Property and Equipment

3 Months Ended

Mar. 31, 2022

Property, Plant and Equipment [Abstract]

Property and Equipment

8. Property and Equipment

Property and equipment consisted of the following:

(Dollars in thousands)	March 31, 2022			December 31, 2021
Furniture and fixtures	$	3,815		$	3,779
Leasehold improvements		1,483			1,386
Vehicles		814			814
Total cost		6,112			5,979
Less accumulated depreciation		(3,961	)		(3,816	)
Total property and equipment, net	$	2,151		$	2,163

Purchases of property and equipment totaled $1.4 million and $15,253 for the three months ended March 31, 2022 and 2021, respectively. During the three months ended March 31, 2022, the Company invested $1.3 million in the digital can printer that was not in operations at quarter-end. Depreciation expense totaled $0.1 million and $0.2 million for the three months ended March 31, 2022 and 2021, respectively.

During the three months ended March 31, 2021, the Company disposed of fixed assets with a net book value of $0.2 million resulting in a loss on disposal of fixed assets of $0.1 million. As a result of these disposals, the Company received funds of $0.1 million from the sales of the disposed assets.