Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v3.19.1
Property and Equipment
12 Months Ended
Dec. 31, 2018
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment Disclosure [Text Block]
Note 6 – Property and Equipment
 
Property and equipment consist of the following at December 31:
 
 
 
2018
 
 
2017
 
(
in thousands
)
 
 
 
 
 
 
Land and improvements
 
$
400
 
 
$
400
 
Buildings and leasehold improvements
 
 
7,022
 
 
 
6,102
 
Machinery and equipment
 
 
24,913
 
 
 
19,256
 
Gross property and equipment
 
 
32,335
 
 
 
25,758
 
Less:  Accumulated depreciation
 
 
(11,808
)
 
 
(7,840
)
Property and equipment, net of accumulated depreciation
 
$
20,527
 
 
$
17,918
 
  
The cost of assets recorded under capital leases was $10.7 million and $7.8 million at December 31, 2018 and 2017, respectively. Accumulated depreciation on these capital leases was $5.4 million and $4.0 million at December 31, 2018 and 2017, respectively. The depreciation expense from assets recorded under capital leases is included in depreciation.
 
Depreciation expense was $4.4 million for the year ended December 31, 2018 and $5.5 million for the year ended December 31, 2017.