|3 Months Ended|
Sep. 30, 2023
|Fixed Assets [Abstract]|
11. Fixed Assets
The following table summarizes by category the gross carrying value and accumulated depreciation of fixed assets (in thousands):
Depreciation expense reported in continuing operations was approximately $165,000 and $0 for the three months ended September 30, 2023 and 2022.
At September 30, 2023 and June 30, 2023 fixed assets held for sale in the amount of $16,124,000 are included in assets held for sale. The depreciation expense for the three months ended September 30, 2023 and 2022 was $0 and $271,000, respectively, and is reported as part of loss from discontinued operations.
The Company re-evaluated its business strategy and reviewed its product portfolio during Fiscal 2023 which resulted in an impairment charge of approximately $17.9 million to the assets held for sale. See Note 5 - Financial Instruments and Fair Value Measurement for more information.
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://fasb.org/us-gaap/role/ref/legacyRef