Property and Equipment, Net

3 Months Ended

Mar. 31, 2022

Property Plant And Equipment [Abstract]

Property and equipment

Property and equipment consisted of:


	March 31, 2022			December 31, 2021
Land	$	4,135		$	4,183
Assets in process		29,463			6,858
Buildings & improvements		158,251			118,014
Machinery & equipment		29,025			23,424
Office furniture & equipment		8,179			3,232
Assets under finance leases		418			239
Total cost		229,471			155,950
Less: accumulated depreciation		(17,754	)		(15,188	)
Property and equipment, net	$	211,717		$	140,762

Assets in process represent construction in progress related to both cultivation and dispensary facilities not yet completed, or otherwise not placed in service.

During the three months ended March 31, 2022 and the twelve months ended December 31, 2021, borrowing costs were not capitalized because the assets in process did not meet the criteria of a qualifying asset.

Depreciation expense was $2,486 for the three months ended March 31, 2022 ($1,736 included in cost of sales) and $1,966 for the three months ended March 31, 2021 ($1,098 included in cost of sales).