XML 28 R15.htm IDEA: XBRL DOCUMENT v3.25.0.1
Property, Plant and Equipment
 12 Months Ended
Dec. 31, 2024
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment
(5)
Property, Plant and Equipment

Property, plant and equipment as of December 31, 2024 and 2023 consists of the following:

 

In thousands

 

Useful Life (in years)

 

December 31, 2024

 

 

December 31, 2023

 

Furniture and fixtures

 

5

 

$

425

 

 

$

432

 

Leasehold improvements

 

lesser of useful life or lease term

 

 

217

 

 

 

217

 

Software

 

3 - 5

 

 

617

 

 

 

617

 

Computer equipment

 

3 - 5

 

 

227

 

 

 

227

 

Property, plant and equipment

 

 

 

 

1,486

 

 

 

1,493

 

Accumulated depreciation and amortization

 

 

 

 

(1,470

)

 

 

(1,379

)

Property, plant and equipment, net

 

 

 

$

16

 

 

$

114

 

The Company provides for depreciation and amortization using the straight-line method by charges to operations in amounts that depreciate the cost of the fixed asset over its estimated useful life. Depreciation expense for the years ended December 31, 2024, 2023,

and 2022 was $0.1 million, $0.2 million, and $0.6 million, respectively. Upon retirement or sale of assets, the cost of the assets disposed and the related accumulated depreciation are removed from the consolidated balance sheet and any resulting gain or loss is credited or expensed to operations. Repairs and maintenance costs are expensed as incurred.