Company: PGEN
Filing Date: 2025-03-19
Form Type: 10-K
Source: 0001356090-25-000007
Chunk: 311

Company: PRECIGEN, INC.
Filing Date: 2025-03-19
Form: 10-K
Item: Item 16
Chunk 311
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 stock price range to the corresponding PIK Warrant payment date of  $0.06 to $3.05. See Notes 8 and 9 for discussion of non-recurring fair value estimates used in calculating impairment charges recorded during the years ended December 31, 2024, 2023, and 2022.

8. Property, Plant and Equipment, Net

Property, plant and equipment consist of the following: December 31, 20242023Land and land improvements$164 $164 Buildings and building improvements2,629 2,629 Furniture and fixtures364 530 Equipment16,774 18,576 Leasehold improvements4,478 4,380 Breeding stock88 79 Computer hardware and software3,186 3,459 Construction and other assets in progress9,019 1,577 36,702 31,394 Less: Accumulated depreciation and amortization(22,871)(24,283)Property, plant and equipment, net$13,831 $7,111 Depreciation expense was $1,467, $1,820, and $2,393 for the years ended December 31, 2024, 2023, and 2022, respectively.Recorded impairment losses of $598, $445 and $638 for the years ended December 31, 2024, 2023, and 2022, respectively, are included in impairment of other noncurrent assets on the accompanying consolidated statement of operations and are primarily related to right-of-use assets and fixed assets at certain of the Company's leased locations.

As discussed in Note 1, during 2024, the Company suspended ActoBio's operations. As a result, the Company reviewed the related property, plant and equipment and right-of-use assets for impairment. Based on the estimated undiscounted cash flows, the Company determined that the related asset values were not fully recoverable and calculated estimated fair values using market participant assumptions. The estimated fair values were lower than the carrying values, and the Company recorded impairment losses of $110 related to property, plant, and equipment and $488 related to the right-of-use assets, which are included in impairment of other noncurrent assets in the accompanying consolidated statements of operations for the year ended December 31, 2024. 

9. Goodwill and Intangible Assets, Net

The changes in the carrying amount of goodwill for the years ended December 31, 202