Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.24.1
Property and Equipment
12 Months Ended
Dec. 31, 2023
Property, Plant and Equipment  
Property, Plant and Equipment

5. Property and Equipment

Fortress’ property and equipment consisted of the following:

    

Useful Life

    

December 31, 

($ in thousands)

(Years)

2023

2022

Computer equipment

 

3

$

595

$

739

Furniture and fixtures

 

5

 

1,017

 

1,387

Machinery & equipment

 

5

 

 

8,632

Leasehold improvements

 

15

 

13,175

 

13,175

Buildings

40

581

581

Construction in progress

 

N/A

 

29

 

952

Total property and equipment

 

15,397

 

25,466

Less: Accumulated depreciation

 

(8,892)

 

(12,446)

Property, plant and equipment, net

$

6,505

$

13,020

Fortress’ depreciation expense for the years ended December 31, 2023 and 2022 was $2.2 million and $3.1 million, respectively, and was recorded in research and development, and selling, general and administrative expense in the Consolidated Statements of Operations.