Property and Equipment

12 Months Ended

Mar. 31, 2018

Property Plant And Equipment [Abstract]

Note 6. Property and Equipment

The components of property and equipment are as follows:

	March 31, 2018			March 31, 2017
	(in $000's)
Land	$	7,680		$	4,046
Building and building improvements		63,700			10,900
Capital lease asset		—			16,784
Leasehold improvements		2,905			34,854
Machinery and equipment		42,787			27,989
Furniture and fixtures		8,104			3,899
Construction in progress		19,850			9,257
Total cost		145,026			107,729
Less accumulated depreciation		(27,859	)		(19,952	)
	$	117,167		$	87,777

In October 2017, the Company acquired its corporate headquarters that it had been leasing in Danvers, Massachusetts. The total acquisition cost for the land and building was approximately $16.5 million, with $3.0 million being recorded to land and $13.0 million being recorded to building and building improvements. In addition, the Company reclassified $32.6 million in leasehold improvements to building and building improvements due to the termination of the lease agreement upon the property acquisition.

In February 2017, the Company acquired its existing European headquarters in Aachen, Germany, consisting of 33,000 square feet of space. 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.

Depreciation expense related to property and equipment was $11.0 million, $6.2 million, and $3.3 million for the fiscal years ending March 31, 2018, 2017 and 2016, respectively.