Property and Equipment

6 Months Ended

Jun. 29, 2014

Note 7 Property and Equipment

Property and equipment are recorded at cost. Depreciation of building and equipment (including assets recorded under capital leases) and amortization of leasehold improvements are computed using the straight-line method over the estimated useful life of the assets, or for leasehold improvements, over the remaining life of the lease term if shorter.

Expenditures that improve or extend the lives of property and equipment are capitalized. Expenditures for maintenance and repairs are charged to expense as incurred.

The fair value of the property and equipment acquired as a result of the Merger are allocated to machinery and equipment, furniture, fixtures and leasehold improvements and construction in process was $4,420, $30 and $732, respectively.

Property and equipment consist of the following as of:

							Estimated
	June 29, 2014			December 31, 2013			Useful Life
Land	$	337		$	338		—
Building	2,643			2,653			33
Machinery and equipment	51,652			47,476			7-10
Furniture, fixtures and leasehold improvements	7,150			7,081			3-5
	61,782			57,548
Less accumulated depreciation and amortization	(34,953		)	(32,152		)
	26,829			25,396
Construction in process	2,222			5,337
Property and equipment, net	$	29,051		$	30,733

- 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.

+ References+ Details