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SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2022

Schedule of Estimated Useful Lives of Property, Plant and Equipment

Property, plant and equipment are recorded at cost and are depreciated over their estimated useful lives, unless the useful life is indefinite, using the straight-line method over the following table:


Building			39 years
Land			Indefinite
Office equipment and furniture			7 years
Machinery and equipment			3-10 years
Fixtures and Furnishings			5 years

Presented in the table below are the major classes of property, plant and equipment by category as of the below dates:


	As of December 31, 2022
(in thousands)	Cost		Accumulated Depreciation		Net Book Value
Building	$	12,534	$	1,016	$	11,518
Machinery and equipment	23,728		6,674		17,054
Leasehold improvements	2,957		803		2,154
Fixtures and furnishings	529		83		446
Land improvements	150		22		128
Land	1,150		—		1,150
Construction in process	473,269		—		473,269
Total property, plant and equipment	$	514,317	$	8,598	$	505,719


	As of December 31, 2021
(in thousands)	Cost		Accumulated Depreciation		Net Book Value
Building	$	12,029	$	695	$	11,334
Machinery and equipment	20,016		4,183		15,833
Leasehold improvements	2,902		154		2,748
Fixtures and furnishings	104		37		67
Land improvements	150		12		138
Land	1,150		—		1,150
Construction in process	193,944		—		193,944
Total property, plant and equipment	$	230,295	$	5,081	$	225,214