Property and Equipment

9 Months Ended

Dec. 31, 2017

Property Plant And Equipment [Abstract]

Note 5. Property and Equipment

The components of property and equipment are as follows:

	December 31, 2017			March 31, 2017
	(in $000's)
Land	$	7,550		$	4,046
Building and building improvements		61,086			10,900
Capital lease asset		—			16,784
Leasehold improvements		2,173			34,854
Machinery and equipment		38,336			27,989
Furniture and fixtures		7,503			3,899
Construction in progress		15,958			9,257
Total cost		132,606			107,729
Less accumulated depreciation		(24,629	)		(19,952	)
	$	107,977		$	87,777

In October 2017, the Company entered into a purchase and sale agreement to acquire the Company’s headquarters that it had been leasing in Danvers, Massachusetts. The total acquisition cost for the land and building was approximately $16.5 million, with $3.0 million being recorded to land and $13.0 million being recorded to building and building improvements. In addition, the Company reclassified $32.6 million in leasehold improvements to building and building improvements due to the termination of the lease agreement upon the property acquisition.

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. The Company acquired the property in February 2017. The original 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.