PROPERTY, PLANT AND EQUIPMENT, NET

6 Months Ended

Jun. 30, 2024

Property, Plant and Equipment [Abstract]

Property, plant and equipment, net comprised the following:


	June 30, 2024		December 31, 2023
Machinery and equipment	$	24,193	$	27,417
Peat bogs and related development	12,461		12,256
Building and improvements	10,272		10,132
Land	5,639		6,114
Furniture and fixtures	4,331		4,360
Computer equipment	3,275		3,301
Leasehold improvements	3,180		5,169
Gross property, plant and equipment	63,351		68,749
Less: accumulated depreciation	(22,240)		(21,389)
Total property, plant and equipment, net	$	41,111	$	47,360

Depreciation, depletion and amortization expense related to property, plant and equipment, net was $1,740 and $3,541 for the three and six months ended June 30, 2024, respectively. Depreciation, depletion and amortization expense related to property, plant and equipment, net was $2,203 and $4,165 for the three and six months ended June 30, 2023, respectively.

As of June 30, 2024, Land, Building and improvements, Computer equipment, and Machinery and equipment contain finance leases assets, recorded at cost of $10,195, less accumulated depreciation of $2,555. As of December 31, 2023, Land, Building and improvements, Computer equipment, and Machinery and equipment contain finance leases assets, recorded at cost of $12,783, less accumulated depreciation of $3,468.

In conjunction with the Asset Sale, the Company sold $3,721 of property, plant and equipment, net. Refer to Note 3 – Restructuring and Asset Dispositions for further details.

The Company operates peat bogs in Alberta, Canada. Under current provincial laws the Company is subject to certain asset retirement obligations ("AROs") and the remediation of the peat bog sites are under provincial oversight. The Company periodically evaluates expected remediation costs associated with the peat bog sites that it operates. When the Company concludes that it is probable that a liability has been incurred, a provision is made for management's estimate of the liability. As

of June 30, 2024, and December 31, 2023, the Company had AROs of $486 and $759, respectively, recorded in Accrued expenses and other current liabilities on the condensed consolidated balance sheets. As of June 30, 2024, and December 31, 2023, the Company had AROs of $4,429 and $4,457, respectively, recorded in Other long-term liabilities on the condensed consolidated balance sheets. The ARO changes related to the various components of accretion, and additional obligations incurred that were not significant.