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Property, Plant and Equipment
9 Months Ended
Sep. 30, 2022
Property Plant And Equipment [Abstract]  
Property, Plant and Equipment

7. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment consisted of the following:

 

 

 

September 30,

 

 

December 31,

 

(In thousands)

 

2022

 

 

2021

 

Land

 

$

6,560

 

 

$

6,560

 

Building and improvements

 

 

194,785

 

 

 

192,920

 

Furniture, fixtures and equipment

 

 

413,721

 

 

 

398,099

 

Leasehold improvements

 

 

52,526

 

 

 

52,526

 

Construction in progress

 

 

84,152

 

 

 

86,512

 

Subtotal

 

 

751,744

 

 

 

736,617

 

Less: accumulated depreciation

 

 

(425,394

)

 

 

(395,563

)

Total property, plant and equipment, net

 

$

326,350

 

 

$

341,054

 

 

In September 2022, the Company determined that $8.7 million of its construction in progress that related to the manufacturing of the approved Meloxicam Product had no future value. In addition, the Company had previously received $6.4 million from Baudax related to such equipment which it had recorded as contract liabilities within “Other long-term liabilities” in the accompanying condensed consolidated balance sheets. These amounts were recognized through “other (expense) income, net” in the accompanying condensed consolidated statements of operations and comprehensive loss.