Property, plant and equipment, net

12 Months Ended

Dec. 31, 2016

Property, plant and equipment, net [Abstract]

Property, plant and equipment, net

5. Property, plant and equipment, net

At December 31, 2016 and 2015, property, plant and equipment were comprised of the following (in thousands):

	December 31,
	2016(1)			2015
Equipment, furniture and fixtures	$	4,718		$	5,274
Leasehold improvements		3,791			5,623
Construction in progress		-			93
Accumulated depreciation and amortization		(2,980	)		(3,451	)
Property and equipment, net	$	5,529		$	7,539

(1) Reflects the effect of the Asterias Deconsolidation.

Property, plant and equipment at December 31, 2016 include $626,000 and $33,800 financed by capital lease borrowings in 2016 and 2015, respectively. Depreciation and amortization expense amounted to $1.2 million, 1.1 million and $1.1 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Leasehold improvements

Leasehold improvements of approximately $1.6 million was transferred to property, plant and equipment as of June 1, 2016 when BioTime completed construction of leasehold improvements at its new Alameda facility (see Note 5). Under the terms of the lease agreement, the landlord provided BioTime with an initial tenant improvement allowance of up to $1.4 million, which BioTime utilized entirely to construct a research and development laboratory, a diagnostic testing laboratory, and a small production facility that can be used to manufacture small cell banks and clinical materials for clinical studies. Additional leasehold improvements of approximately $200,000 paid by BioTime were not reimbursable by the landlord. The tenant improvements will be amortized over the shorter of the useful life of the assets or the lease term.