Property and Equipment

3 Months Ended

Jun. 30, 2017

Property Plant And Equipment [Abstract]

Property and Equipment

Note 5. Property and Equipment

The components of property and equipment are as follows:

	June 30, 2017			March 31, 2017
Land	$	4,326		$	4,046
Building and building improvements		12,146			10,900
Capital lease asset		16,784			16,784
Leasehold improvements		34,962			34,854
Machinery and equipment		31,340			27,989
Furniture and fixtures		6,211			3,899
Construction in progress		10,075			9,257
Total cost		115,844			107,729
Less accumulated depreciation		(23,040	)		(19,952	)
	$	92,804		$	87,777

In August 2016, the Company entered into a new lease agreement for its existing corporate headquarters in Danvers, Massachusetts (see Note 10). The Company recorded $16.8 million for this lease as a capital lease asset with depreciation expense being recorded on a straight line basis over 15 years.  

In December 2016, the Company entered into a purchase and sale agreement to acquire its existing European headquarters in Aachen, Germany, consisting of 33,000 square feet of space. Pursuant to the purchase and sale agreement, the Company acquired the property in February 2017. The acquisition cost for the land and building was approximately $12.6 million, with $4.0 million being recorded to land and $8.6 million being recorded to the building and building improvements.