Property and Equipment

6 Months Ended

Sep. 30, 2017

Property Plant And Equipment [Abstract]

Property and Equipment

Note 5. Property and Equipment

The components of property and equipment are as follows:

	September 30, 2017			March 31, 2017
Land	$	4,474		$	4,046
Building and building improvements		13,669			10,900
Capital lease asset		16,784			16,784
Leasehold improvements		37,292			34,854
Machinery and equipment		33,677			27,989
Furniture and fixtures		7,578			3,899
Construction in progress		10,458			9,257
Total cost		123,932			107,729
Less accumulated depreciation		(26,235	)		(19,952	)
	$	97,697		$	87,777

In August 2016, the Company entered into a new lease agreement to expand its existing corporate headquarters in Danvers, Massachusetts (see Note 10). The Company recorded $16.8 million for this lease as a capital lease asset with depreciation expense being recorded on a straight line basis over 15 years. In September 2017, the Company exercised its option to buy the corporate headquarters, including land and improvements, pursuant to the terms of the existing lease agreement. The Company entered into a purchase and sale agreement with the landlord and acquired the Company’s headquarters for approximately $16.5 million on October 30, 2017.

In December 2016, the Company entered into a purchase and sale agreement to acquire its existing European headquarters in Aachen, Germany, consisting of 33,000 square feet of space. The Company acquired the property in February 2017. The acquisition cost for the land and building was approximately $12.6 million, with $4.0 million being recorded to land and $8.6 million being recorded to the building and building improvements.