PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2022

Property, Plant and Equipment [Abstract]

PROPERTY, PLANT AND EQUIPMENT

PROPERTY, PLANT AND EQUIPMENT

The carrying value and estimated useful lives of property, plant and equipment are as follows:

		December 31,
(In thousands)	Estimated Useful Life	2022		2021
Property, plant and equipment
Land	n/a	$	4,716	$	4,716
Leasehold and building improvements	(1)	200,588		147,083
Land improvements	15 years	6,417		5,206
Buildings	30 - 40 years	288,941		210,560
Computer equipment and computer software	3 years	142,896		109,119
Laboratory equipment	3 - 10 years	246,344		189,748
Furniture and fixtures	3 - 10 years	34,047		28,293
Assets under construction	n/a	68,398		100,339
Property, plant and equipment, at cost		992,347		795,064
Accumulated depreciation		(307,591)		(214,816)
Property, plant and equipment, net		$	684,756	$	580,248

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(1)     Lesser of remaining lease term, building life, or estimated useful life.

Depreciation expense for the years ended December 31, 2022, 2021, and 2020 was $100.1 million, $85.3 million, and $70.0 million, respectively.

At December 31, 2022, the Company had $68.4 million of assets under construction, which consisted of $45.2 million in laboratory equipment under construction, $10.9 million in buildings under construction, $10.0 million of capitalized costs related to software projects, $2.2 million in leasehold improvements, and minimal amounts for land improvements and furniture and fixtures. Depreciation will begin on these assets once they are placed into service upon completion.