Property, Plant and Equipment, Net

3 Months Ended

Mar. 31, 2025

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,
	2025		2024
Property, plant and equipment:
Machinery and equipment, at cost	$	67,437	$	67,917
Less: accumulated depreciation and amortization		(44,231)		(44,065)
Building, at cost		138,269		137,420
Less: accumulated depreciation and amortization		(27,445)		(26,310)
Leasehold improvements, at cost		7,649		7,575
Less: accumulated depreciation and amortization		(6,450)		(6,347)
Construction in progress		23,806		23,531
	$	159,035	$	159,721

As of March 31, 2025, the balance of construction in progress was $23.8 million, of which $18.3 million was related to our buildings in our new Dingxing and Kazuo locations, $1.2 million was for manufacturing equipment purchases not yet placed in service and $4.3 million was for construction in progress for our other consolidated subsidiaries. As of December 31, 2024, the balance of construction in progress was $23.5 million, of which $17.9 million was related to our buildings in our Dingxing and Kazuo locations, $1.4 million was for manufacturing equipment

purchases not yet placed in service and $4.3 million was for our construction in progress for our other consolidated subsidiaries.