Consolidated Balance Sheet Detail

12 Months Ended

Dec. 31, 2024

11.

Consolidated Balance Sheet Detail

Inventories, net

Inventories, net consists of the following:


	December 31,
	2024		2023
	(Amounts in thousands)
Raw materials	$	82,208	$	123,598
Work-in-process		4,542		4,492
Finished products		56,214		74,231
Total inventories, net	$	142,964	$	202,321

Assets Held for Sale

During the first quarter of 2024, the Company’s management decided it would explore a sale of the Company’s property located at 119 Fredon Springdale Road, Fredon, New Jersey (the “BioFlex Property”) and engaged a broker to assist with the sale process. As a result of these actions, the Company determined that the sale of the BioFlex Property met the criteria to be classified as assets held-for-sale pursuant to ASC 360, “Impairment and Disposal of Long-Lived Assets” beginning in the first quarter of 2024. The sale of the BioFlex Property closed on August 2, 2024 and the Company recorded a gain of $0.2 million on the sale of the BioFlex Property to its condensed consolidated statement of comprehensive income (loss) for the year ended December 31, 2024.

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:


	December 31,
	2024		2023
	(Amounts in thousands)
Equipment maintenance and services	$	8,469	$	6,605
Prepaid income taxes		10,031		10,532
Prepaid insurance		979		3,087
Other		12,128		13,317
Total prepaid expenses and other current assets	$	31,607	$	33,541

Property, Plant and Equipment

Property, plant and equipment consist of the following:


	December 31,
	2024			2023
	(Amounts in thousands)
Land	$	824		$	992
Buildings		675			1,667
Leasehold improvements		145,256			126,663
Equipment		130,413			114,606
Furniture, fixtures and office equipment		9,999			9,077
Computer hardware and software		44,323			35,528
Construction in progress		28,211			47,086
Other		504			544
Total property, plant and equipment		360,205			336,163
Less - Accumulated depreciation		(162,467	)		(128,723	)
Total property, plant and equipment, net	$	197,738		$	207,440

Depreciation expense totaled $35.0 million, $37.0 million and $23.9 million in the fiscal years ended December 31, 2024, 2023 and 2022, respectively.

Accrued Liabilities

Accrued liabilities consist of the following:


	December 31,
	2024		2023
	(Amounts in thousands)
Employee compensation	$	32,163	$	16,660
Deferred revenue		13,243		17,067
Income taxes payable		1,423		6,814
Other		15,594		16,772
Total accrued liabilities	$	62,423	$	57,313