Property, Plant and Equipment
|12 Months Ended|
Dec. 31, 2021
|Property, Plant and Equipment [Abstract]|
|Property, Plant and Equipment||
, Plant and Equipment
For the year ended December 31, 2021, the Company recorded a depreciation expense of $13.5 million (December 31, 2020—$10.7 million). During the year ended December 31, 2021, the Company disposed of property, plant and equipment, amounting to $0.2 million (December 31, 2020—$3.5 million), with net consideration of $0.3 million and a gain of $0.1 million (December 31, 2020—loss of $2.7 million).
As a result of declining performance of the Company’s CBD business during the year ended December 31, 2021, an impairment test was performed for iA CBD’s long-lived assets as of December 31, 2021 (Note 2). The Company concluded that the carrying amount of the long-lived assets exceeded the imputed fair value and recorded an impairment loss on property, plant, and equipment of less than
million for the year ended December 31, 2021 (December 31, 2020
The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections.
Reference 1: http://www.xbrl.org/2003/role/disclosureRef