Property, Plant, and Equipment - Net

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment - net

8. Property, Plant and Equipment - net

	December 31,
	2022		2021
Cost
Construction in progress	$	331,500	$	214,431
Plant and buildings		334,180		273,682
Machinery and equipment		343,724		327,315
Motor vehicles		4,987		4,804
Office equipment and furniture		28,959		13,425
Leasehold improvements		215,477		210,091
Total cost	$	1,258,827	$	1,043,748
Less: Accumulated depreciation
Plant and buildings	$	39,045	$	20,474
Machinery and equipment		146,299		81,832
Motor vehicles		2,263		1,513
Office equipment and furniture		9,709		3,251
Leasehold improvements		67,730		33,380
Total accumulated depreciation	$	265,046	$	140,450
Property, plant and equipment, net	$	993,781	$	903,298

Buildings and machinery and equipment of Sinovac Dalian with a net book value of $33,643 (RMB 232.0 million) were pledged as collateral for a bank loan from China Everbright Bank (notes 12 (c)).

Net depreciation expense for the year ended December 31, 2022 was $153,819 (2021 - $84,446, 2020 - $3,693), after deduction of amortized government grants specifically related to qualified property, plant and equipment.

Loss on disposal of equipment for the year ended December 31, 2022 was $5,213 (2021 - $977, 2020 - $163).