Redwire Corporation General form of registration statement for all companies including face-amount certificate companies

General form of registration statement for all companies including face-amount certificate companies

Property, Plant and Equipment, net

Property, Plant and Equipment, net

6 Months Ended

11 Months Ended

Jun. 30, 2021

Dec. 31, 2020

Property, Plant and Equipment, net

Property, Plant and Equipment, net

Note G — Property, Plant and Equipment, net

The property, plant and equipment, net balances are as follows:


	Successor
	June 30,		December 31,
	2021		2020
Computer equipment	$	1,103	$	739
Furniture and fixtures		626		442
Laboratory equipment		2,009		1,357
Software		736		359
Leasehold improvements		1,447		672
Construction in process		304		—
Less: accumulated depreciation		(1,110)		(307)
	$	5,115	$	3,262

Depreciation expense related to property, plant and equipment was $797 thousand, $41 thousand and $59 thousand for the Successor 2021 Period, Successor Q2 2020 Period, and Predecessor 2020 Period, respectively.

The Company occasionally designs and builds its own machinery. The cost of these projects, including direct material and labor, and other indirect costs attributable to the construction, are capitalized as construction in progress. No provision for depreciation is made on construction in progress until the related assets are completed and placed in service.

Note G – Property, Plant and Equipment, net

The property, plant and equipment, net balances are as follows:


	Successor		Predecessor
	December 31,		December 31,
	2020		2019
Computer equipment	$	739	$	128
Furniture and fixtures		442		43
Laboratory equipment		1,357		13
Software		359		36
Leasehold improvements		672		103
Less: accumulated depreciation		(307)		(70)
	$	3,262	$	253

Depreciation expense related to property, plant and equipment was $307 thousand, $59 thousand and $66 thousand for the Successor 2020 Period, the Predecessor 2020 Period, and the Predecessor 2019 Period respectively.