Property and Equipment

6 Months Ended

Jun. 30, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

3. PROPERTY AND EQUIPMENT

At June 30, 2022 and December 31, 2021, property and equipment consisted of the following:

		June 30, 2022		December 31, 2021
		(in thousands)
Buildings and Improvements	$	129,597	$	101,283
Equipment, Computers and Furniture		105,280		83,281
Leasehold Improvements		126,686		114,303
Land Improvements		792		607
Capitalized Interest		10,659		6,523
Total Property and Equipment		373,014		305,997
Less: Accumulated Depreciation		(61,297)		(45,198)
Property and Equipment, net		311,717		260,799
Land		23,743		20,258
Assets Under Construction		131,792		128,017
Property and Equipment, net	$	467,252	$	409,074

Assets under construction represent construction in progress related to both cultivation and dispensary facilities not yet completed or otherwise not ready for use.

Depreciation expense for the three and six months ended June 30, 2022 totaled $9,101 thousand and $17,149 thousand, respectively, of which $5,918 thousand and $10,964 thousand, respectively, is included in cost of goods sold. Depreciation expense for the three and six months ended June 30, 2021 totaled $5,254 thousand and $10,020 thousand, respectively, of which $3,212 thousand and $6,092 thousand, respectively, is included in cost of goods sold.