PROPERTY, PLANT AND EQUIPMENT

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

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.