of construction in progress was $38.5 million, of which $31.2

million was for our buildings in our new Dingxing and Kazuo locations, $3.1 million was for manufacturing equipment purchases not yet placed in service and $4.2 million was for our construction in progress for our other consolidated subsidiaries.