XML 71 R11.htm IDEA: XBRL DOCUMENT v3.20.1
Property and Equipment
12 Months Ended
Dec. 31, 2019
Property and Equipment  
Property and Equipment

D.Property and Equipment

Property and equipment consisted of the following at December 31, 2019 and 2018 (in thousands):

December 31,

December 31,

    

2019

2018

Leasehold improvements

$

20,776

    

$

20,684

Machinery and equipment

 

9,384

 

22,558

Computer hardware and software

 

5,692

 

5,494

Furniture and fixtures

 

3,607

 

3,546

Assets under construction

 

 

113

$

39,459

$

52,395

Less accumulated depreciation

 

(32,466)

 

(39,504)

Property and equipment, net

$

6,993

$

12,891

Included in the table above, the Company’s investment in equipment under capital leases was $1.1 million and $595,000, net of accumulated amortization of $1.0 million and $684,000, at December 31, 2019 and 2018, respectively. Depreciation expense was $4.0, $7.4, and $6.0 million for the years ended December 31, 2019, 2018 and 2017, respectively. As a result of the restructuring at the end of the second quarter of 2019, the Company recorded an impairment charge of $2.5 million to write down excess equipment to fair value. During the fourth quarter of 2019, the Company executed an agreement to liquidate the equipment and transferred title to assets with a cost basis of $14.2 million and accumulated depreciation of $12.9 million, for which the Company received a $2 million payment. Included in machinery and equipment in the table above is $6.7 million of cost basis for the remaining equipment that is held for sale at December 31, 2019 and related accumulated depreciation of $6.0 million, for which title will transfer in the first quarter of 2020, triggering an additional $1 million payment to the Company.