Property, Plant and Equipment, Net

9 Months Ended

Sep. 30, 2024

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):

	September 30,		December 31,
	2024		2023
Property, plant and equipment:
Machinery and equipment, at cost	$	68,288	$	65,918
Less: accumulated depreciation and amortization		(44,429)		(42,112)
Building, at cost		142,371		125,786
Less: accumulated depreciation and amortization		(26,463)		(23,339)
Leasehold improvements, at cost		7,828		7,596
Less: accumulated depreciation and amortization		(6,446)		(5,984)
Construction in progress		25,310		38,483
	$	166,459	$	166,348

As of September 30, 2024, the balance of construction in progress was $25.3 million, of which $18.5 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 $4.5 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.