Property, plant and equipment, net

12 Months Ended

Dec. 31, 2013

Property Plant And Equipment [Abstract]

Property, plant and equipment, net

5. Property, plant and equipment, net

The components of property, plant and equipment as of December 31, were as follows:

	2013			2012
Land	$	260		$	260
Building and improvements		4,125			3,882
Office furniture and equipment		2,723			2,172
Tooling and equipment		7,595			5,505
Transportation equipment		203			223
Construction in progress		4,844			594
Property, plant and equipment, at cost		19,750			12,636
Accumulated depreciation		(6,646	)		(5,491	)
Property, plant and equipment, net	$	13,104		$	7,145

Property, plant and equipment are recorded at cost. The Company computes depreciation using the straight-line method over the estimated useful lives of the assets. Leasehold improvements are amortized over the shorter of the assets’ useful economic lives or the period from the date the assets are placed in service to the end of the lease term including renewal periods that are considered by the Company to be reasonably assured of being exercised. Depreciation expense totaled $1,528,000, $1,074,000, and $785,000, for the years ended December 31, 2013, 2012, and 2011, respectively.

Repairs and maintenance costs are charged directly to expense as incurred. Major renewals or replacements that substantially extend the useful life of an asset are capitalized and depreciated.

Estimated useful lives by major asset category are as follows:

	Life (in years)
Buildings and improvements	39 Lesser of (i) 39 years, (ii) expected useful life of improvement or (ii) life of lease (including likely extension thereof)
Tooling and equipment	Up to 10 years
Office furniture and equipment	5 – 10
Transportation equipment	3 – 5