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Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment, Net.

Property, Plant and Equipment, Net

Note 5. Property, Plant and Equipment, Net

The components of our property, plant and equipment are summarized below (in thousands):

​	​	​	​	​	​	​	​
​	​	December 31,		​	December 31,		​
​	​	2024		​	2023		​
Property, plant and equipment:	​	​	​	​	​	​	​
Machinery and equipment, at cost	​	$	67,917	​	$	65,918	​
Less: accumulated depreciation and amortization	​	​	(44,065)	​	​	(42,112)	​
Building, at cost	​	​	137,420	​	​	125,786	​
Less: accumulated depreciation and amortization	​	​	(26,310)	​	​	(23,339)	​
Leasehold improvements, at cost	​		7,575	​		7,596	​
Less: accumulated depreciation and amortization	​	​	(6,347)	​	​	(5,984)	​
Construction in progress	​		23,531	​		38,483	​
​	​	$	159,721	​	$	166,348	​

​

As of December 31, 2024, the balance of construction in progress was $23.5 million, of which $17.9 million was related to our buildings in our Dingxing and Kazuo locations, $1.4 million was for manufacturing equipment purchases not yet placed in service and $4.3 million was from our construction in progress for our other consolidated subsidiaries. As of December 31, 2023, the balance of construction in progress was $38.5 million, of which $31.2 million was related to our buildings in our Dingxing and Kazuo locations, $3.1 million was for manufacturing equipment purchases not yet placed in service and $4.2 million was from our construction in progress for our other consolidated subsidiaries. 

Depreciation and amortization expense was $9.0 million, $8.7 million and $8.1 million for the years ended December 31, 2024, 2023 and 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.

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