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Property and Equipment (Tables)
3 Months Ended
Mar. 31, 2022
Property Plant And Equipment [Abstract]  
Property and Equipment, Net

Property and equipment consists of the following (in thousands):

 

 

 

Estimated Useful

 

 

 

 

 

 

 

 

 

 

 

Life (Years)

 

 

March 31, 2022

 

 

December 31, 2021

 

Land

 

 

 

 

$

875

 

 

$

875

 

Buildings

 

39-40

 

 

 

17,389

 

 

 

17,389

 

Building improvements

 

5-40

 

 

 

38,651

 

 

 

38,651

 

Machinery and equipment

 

3-15

 

 

 

55,294

 

 

 

55,334

 

Furniture, fixtures and office equipment

 

5-10

 

 

 

2,969

 

 

 

2,969

 

Computer equipment and software

 

 

3

 

 

 

8,360

 

 

 

8,163

 

Construction in progress

 

 

 

 

 

15,824

 

(1)

 

10,892

 

 

 

 

 

 

 

 

139,362

 

 

 

134,273

 

Less accumulated depreciation

 

 

 

 

 

 

(97,909

)

 

 

(97,661

)

Total property and equipment, net

 

 

 

 

 

$

41,453

 

 

$

36,612

 

____________________

(1)

Construction in progress includes $7.7 million of equipment under construction for the manufacturing expansion for UT (the “UT Equipment”). The Company acts as agent on behalf of UT for the procurement of the UT Equipment. The Company has received $7.1 million in deposit for this service, which was recognized as deposits from customer in the condensed consolidated balance sheet as of March 31, 2022. See Note 8 – Collaboration, Licensing and Other Arrangements.

Depreciation Expense Related to Property and Equipment

Depreciation expense related to property and equipment for the three months ended March 31, 2022 and 2021 was as follows (in thousands):

 

 

 

Three Months Ended

March 31,

 

 

 

2022

 

 

2021

 

Depreciation Expense

 

$

599

 

 

$

460