Property and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

(7) Property and Equipment

Property and equipment at December 31, 2023 and 2022 are summarized as follows:


(in thousands)	2023		2022		Useful Life (in years)
Building	$	94	$	94	25-30
Machinery and equipment	146,978		130,874		2-5
Capitalized software	27,793		25,952		3-5
Office furniture and equipment	6,342		5,540		1-5
Leasehold improvements	37,242		34,567		Life of lease a
Construction in progress	14,630		9,175		N/A
Total property and equipment	233,079		206,202
Less: Accumulated depreciation and amortization	(168,618)		(148,130)
Total property and equipment, net	$	64,461	$	58,072

a.Leasehold improvements are amortized on a straight-line basis over the shorter of (i) their estimated useful life or (ii) the estimated or contractual life of the related lease.

We include all depreciation from assets attributable to the generation of revenue in cost of sales on the consolidated statements of operations. Depreciation related to assets that are not attributable to the generation of revenue is included in the research and development and selling, general and administrative expense line items on the consolidated statements of operations. Depreciation on property and equipment is calculated on a straight-line basis. Depreciation expense on property and equipment for the years ended December 31, 2023, 2022 and 2021 was $21,346, $21,096 and $24,242, respectively.

For the years ended December 31, 2023, 2022 and 2021, we recognized impairment charges of $1,354, $18 and $788, respectively, on property and equipment, net in the selling, general and administrative line item on the consolidated statements of operations.