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

D.       Property and Equipment

Property and equipment consisted of the following at December 31, 2017 and 2016 (in thousands):

 

 

 

 

 

 

 

 

 

 

December 31,

 

December 31,

 

 

    

2017

 

2016

 

Leasehold improvements

 

$

36,460

    

$

36,584

 

Machinery and equipment

 

 

23,123

 

 

23,535

 

Computer hardware and software

 

 

8,273

 

 

8,395

 

Furniture and fixtures

 

 

3,710

 

 

3,705

 

Assets under construction

 

 

416

 

 

124

 

 

 

$

71,982

 

$

72,343

 

Less accumulated depreciation

 

 

(57,444)

 

 

(52,845)

 

Property and equipment, net

 

$

14,538

 

$

19,498

 

Depreciation expense was $6.0, $3.1, $5.3,  and $5.5 million for the year ended December 31, 2017, the six months ended December 31, 2016 and for the years ended June 30, 2016 and 2015, respectively. Included in the table above, the Company’s investment in equipment under capital leases was $449,000 and $583,000, net of accumulated amortization of $479,000 and $290,000, at December 31, 2017 and 2016, respectively.