Annual report pursuant to Section 13 and 15(d)

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

v3.23.1
PROPERTY, PLANT AND EQUIPMENT, NET (Tables)
 12 Months Ended
Dec. 31, 2022
Property, Plant and Equipment [Abstract]  
Schedule of Property, Plant and Equipment
Depreciation begins when the asset becomes available for use and is calculated on a straight-line basis over the estimated useful lives of the assets, as follows:

Estimated Useful Life
(In Years)
Land N/A – indefinite
Buildings & warehouse
2 – 40 years
Leasehold improvements Shorter of lease term or useful life
Furniture and appliances
5 years
Agricultural equipment
2 – 10 years
Computer equipment
3 years
Laboratory equipment
3 – 20 years
The Company has property, plant, and equipment related to land, buildings and warehouses, leasehold improvements, laboratory, and construction in progress. Property, plant and equipment, net consisted of the following:
December 31,
2022		   December 31,
2021
Land $ 3,306  $ 5,065 
Building & warehouse 7,658  13,381 
Laboratory equipment 6,416  6,295 
Agricultural equipment 1,477  2,404 
Computer equipment 1,397  1,681 
Furniture & appliances 785  852 
Construction in progress (b)
240  5,709 
Other 1,304  1,247 
Property, plant and equipment, gross 22,583  36,634 
Less: accumulated depreciation(a)
(7,120) (5,702)
Property, plant and equipment, net $ 15,463  $ 30,932 
(a) The Company recorded total depreciation expense in the Consolidated Statement of Operations for approximately $1,418 and $2,346 in 2022 and 2021, respectively. Total depreciation for the year ended December 31, 2022 includes approximately $1,213 and $802 of depreciation, included in inventory and cost of goods sold, respectively. Total depreciation for the year ended December 31, 2021 includes approximately $1,133 and $586 of depreciation, included in inventory and costs of goods sold, respectively.
(b) Construction in progress primarily relate to on-going construction of the Company's Colombian facilities.