Sarepta Therapeutics, Inc. PP&E Disclosure
Property and equipment are recorded at historical cost, net of accumulated depreciation and accumulated impairment losses. The following table summarizes components of property and equipment, net, for each of the periods indicated:
|
|
As of December 31, |
|
|||||
|
|
2025 |
|
|
2024 |
|
||
|
|
(in thousands) |
|
|||||
Leasehold improvements |
|
$ |
349,726 |
|
|
$ |
155,073 |
|
Lab and manufacturing equipment |
|
|
135,310 |
|
|
|
129,881 |
|
Software and computer equipment |
|
|
55,358 |
|
|
|
50,179 |
|
Building and improvements |
|
|
52,232 |
|
|
|
51,178 |
|
Furniture and fixtures |
|
|
13,815 |
|
|
|
10,399 |
|
Land and land improvements |
|
|
10,171 |
|
|
|
10,171 |
|
Construction in progress |
|
|
5,576 |
|
|
|
165,901 |
|
Office equipment |
|
|
3,852 |
|
|
|
1,699 |
|
Property and equipment, gross |
|
|
626,040 |
|
|
|
574,481 |
|
Less: accumulated depreciation |
|
|
(280,472 |
) |
|
|
(233,704 |
) |
Less: accumulated impairment loss |
|
|
(443 |
) |
|
|
(441 |
) |
Property and equipment, net |
|
$ |
345,125 |
|
|
$ |
340,336 |
|
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 2, 2026 | Showing above |
| 2024 | Feb 28, 2025 | |
| 2023 | Feb 28, 2024 | |
| 2022 | Feb 28, 2023 | |
| 2021 | Mar 1, 2022 | |
| 2020 | Mar 1, 2021 | |
| 2019 | Feb 26, 2020 | |
| 2018 | Feb 28, 2019 | |
| 2017 | Mar 1, 2018 | |
| 2016 | Feb 28, 2017 | |
| 2015 | Feb 25, 2016 | |
About PP&E Disclosures
The PP&E disclosure details a company's physical asset base — land, buildings, machinery, and equipment — along with the depreciation methods and useful life assumptions that determine how these costs flow through the income statement. Capitalization policy thresholds reveal management's judgment on the boundary between expense and asset, directly affecting both reported earnings and asset values.
Key signals: changes in estimated useful lives or depreciation methods can materially shift reported earnings without any operational change. Compare capital expenditures against depreciation expense — when capex consistently trails depreciation, the asset base may be aging and underinvested. Watch for large asset impairments or write-downs that signal overvalued carrying amounts. Asset retirement obligations reveal future environmental or decommissioning costs that are often underappreciated. Compare PP&E intensity (PP&E-to-revenue) against industry peers to assess capital efficiency and competitive positioning.