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Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2023
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)

 

2023

 

 

2022

 

Land

 

$

6,570

 

 

$

6,560

 

Building and improvements

 

 

195,766

 

 

 

195,144

 

Furniture, fixtures and equipment

 

 

436,392

 

 

 

418,448

 

Leasehold improvements

 

 

58,051

 

 

 

54,152

 

Construction in progress

 

 

93,434

 

 

 

84,715

 

Subtotal

 

 

790,213

 

 

 

759,019

 

Less: accumulated depreciation

 

 

(462,696

)

 

 

(433,658

)

Total property, plant and equipment, net

 

$

327,517

 

 

$

325,361

 

 

As of September 30, 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 income (expense), net” in the accompanying condensed consolidated statements of operations and comprehensive income (loss).