Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2011

Property, Plant, and Equipment [Abstract]

8.	Property, Plant, and Equipment

Property, plant, and equipment as of December 31, 2011 and 2010 consist of the following:

	2011	2010
Land	$2,117	$2,117
Building and improvements	322,753	242,035
Leasehold improvements	4,479	4,063
Construction-in-progress	10,880	70,356
Laboratory and other equipment	156,397	137,951
Furniture, computer and office equipment, and other	29,468	22,235
	526,094	478,757
Less, accumulated depreciation and amortization	(158,139)	(131,307)
	$367,955	$347,450

Depreciation and amortization expense on property, plant, and equipment amounted to $31.1 million, $19.7 million, and $14.2 million for the years ended December 31, 2011, 2010, and 2009, respectively. Effective in the first quarter of 2010, the estimated useful lives of certain capitalized laboratory and other equipment, which is a component of property, plant, and equipment, were extended. The effect of this change in estimate was to lower depreciation expense by $4.0 million and to lower the Company’s net loss per share by $0.05 for the year ended December 31, 2010.

Included in property, plant, and equipment at December 31, 2011 and December 31 2010 was $3.6 million and $2.8 million, respectively, of leased equipment under capital leases, and related accumulated amortization was $0.5 million and $0.1 million at December 31, 2011 and December 31, 2010, respectively.

Property, plant, and equipment at both December 31, 2011 and 2010 includes $86.2 million of costs incurred by the Company’s landlord to construct new laboratory and office facilities in Tarrytown, New York in connection with the Company’s December 2006 lease, as amended, of these facilities. See Note 12a.

The Company capitalized interest costs of $6.4 million in 2010. The Company did not capitalize any interest costs in 2011.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

+ References+ Details