Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.21.2
Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2021
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

Note 5 - Property, Plant and Equipment

 

The components of property and equipment are as follows (in thousands):

 

    September 30,     December 31,      
    2021     2020     Estimated Useful Life
Land   $ 352     $ 352      
Building improvements     1,859       1,729     10-39 years
Machinery     4,672       4,441     3-7 years
Lab equipment     4,316       1,002     3-7 years
Computer equipment     1,189       881     3-5 years
Furniture and fixtures     468       194     5 years
Property, Plant and Equipment, Gross     12,856       8,599      
Less: accumulated depreciation     (6,402 )     (5,021 )    
Total property, plant and equipment, net   $ 6,454     $ 3,578      

 

Depreciation expense for the three months ended September 30, 2021 and 2020 was $481,000 and $86,000, respectively. Depreciation expense incurred for the nine months ended September 30, 2021 and 2020 was $1,381,000 and $253,000, respectively.

 

 

ProPhase Labs, Inc. and Subsidiaries

Notes to Condensed Consolidated Financial Statements

(unaudited)