Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment

v3.22.2.2
Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2022
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment

Note 5 - Property, Plant and Equipment

 

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

 Schedule of Property, Plant and Equipment

                 
    September 30, 2022     December 31, 2021     Estimated Useful Life
Land   $ 352     $ 352      
Building improvements     1,729       1,729     10-39 years
Machinery     4,892       4,740     3-7 years
Lab equipment     4,403       4,330     3-7 years
Computer equipment     2,140       1,211     3-5 years
Furniture and fixtures     461       468     5 years
Property, Plant and Equipment, Gross     13,977       12,830      
Less: accumulated depreciation     (7,914 )     (6,883 )    
Total property, plant and equipment, net   $ 6,063     $ 5,947      

 

Depreciation expense incurred for the three months ended September 30, 2022 and 2021 was $540,000 and $481,000, respectively. Depreciation expense incurred for the nine months ended September 30, 2022 and 2021 was $1,637,000 and $1,381,000, respectively.

 

 

ProPhase Labs, Inc. and Subsidiaries

Notes to Condensed Consolidated Financial Statements

(unaudited)