XML 23 R13.htm IDEA: XBRL DOCUMENT v3.23.1
Property, Plant and Equipment, Net
 3 Months Ended
Mar. 31, 2023
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net

Note 6. Property, Plant, and Equipment, Net

Property, plant, and equipment consist of the following (in thousands):

 

 

 

As of
March 31, 2023

 

 

As of
December 31, 2022

 

Machinery and equipment

 

$

19,848

 

 

$

19,433

 

Office furniture and equipment

 

 

742

 

 

 

628

 

Vehicles

 

 

262

 

 

 

229

 

Leasehold improvements

 

 

12,150

 

 

 

12,093

 

 

 

33,002

 

 

 

32,383

 

Less—Accumulated depreciation

 

 

(5,358

)

 

 

(4,520

)

 

 

27,644

 

 

 

27,863

 

Construction in progress

 

 

26,089

 

 

 

23,714

 

Total property, plant, and equipment, net

 

$

53,733

 

 

$

51,577

 

 

For the three months ended March 31, 2023 and 2022, depreciation expense was approximately $0.8 million and $0.5 million, respectively.

Teknova capitalizes interest on funds borrowed to finance its capital expenditures. Capitalized interest is recorded as part of an asset’s cost and depreciated over the asset’s useful life. For the three months ended March 31, 2023 and 2022, capitalized interest costs were $0.6 million and $0.3 million, respectively.