iAnthus Capital Holdings, Inc. Annual report [Section 13 and 15(d), not S-K Item 405]

Annual report [Section 13 and 15(d), not S-K Item 405]

Property, Plant and Equipment

Property, Plant and Equipment

12 Months Ended

Dec. 31, 2024

Property, Plant and Equipment [Abstract]

Note 7 – Property, Plant and Equipment


		As of December 31, 2024
		Cost			Accumulated Depreciation			Net Book Value
Buildings	$		71,870	$		11,970	$		59,900
Leasehold improvements			41,439			26,057			15,382
Production equipment			2,403			1,324			1,079
Processing equipment			2,801			1,559			1,242
Sales equipment			896			784			112
Office equipment			6,551			5,352			1,199
Land			2,716			—			2,716
Construction in progress			5,858			—			5,858
Total	$		134,534	$		47,046	$		87,488


		As of December 31, 2023
		Cost			Accumulated Depreciation			Net Book Value
Buildings	$		74,922	$		10,305	$		64,617
Leasehold improvements			47,693			28,959			18,734
Production equipment			3,504			2,244			1,260
Processing equipment			4,470			3,219			1,251
Sales equipment			1,275			1,054			221
Office equipment			7,079			5,775			1,304
Land			2,894			—			2,894
Construction in progress			3,722			—			3,722
Total	$		145,559	$		51,556	$		94,003

For the year ended December 31, 2024, the Company recorded depreciation expense on property, plant, and equipment of $8.8 million (December 31, 2023— $11.2 million).

During the year ended December 31, 2024, the Company disposed $0.2 million of property, plant and equipment, net (December 31, 2023—$1.7 million), primarily related to the sale of cultivation and manufacturing equipment.

During the year ended December 31, 2024, the Company had reclassified $3.0 million of property, plant and equipment, net to assets classified as held for sale on the consolidated balance sheets, as it plans to sell certain cultivation and processing facilities in Arizona.