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Property and Equipment, net
 12 Months Ended
Dec. 31, 2017
Property and Equipment, net  
Property and Equipment

Note 4 - Property and Equipment, net

 

As of December 31, 2017 and 2016, property and equipment, net consisted of the following (in thousands):

 

 

 

 

 

 

 

 

 

 

 

December 31,

 

 

 

2017

 

2016

 

Land improvements

   

$

24,420

   

$

23,820

 

Building

 

 

38,821

 

 

38,367

 

Equipment

 

 

5,877

 

 

5,185

 

Motor vehicles

 

 

521

 

 

521

 

Furniture and fixtures

 

 

4,016

 

 

4,033

 

Capitalized software

 

 

2,291

 

 

2,099

 

Gross property and equipment

 

 

75,946

 

 

74,025

 

Less: accumulated depreciation

 

 

(43,282)

 

 

(40,345)

 

Property and equipment, net

 

$

32,664

 

$

33,680

 

 

As of December 31, 2017, we had $2.1 million of equipment with $1.7 million of accumulated depreciation that were financed with capital leases. The amortization of these assets is recorded as depreciation expense and is included within selling, general and administrative expenses on our consolidated statements of operations.