Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.22.1
Property and Equipment
12 Months Ended
Dec. 31, 2021
Property and Equipment  
Property and Equipment

5. Property and Equipment

Fortress’ property and equipment consisted of the following:

    

Useful Life

    

December 31, 

    

December 31, 

($ in thousands)

(Years)

2021

2020

Computer equipment

 

3

$

739

$

663

Furniture and fixtures

 

5

 

1,387

 

1,199

Machinery & equipment

 

5

 

6,550

 

5,748

Leasehold improvements

 

2-15

 

13,175

 

10,580

Buildings

40

581

Construction in progress 1

 

N/A

 

2,028

 

499

Total property and equipment

 

24,460

 

18,689

Less: Accumulated depreciation

 

(9,394)

 

(6,766)

Property and equipment, net

$

15,066

$

11,923

Note 1: Relates to the Mustang cell processing facility.

Depreciation expenses of Fortress’ property and equipment for the years ended December 31, 2021 and 2020 was $2.6 million and $2.3 million, respectively, and was recorded in research and development, and selling, general and administrative expense in the Consolidated Statements of Operations.