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


	As of March 31, 2026		As of December 31, 2025
Cost
Land	$	7,183	$	7,245
Building and leasehold improvements	235,368		236,811
Machinery and Equipment	48,635		47,514
Furniture and fixtures	2,717		2,694
Construction in progress	363		1,062
Total Cost	294,266		295,326
Less: accumulated depreciation	(45,297)		(42,639)
Less: accumulated impairment charges	(106,867)		(106,822)
Property, Plant and Equipment, net	$	142,102	$	145,865

For the three months ended March 31, 2026, depreciation expense on property, plant and equipment was $3,097. For the three months ended March 31, 2025, depreciation expense on property, plant and equipment was $2,144. This depreciation expense was included in cost of sales as well as depreciation and amortization in operating expenses on the condensed consolidated statements of net income (loss) and comprehensive income (loss).

As of March 31, 2026 and December 31, 2025, the Company had $465 and $760, respectively, of unpaid purchases of property, plant and equipment accrued in accounts payable on the condensed consolidated balance sheets.