Property, Plant and Equipment

12 Months Ended

Dec. 31, 2022

Property Plant And Equipment [Abstract]

7. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consists of the following:

	December 31,			December 31,
(In thousands)	2022			2021
Land	$	6,560		$	6,560
Building and improvements		195,144			192,920
Furniture, fixtures and equipment		418,448			398,099
Leasehold improvements		54,152			52,526
Construction in progress		84,715			86,512
Subtotal		759,019			736,617
Less: accumulated depreciation		(433,658	)		(395,563	)
Total property, plant and equipment, net	$	325,361		$	341,054

Depreciation expense was $41.7 million, $40.5 million and $42.4 million for the years ended December 31, 2022, 2021 and 2020, respectively. Also, during the years ended December 31, 2022, 2021 and 2020, the Company wrote off furniture, fixtures and equipment that had an approximate carrying value of $0.5 million, $0.1 million and less than $0.1 million, respectively, at the time of disposition.

Amounts included as construction in progress in the consolidated balance sheets primarily include capital expenditures at the Company’s manufacturing facility in Wilmington, Ohio. The Company continues to evaluate its manufacturing capacity based on expectations of demand for its products and will continue to record such amounts within construction in progress until such time as the underlying assets are placed into service. The Company expects that approximately $44.3 million of construction in progress will be placed into service in the second half of 2023. The Company continues to periodically evaluate whether facts and circumstances indicate that the carrying value of its long‑lived assets to be held and used may not be recoverable.

In September 2022, the Company determined that $8.7 million of its construction in progress that related to the manufacture of ANJESO had no future value. The Company had previously received $6.4 million from Baudax related to such equipment which it had recorded as contract liabilities within “Other long-term liabilities” in the accompanying consolidated balance sheets and the net amount of $2.3 million was written off through “other income, net” in the accompanying consolidated statements of operations and comprehensive loss.