Property, plant and equipment, net

6 Months Ended

Jun. 30, 2019

Property Plant And Equipment [Abstract]

5. Property, plant and equipment, net

Property, plant and equipment, net, consists of the following (in thousands):

	As of			As of
	June 30, 2019			December 31, 2018
Land	$	1,210		$	1,210
Building		14,913			180,094
Computer equipment and software		6,518			6,365
Office equipment		6,308			5,584
Laboratory equipment		40,953			35,693
Leasehold improvements		21,598			183
Construction-in-progress		67,470			46,669
Total property, plant and equipment		158,970			275,798
Less accumulated depreciation and amortization		(29,835	)		(29,176	)
Property, plant and equipment, net	$	129,135		$	246,622

North Carolina manufacturing facility

In November 2017, the Company acquired a manufacturing facility, which is in the process of construction, in Durham, North Carolina for the future manufacture of lentiviral vector for the Company’s gene therapies. Construction-in-progress as of June 30, 2019 and December 31, 2018 includes $63.7 million and $40.4 million, respectively, related to the North Carolina manufacturing facility.

60 Binney Street Lease

As a result of the adoption of ASU 2016-02, the Company de-recognized $156.0 million of the building asset and $6.7 million of accumulated depreciation related to its corporate headquarters at 60 Binney Street. Prior to the adoption of ASU 2016-02, the Company classified leasehold improvements associated with the 60 Binney Street building as building assets. Subsequent to the adoption of ASU 2016-02, the leasehold improvements owned by the Company associated with the 60 Binney Street building are classified as leasehold improvements. Please refer to Note 2, “Basis of presentation, principles of consolidation and significant accounting policies” and Note 7, “Leases” for further information.