Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment, Net

v3.22.2.2
Property, Plant and Equipment, Net
 3 Months Ended
Mar. 31, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment, Net Property, Plant and Equipment, Net
Property, plant and equipment, net consists of the following as of March 31, 2022 and December 31, 2021:
  As of
  March 31,
2022		 December 31,
2021
(In thousands)
Leasehold improvements
 $ 23,724  $ 23,501 
Machinery and equipment
 60,005  59,358 
Aircraft
 8,000  8,000 
IT software and equipment
 22,747  22,397 
Construction in progress
 26,942  23,167 
  141,418  136,423 
Less: accumulated depreciation and amortization
 (77,915) (74,998)
Property, plant and equipment, net
 $ 63,503  $ 61,425 
Depreciation expense recorded in the condensed consolidated statements of operations and comprehensive loss during the three months ended March 31, 2022 and 2021 consisted of the following:
  Three Months Ended March 31,
  2022 2021
(In thousands)
Cost of revenue
 $ 249  $ — 
Research and development, net
 130  874 
Selling, general and administrative
 2,423  2,249 
Total depreciation expense
 $ 2,802  $ 3,123 
The Company’s capitalized software totaled $0.7 million and $0.8 million, net of accumulated amortization of $7.5 million and $7.4 million, as of March 31, 2022 and December 31, 2021, respectively. No amortization expense is recorded until the software is ready for its intended use. For the three months ended March 31, 2022 and 2021, amortization expense related to capitalized software was $0.1 million and $0.2 million, respectively.