Property and Equipment

6 Months Ended

Jun. 30, 2022

Property and Equipment

Property and Equipment

Note 6 – Property and Equipment

Property and equipment consisted of the following (in thousands):

	Estimated
	Useful Life	June 30, 2022		December 31, 2021
Land	N/A	$	51,612	$	54,868
Land held for sale	N/A		3,173		—
Building and leasehold improvements	3-39 years		26,745		25,712
Production equipment	3-5 years		54,879		54,090
Computers, equipment and software	3-5 years		21,338		15,343
Furniture and office equipment	3-5 years		7,407		6,838
Vehicles	5 years		3,624		2,932
Website development costs	3 years		204		204
Capitalized internal-use software development costs	3-5 years		13,994		11,996
Construction-in-process	N/A		42,904		25,258
Total cost			225,880		197,241
Less: Accumulated depreciation			(67,964)		(58,784)
Property and equipment, net		$	157,916	$	138,457

During the three months ended June 30, 2022, we reclassified a plat of land as held for sale which we anticipate dedicating to the City of Scottsdale pursuant to our existing public infrastructure reimbursement development agreement.

Construction-in-process includes $21.2 million and $12.4 million related to the development of our new campus at June 30, 2022 and December 31, 2021, respectively.