PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2014

NOTE 3 - PROPERTY AND EQUIPMENT

Composition of property and equipment grouped by major classifications is as follows:

	December 31,
(U.S. dollars in thousands)	2013			2014
Laboratory equipment	$	14,858		$	15,138
Furniture and computer equipment		2,074			2,154
Leasehold improvements		15,070			15,427
Equipment under construction		28			17
	$	32,030		$	32,736
Less – accumulated depreciation
and amortization		(18,319	)		(21,454	)
	$	13,711		$	11,282

Depreciation and amortization in respect of property and equipment totaled approximately $3.7 million, $3.5 million and $3.1 million for the years ended December 31, 2012, 2013 and 2014, respectively.

- Definition

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.

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