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PROPERTY, PLANT AND EQUIPMENT | 9 Months Ended
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Sep. 30, 2023
Property, Plant and Equipment [Abstract] |
PROPERTY, PLANT AND EQUIPMENT | PROPERTY, PLANT AND EQUIPMENT Presented in the table below are the major classes of property, plant and equipment by category as of the below dates:
| As of September 30, 2023
(in thousands) | Cost |  | Accumulated Depreciation |  | Net Book Value
Building | $ | 81,526 |  |  | $ | 1,893 |  |  | $ | 79,633 |
Machinery and equipment | 329,656 |  |  | 19,836 |  |  | 309,820 |
Leasehold Improvements | 2,957 |  |  | 1,284 |  |  | 1,673 |
Fixtures and Furnishings | 679 |  |  | 151 |  |  | 528 |
Land improvements | 150 |  |  | 30 |  |  | 120 |
Land | 1,150 |  |  | — |  |  | 1,150 |
Construction in process | 233,001 |  |  | — |  |  | 233,001 |
Total property, plant and equipment | $ | 649,119 |  | 649,119 |  | $ | 23,194 |  |  | $ | 625,925 |
| 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 |
Depreciation expense is recorded within operating costs in the condensed consolidated statements of comprehensive income (loss) and amounted to $9.3 million and $14.6 million for the three and nine months ended September 30, 2023, respectively, and $0.9 million and $2.6 million for the three and nine months ended September 30, 2022, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org//1943274/2147480321/958-360-50-7 + Details
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