Prepaid Expenses and Other Current Assets

9 Months Ended

Sep. 30, 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)	September 30,		December 31,
	2018		2017
Inventory	$	261	$	755
Income taxes receivable		296		418
Prepaid expenses		298		549
Other current assets		769		1,073
Total prepaid expenses and other current assets	$	1,624	$	2,795

At September 30, 2018 and December 31, 2017, prepaid expenses and other current assets are comprised primarily of inventory and other current assets. Inventory has been purchased and used 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.