PROPERTY, PLANT AND EQUIPMENT

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]


5. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment and related accumulated depreciation consists of the following at December 31, 2023 and December 31, 2022:


	As of December 31,
	2023		2022
Land	$	30,934	$	31,877
Buildings and Improvements	194,274		197,819
Furniture and Fixtures	19,884		16,189
Computer Equipment and Software	25,861		21,478
Leasehold Improvements	230,877		211,785
Tools and Equipment	90,386		88,507
Vehicles	4,373		4,992
Assets Under Construction (1)	39,844		41,800

Total Property, Plant and Equipment, Gross	636,433		614,447
Less: Accumulated Depreciation	(135,129)		(88,542)

Property, Plant and Equipment, Net	$	501,304	$	525,905

(1)Assets under construction represent construction in progress related to facilities not yet completed or otherwise not placed in service.

A reconciliation of the beginning and ending balances of property, plant and equipment is as follows:


	Property, Plant and Equipment, Gross		Accumulated Depreciation		Property, Plant and Equipment, Net

Balance as of January 1, 2022	$	498,380	$	(46,148)	$	452,232
Additions	122,626		—		122,626
Property, plant and equipment from business combination	5,891		(229)		5,662
Disposals and other	(11,196)		1,596		(9,600)
Deconsolidation from disposition of business combination	(1,254)		281		(973)
Depreciation	—		(44,042)		(44,042)

Balance as of December 31, 2022	$	614,447	$	(88,542)	$	525,905
Additions	35,815		—		35,815
Disposals and other	(4,260)		2,093		(2,167)
Impairment	(9,569)		996		(8,573)
Depreciation	—		(49,676)		(49,676)

Balance as of December 31, 2023	$	636,433	$	(135,129)	$	501,304

For the years ended December 31, 2023 and December 31, 2022, depreciation expense included in costs of goods sold totaled $33,866 and $31,774, respectively. For the years ended December 31, 2023 and December 31, 2022, depreciation expense included in selling, general, and administrative expense totaled $15,810 and $12,268, respectively. During the year ended December 31, 2023, the Company recorded a fixed asset impairment charge of $8,573 associated with its Massachusetts cultivation facility.