Local Bounti Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Cover
- Cover Page
Financial Statements
Notes to Financial Statements
Accounting Policies
- Summary of Significant Accounting Policies (Policies)
Notes Tables
Notes Details

Property and Equipment (Details)

v3.23.1

Property and Equipment (Details) - USD ($) $ in Thousands	3 Months Ended
Property and Equipment (Details) - USD ($) $ in Thousands	Mar. 31, 2023	Mar. 31, 2022	Dec. 31, 2022
Property, Plant and Equipment [Line Items]
Less: Accumulated depreciation	$ (8,153)		$ (6,371)
Property and equipment, net	196,907		157,844
Depreciation	1,782	$ 541
Machinery, equipment, and vehicles
Property, Plant and Equipment [Line Items]
Property and equipment, gross	33,271		32,774
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	19,296		19,296
Buildings and leasehold improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	56,322		55,392
Construction-in-progress
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 96,171		$ 56,753

- Definition

The amount of expense recognized in the current period that reflects the allocation of the cost of tangible assets over the assets' useful lives. Includes production and non-production related depreciation.

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- Definition

Amount of accumulated depreciation and amortization from plant, property, and equipment and right-of-use asset from finance lease.

+ References

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Amount, after accumulated depreciation and amortization, of property, plant, and equipment and finance lease right-of-use asset.

+ References

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- Definition

Amount before accumulated depreciation, depletion and amortization of physical assets used in the normal conduct of business and not intended for resale. Examples include, but are not limited to, land, buildings, machinery and equipment, office equipment, and furniture and fixtures.

+ References

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