Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.7.0.1
Property and Equipment
6 Months Ended
Jun. 30, 2017
Property, Plant and Equipment [Abstract]  
Property and Equipment

4. Property and Equipment

Property and equipment consists of the following:

 

(Amounts in Thousands)    June 30, 2017      December 31, 2016  

Land

   $ 5,690      $ 5,690  

Buildings and other improvements

     4,304        4,304  

Leasehold improvements

     169        169  

Office furniture and equipment

     1,621        1,506  

Computer equipment and software

     20        20  

Assets under construction

     530        37  
  

 

 

    

 

 

 
     12,334        11,726  

Less accumulated depreciation

     (1,000      (732
  

 

 

    

 

 

 

Property and equipment, net

   $ 11,334      $ 10,994  
  

 

 

    

 

 

 

As of June 30, 2017, the Company recorded $530 thousand in assets under construction for site improvements and architect fees related to phase two of the corporate headquarter plan (Note 13).

Depreciation expense was $134 thousand and $15 thousand for the three months ended June 30, 2017 and 2016, respectively. Depreciation expense was $268 thousand and $69 thousand for the six months ended June 30, 2017 and 2016, respectively.