Annual report pursuant to Section 13 and 15(d)

PROPERTY, PLANT AND EQUIPMENT, NET (Tables)

v3.22.1
PROPERTY, PLANT AND EQUIPMENT, NET (Tables)
12 Months Ended
Dec. 31, 2021
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,
2021
  December 31,
2020
Land $ 5,065  $ 5,065 
Building & warehouse 13,381  8,464 
Laboratory equipment 6,295  5,942 
Agricultural equipment 2,404  1,904 
Computer equipment 1,681  1,534 
Furniture & appliances 852  819 
Construction in progress (b)
5,709  4,288 
Other 1,247  1,020 
Property, plant and equipment, gross 36,634  29,036 
Less: accumulated depreciation (5,702) (3,356)
Property, plant and equipment, net $ 30,932  $ 25,680 
(a) The Company recorded total depreciation expense in the Consolidated Statement of Operations for approximately $2,346 and $2,359 in 2021 and 2020, respectively. Total depreciation for the year ended December 31, 2021 includes approximately $1,133 and $586 of depreciation, included in inventory and cost of goods sold, respectively. Total depreciation for the year ended December 31, 2020 includes approximately $1,051 and $685 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 and Portugal facilities.