v3.26.1
Property, Plant and Equipment
 6 Months Ended
Jun. 27, 2026
Property, Plant, and Equipment [Abstract]  
Property, Plant and Equipment Property, Plant and Equipment
The Company records property, plant, and equipment at cost and includes finance lease assets in Property, plant and equipment, net in its unaudited condensed consolidated balance sheets. A summary of property, plant, and equipment, net as of June 27, 2026 and December 31, 2025, is as follows (in thousands):
June 27, 2026December 31, 2025
Machinery and equipment$126,340 $127,475 
Leasehold improvements16,322 16,885 
Building29,408 29,562 
Finance leases124,555 125,216 
Software2,654 2,688 
Furniture and fixtures899 900 
Vehicles595 595 
Land5,512 5,548 
Assets not yet placed in service5,379 6,371 
Total property, plant and equipment$311,664 $315,240 
Less: accumulated depreciation and amortization109,992 101,978 
Property, plant and equipment, net$201,672 $213,262 

Depreciation and amortization expense in the three months ended June 27, 2026 and June 28, 2025 was $6.7 million and $8.3 million, respectively. Depreciation and amortization expense in the three months ended June 27, 2026 included $1.6 million in accelerated depreciation related to the Company’s remaining leasehold improvement assets in China unrelated to the assets held for sale. Of the total depreciation and amortization expense in the three months ended June 27, 2026 and June 28, 2025, $4.0 million (including $1.6 million in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the cessation of the Company’s operational activities in China) and $6.1 million (including $1.7 million in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the cessation of the Company’s operational activities in China), respectively, were recorded in cost of goods sold, $2.0 million and $2.1 million, respectively were recorded in research and development expenses, and $0.7 million and $0.1 million, respectively, were recorded in SG&A expenses, in the Company’s unaudited condensed consolidated statement of operations.
Depreciation and amortization expense in the six months ended June 27, 2026 and June 28, 2025 was $13.5 million and $15.7 million, respectively. Depreciation and amortization expense in the six months ended June 27, 2026 and June 28, 2025 included $2.1 million and $3.2 million, respectively, in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the cessation of the Company’s operational activities in China. Of the total depreciation and amortization expense in the six months ended June 27, 2026 and June 28, 2025, $7.8 million (including $2.1 million in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the cessation of the Company’s operational activities in China) and $12.0 million (including $2.3 million in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the cessation of the Company’s operational activities in China), respectively, were recorded in cost of goods sold, $4.2 million (including $0.9 million in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the cessation of the Company’s operational activities in China) and $3.4 million (including $0.9 million in accelerated depreciation related to the reassessment of useful lives of certain assets resulting from the cessation of the Company’s operational activities in China), respectively, were recorded in research and
development expenses, and $1.5 million and $0.3 million, respectively, were recorded in SG&A expenses, in the Company’s unaudited condensed consolidated statement of operations.
As of June 27, 2026 and December 31, 2025, the Company had $8.7 million and $9.4 million in property, plant and equipment, respectively, classified as assets held for sale.