Property and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property and equipment consist of the following (in thousands):



	December 31,
	2014			2013
Furniture and equipment	$	4,613		$	3,798
Surgical instruments	27,068			19,345
Leasehold improvements	1,226			608
	32,907			23,751
Less accumulated depreciation and amortization	(13,882		)	(11,056		)
	$	19,025		$	12,695

Included in property and equipment are instrument sets used by surgeons during the implant process. Depreciation on the instrument sets commences once the instrument set has been placed into service. As of December 31, 2014 and 2013, the Company had $2.3 million and $2.0 million, respectively, in instrument sets that had not yet been placed into service.

The Company had approximately $690,000 in instrument sets and equipment under capital lease as of December 31, 2013 and accumulated amortization thereon of approximately $660,000. The Company did not have instrument sets or equipment under capital lease as of December 31, 2014.

For the years ended December 31, 2014, 2013 and 2012, the Company recorded depreciation expense of $4.1 million, $3.5 million and $2.7 million, respectively, including amortization of instrument sets and equipment under capital leases of $29,000, $133,000 and $129,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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