Prepaid Expenses and Other Current Assets

3 Months Ended

Mar. 31, 2018

Prepaid Expenses and Other Current Assets [Abstract]

Prepaid Expenses and Other Current Assets

8.  Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consist of the following:

(in thousands)	March 31,		December 31,
	2018		2017
Inventory	$	733	$	755
Income taxes receivable		363		418
Prepaid expenses		628		549
Other current assets		956		1,073
Total prepaid expenses and other current assets	$	2,680	$	2,795

At March 31, 2018 and December 31, 2017, prepaid expenses and other current assets are comprised primarily of inventory and other current assets. Inventory is being purchased to support the construction of three major nuclear simulation projects related to a significant contract that was executed during the first quarter of 2016. Inventory is recorded at the lower of cost or net realizable value in accordance with ASC 330, Inventory. Other current assets primarily includes value-added tax receivables and cash deposited in a Swedish tax account.