Company: PCRX
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001396814-25-000061
Chunk: 134

Company: Pacira BioSciences, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 8
Chunk 134
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 assets, net, summarized by major category, consist of the following (in thousands):March 31,December 31,20252024Machinery and equipment (1)$160,290 $160,643 Leasehold improvements (1)86,663 86,034 Computer equipment and software (1)24,792 23,473 Office furniture and equipment1,952 1,952 Construction in progress (1)30,529 27,996         Total304,226 300,098 Less: accumulated depreciation(139,775)(132,929)        Fixed assets, net$164,451 $167,169 (1) In April 2025, subsequent to the three months ended March 31, 2025, a ZILRETTA fill line at the Company’s manufacturing facility in Swindon, UK, was placed into service, for which approximately $23.1 million was reclassified from construction in progress to machinery and equipment, leasehold improvements and computer equipment and software.For the three months ended March 31, 2025 and 2024, depreciation expense was $6.8 million and $4.1 million, respectively. For the three months ended March 31, 2025 and 2024, there was $0.1 million and $0.7 million of capitalized interest on the construction of manufacturing sites, respectively.As of March 31, 2025 and December 31, 2024, total fixed assets, net, includes manufacturing process equipment and leasehold improvements located outside of the U.S. in the amount of $50.0 million and $51.1 million, respectively. As of March 31, 2025 and December 31, 2024, the Company had asset retirement obligations of $4.3 million and $4.2 million, respectively, included in accrued expenses and other liabilities on its condensed consolidated balance sheets, for costs associated with returning leased spaces to their original condition upon the termination of certain of its lease agreements.

Pacira BioSciences, Inc.  |  Q1 2025 Form 10-Q  |  Page 14

NOTE 7—LEASES

The Company leases all of its facilities, including its EXPAREL and iovera° handpiece manufacturing facility at its Science Center Campus in San Diego, California. The Company also has two embedded leases with Thermo Fisher Scientific Pharma Services for the