PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

Property and equipment, net, consisted of the following (in thousands):

	December 31,
	2019			2018
Land	$	694		$	377
Building	3,845			2,978
Machinery and equipment	28,777			33,087
Office furniture and equipment	1,345			1,687
Computer hardware and software	3,408			4,704
Leasehold and building improvements	10,558			9,953
Construction in progress	671			1,274
Property and equipment, gross	49,298			54,060
Less accumulated depreciation	(33,829		)	(38,079		)
Total property and equipment, net	$	15,469		$	15,981

The Company has subscription agreements whereby its instruments in inventory may be placed in a customer's location on a rental basis. The cost of these instruments is transferred to machinery and equipment and depreciated, typically over a five to seven-year period depending on the circumstance under which the instrument is placed with the customer. Our cost of equipment under operating leases at December 31, 2019 and 2018, respectively, was $8.1 million and $10.8 million, before accumulated depreciation of $4.6 million and $6.1 million.

Depreciation expense for property and equipment was $3.6 million, $4.2 million and $4.3 million for the years ended December 31, 2019, 2018 and 2017, respectively.