Property and Equipment

12 Months Ended

Dec. 31, 2018

Property and Equipment

Property and Equipment

D.       Property and Equipment

Property and equipment consisted of the following at December 31, 2018 and 2017 (in thousands):

	December 31,		December 31,
	2018		2017
Leasehold improvements	$	20,684	$	36,460
Machinery and equipment		22,558		23,123
Computer hardware and software		5,494		8,273
Furniture and fixtures		3,546		3,710
Assets under construction		113		416
	$	52,395	$	71,982
Less accumulated depreciation		(39,504)		(57,444)
Property and equipment, net	$	12,891	$	14,538

Depreciation expense was $7.4,  $6.0,  $3.1, and $5.3 million for the years ended December 31, 2018 and 2017, the six months ended December 31, 2016, and for the year ended June 30, 2016, respectively. Included in the table above, the Company’s investment in equipment under capital leases was $595,000 and $449,000,  net of accumulated amortization of $684,000 and $479,000, at December 31, 2018 and 2017, respectively.