Consolidated Balance Sheet Detail

3 Months Ended

Mar. 31, 2024

Inventories, net

Inventories, net consists of the following:


	March 31,		December 31,
	2024		2023
	(Amounts in thousands)
Raw materials	$	118,761	$	123,598
Work-in-process		5,088		4,492
Finished products		74,184		74,231
Total inventories, net	$	198,033	$	202,321

Assets held for sale

During the first quarter of 2024, the Company’s management decided it would explore a sale of the Company’s property located at 119 Fredon Springdale Road, Fredon, New Jersey (the “BioFlex Property”) and engaged a broker to assist with the sale process. As of March 31, 2024, the Company continues to conduct an encouraging sale process for the BioFlex Property, with the goal of completing the sale within one year. As a result of these actions, the sale of the BioFlex Property meets the criteria to be

classified as assets held-for-sale pursuant to ASC 360, “Impairment and Disposal of Long-Lived Assets.” Therefore, the Company recorded $1.0 million in Assets held for sale in our condensed consolidated balance sheet as of March 31, 2024.

Assets held for sale as of March 31, 2024 (for which there were no comparable amounts as of December 31, 2023) consist of the following (amounts in thousands):


	March 31,
	2024
Land	$	101
Buildings		915
Total assets held for sale	$	1,016

Property, plant and equipment, net

Property, plant and equipment, net consist of the following:


	March 31,			December 31,
	2024			2023
	(Amounts in thousands)
Land	$	855		$	992
Buildings		702			1,667
Leasehold improvements		126,995			126,663
Equipment		113,796			114,606
Furniture, fixtures and office equipment		9,027			9,077
Computer hardware and software		36,540			35,528
Construction in progress		53,071			47,086
Other		504			544
Total property, plant and equipment		341,490			336,163
Less - Accumulated depreciation		(135,774	)		(128,723	)
Total property, plant and equipment, net	$	205,716		$	207,440

Accrued liabilities

Accrued liabilities consist of the following:


	March 31,		December 31,
	2024		2023
	(Amounts in thousands)
Employee compensation	$	20,532	$	16,660
Deferred revenue		14,415		10,287
Income taxes payable		1,984		6,814
Other		19,040		16,772
Total accrued liabilities	$	55,971	$	50,533