The following table summarizes inventory by category for the periods presented:


	March 31, 2022		March 31, 2021
Raw materials	$	10,228	$	9,189
Work in progress		7,154		9,105
Finished goods		4,654		3,717
Total inventories	$	22,036	$	22,011

Inventory at March 31, 2022 included $6,761 of raw materials, $4,252 of work in progress and $2,758 of finished goods related to the MosaiQ project. Inventory at March 31, 2021 included $6,829 of raw materials, $4,321 of work in progress, and $1,465 of finished goods related to the MosaiQ project. During the year ended March 31, 2022 the Company recorded inventory write-downs of $2.7 million in respect of certain raw materials, work-in-progress, and finished goods related to the MosaiQ project following evaluation of the Company's current estimated manufacturing costs and the initial market price. Included in the $2.7 million is $308 of projected losses on firm purchase commitments recorded in other accrued expenses.

During the year ended March 31, 2021 the Company recorded inventory provisions of $2.0 million in respect of certain raw materials and work-in-progress items related to the MosaiQ project following evaluation of further development data and corresponding changes in manufacturing processes.

The following table summarizes property and equipment by categories for the periods presented:


	March 31, 2022			March 31, 2021
Plant and equipment	$	65,094		$	62,940
Leasehold improvements		32,844			33,369
Total property and equipment		97,938			96,309
Less: accumulated depreciation		(64,696	)		(57,238	)
Total property and equipment, net	$	33,242		$	39,071

Depreciation expenses were $7.2 million, $8.8 million in financial years 2022 and 2021 respectively. At March 1, 2022, the Company reassessed the useful economic lives of equipment used in the production line at its facility in Eysins, Switzerland. Based on lower utilization rates than initially estimated, the remaining useful lives of the equipment was increased from 10 years to 15 years. The impact of these changes in remaining useful lives was to reduce the depreciation expenses for the year ended March 31, 2022 by $110.

Accrued expenses and other current liabilities consist of the following:


	March 31, 2022		March 31, 2021
Accrued legal and professional fees	$	1,254	$	1,005
Accrued interest		9,235		8,009
Goods received not invoiced		1,304		1,722
Accrued capital expenditure		193		1,201
Other accrued expenses		3,743		2,072
Total accrued expenses and other current liabilities	$	15,729	$	14,009