Property and Equipment

9 Months Ended

Sep. 30, 2021

Property, Plant and Equipment [Abstract]

Property and Equipment

7. Property and Equipment

Property and equipment consisted of the following:

(Dollars in thousands)	September 30, 2021			December 31, 2020
Furniture and fixtures	$	3,909		$	4,363
Leasehold improvements		1,637			1,637
Vehicles		824			824
Total cost		6,370			6,824
Less accumulated depreciation		(3,915	)		(3,715	)
Total property and equipment, net	$	2,455		$	3,109

Purchases of property and equipment totaled $0.2 million and $0.4 million for the nine months ended September 30, 2021 and 2020, respectively. Depreciation expense totaled $0.6 million and $1.4 million for the nine months ended September 30, 2021 and 2020, respectively.

During the nine months ended September 30, 2021, the Company disposed of fixed assets with a net book value of $0.5 million resulting in a loss on disposal of fixed assets of $0.4 million. As a result of these disposals, the Company received funds of $0.1 million from the sales of the disposed assets. Gain on disposal of fixed assets was $0.1 million for the nine months ended September 30, 2020.