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PROPERTY AND EQUIPMENT
 12 Months Ended
Dec. 31, 2021
Property, Plant and Equipment [Abstract]  
PROPERTY AND EQUIPMENT PROPERTY AND EQUIPMENT, NET
Property and equipment, net, consisted of the following (in thousands):
 December 31,
 20212020
Land$2,959 $2,590 
Building11,288 12,737 
Machinery and equipment39,851 40,411 
Office furniture and equipment1,732 2,047 
Computer hardware and software5,285 4,773 
Leasehold and building improvements10,796 10,728 
Construction in progress286 4 
Property and equipment, gross72,197 73,290 
Less accumulated depreciation(38,784)(37,748)
Total property and equipment, net$33,413 $35,542 
The Company has subscription agreements whereby its instruments in inventory may be placed at a customer's location on a rental basis. For instruments classified as operating leases, the cost of these instruments is transferred to machinery and equipment and depreciated, typically over a 5 to 7 year period depending on the circumstance under which the instrument is placed with the customer. Our cost of instruments under operating leases as of December 31, 2021 and 2020 was $15.1 million and $13.6 million, respectively, before accumulated depreciation of $5.8 million and $4.7 million, respectively.
Depreciation expense for property and equipment was $6.4 million, $6.2 million and $3.6 million for the years ended December 31, 2021, 2020 and 2019, respectively.