Property and Equipment

12 Months Ended

Dec. 31, 2014

Property, Plant and Equipment [Abstract]

Property and equipment consist of the following as of December 31, 2014 and 2013 (in thousands):



	December 31,
	2014			2013
Leasehold improvements	$	2,559		$	2,320
Lab and clean room equipment	3,040			2,025
Furniture and equipment	2,398			1,241
Construction in Progress	949			802
Property and equipment, gross	8,946			6,388
Less accumulated depreciation	(3,499		)	(2,302		)
Property and equipment, net	$	5,447		$	4,086

Included in property and equipment is approximately $250,000 of capital leases. The corresponding liability is included in other liabilities in the accompanying condensed consolidated balance sheet. Also included is approximately $1,000,000 in leasehold improvements paid for by the landlord of our new facility with a corresponding liability included in long term liabilities, which is amortized over the term of the lease.

Depreciation expense for the years ended December 31, 2014, 2013, and 2012 was approximately $1,197,000, $637,000, and $465,000, 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.

+ References+ Details