| Certain Balance Sheet Accounts |
Note 5—Certain Balance Sheet Accounts OMIDRIA Contract Royalty Asset The OMIDRIA contract royalty asset consists of the following: | | | | | | | | | March 31, | | December 31, | | | 2023 | | 2022 | | | | (In thousands) | Short-term contract royalty asset | | $ | 28,940 | | $ | 28,797 | Long-term contract royalty asset | | | 119,681 | | | 123,425 | Total OMIDRIA contract royalty asset | | $ | 148,621 | | $ | 152,222 |
Receivables Receivables consist of the following: | | | | | | | | | March 31, | | December 31, | | | 2023 | | 2022 | | | | (In thousands) | OMIDRIA royalty | | $ | 7,600 | | $ | 12,966 | Employee retention tax credit | | | 2,131 | | | — | Sublease and other | | | 302 | | | 255 | OMIDRIA milestone | | | — | | | 200,000 | Total receivables | | $ | 10,033 | | $ | 213,221 |
In March 2023, we received notification of an employee retention tax credit of $2.1 million from the Internal Revenue Service due to the Coronavirus Aid, Relief and Economic Security (“CARES”) Act. We received an amount equal to the tax credit in April 2023. Property and Equipment, Net Property and equipment, net consists of the following: | | | | | | | | | March 31, | | December 31, | | | 2023 | | 2022 | | | | (In thousands) | Equipment under finance lease obligations | | $ | 5,977 | | $ | 6,204 | Laboratory equipment | | | 3,164 | | | 3,135 | Computer equipment | | | 1,076 | | | 1,076 | Office equipment and furniture | | | 625 | | | 625 | Total cost | | | 10,842 | | | 11,040 | Less accumulated depreciation and amortization | | | (9,507) | | | (9,548) | Total property and equipment, net | | $ | 1,335 | | $ | 1,492 |
For the three months ended March 31, 2023 and 2022, depreciation and amortization expense was $0.2 million and $0.3 million, respectively. Accrued Expenses Accrued expenses consists of the following: | | | | | | | | | March 31, | | December 31, | | | 2023 | | 2022 | | | | (In thousands) | Employee compensation | | $ | 8,778 | | $ | 6,665 | Clinical trials | | | 6,486 | | | 5,536 | Income taxes payable | | | 4,871 | | | 4,871 | Interest payable | | | 3,703 | | | 5,172 | Consulting and professional fees | | | 3,686 | | | 4,425 | Contract research and development | | | 2,630 | | | 3,209 | Other accrued expenses | | | 667 | | | 673 | Total accrued expenses | | $ | 30,821 | | $ | 30,551 |
|