Property and Equipment

12 Months Ended

Dec. 31, 2020

Property and Equipment

Property and Equipment

D.Property and Equipment

Property and equipment consisted of the following at December 31, 2020 and 2019 (in thousands):

	December 31,		December 31,
	2020		2019
Leasehold improvements	$	21,890	$	20,776
Machinery and equipment		2,861		9,384
Computer hardware and software		5,636		5,692
Furniture and fixtures		3,039		3,607
Assets under construction		97		—
	$	33,523	$	39,459
Less accumulated depreciation		(27,763)		(32,466)
Property and equipment, net	$	5,760	$	6,993

Included in the table above are amounts capitalized for equipment under capital leases at December 31, 2020 and 2019 totaling $2.1 million, net of accumulated amortization of $1.3 million and $1.0 million, respectively. Depreciation expense was $2.1 million, $4.0 million , and $7.4 million for the years ended December 31, 2020, 2019 and 2018, 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. During the year ended December 31, 2020, the Company liquidated the remaining equipment with a cost basis of $6.7 million for an additional $1.2 million payment to the Company.