Property and Equipment
|3 Months Ended|
Mar. 31, 2018
|Property, Plant and Equipment [Abstract]|
|Property and Equipment||
Property and equipment consists of the following:
As of March 31, 2018, the Company recorded $8.0 million in assets under construction which consists of site improvements and architect fees related to construction of the Company’s new corporate headquarters, of this amount, $7.6 million was funded by the lease obligation pursuant to the sale-leaseback transaction described in Note 10. At completion, the completed asset will be capitalized and depreciated over the term of the lease.
Depreciation expense was $156 thousand and $133 thousand for the three months ended March 31, 2018 and 2017, respectively.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://www.xbrl.org/2003/role/presentationRef