Supplemental Balance Sheet Information |
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Organization, Consolidation and Presentation of Financial Statements [Abstract] | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
Supplemental Balance Sheet Information | 5. Supplemental Balance Sheet Information Inventories Inventories are stated at the lower of cost or net realizable value on a first-in, first-out basis and are comprised of the following (in thousands):
Property and Equipment Property and equipment consist of the following (in thousands):
Construction in progress is primarily comprised of equipment that has not been placed in service. T2-owned instruments and components is comprised of raw materials and work-in-process inventory that are expected to be used or used to produce T2-owned instruments and completed instruments that will be used for internal research and development, clinical studies and reagent rental agreement with customers. At June 30, 2023 and December 31, 2022, there were $0.9 million and $0.8 million of T2-owned instrument raw materials and work-in-process, respectively. Depreciation expense, a component of cost of product revenue, from instruments under the T2-owned reagent rental pool was immaterial for the three months ended June 30, 2023 and 2022. Depreciation expense, a component of cost of product revenue, from instruments under the T2-owned reagent rental pool was $0.1 million for the six months ended June 30, 2023 and 2022. Total depreciation expense for T2-owned instruments used for internal research and development and clinical studies is recorded as a component of research and development expense. Depreciation and amortization expense of $0.1 million and $0.2 million was charged to operations for the three months ended June 30, 2023 and 2022, respectively. Depreciation and amortization expense of $0.4 million and $0.5 million was charged to operations for the six months ended June 30, 2023 and 2022, respectively. Accrued Expenses Accrued expenses consist of the following (in thousands):
Accrued professional services at December 31, 2022 includes a $1.0 million estimated liability related to the Billerica, Massachusetts lease (Note 13). |