Property, Plant and Equipment, Net

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property, Plant and Equipment, Net

6. Property, Plant and Equipment, Net

At December 31, 2017 and 2016, property, plant and equipment were comprised of the following (in thousands):

	December 31,
	2017 (1)		2016 (2)
Equipment, furniture and fixtures	$	4,255	$	4,718
Leasehold improvements		4,434		3,791
Accumulated depreciation and amortization		(3,156)		(2,980)
Property and equipment, net	$	5,533	$	5,529

(1)	Reflects the effect of the OncoCyte Deconsolidation.
(2)	Reflects the effect of the Asterias Deconsolidation

Property, plant and equipment at December 31, 2017 and 2016 includes $151,000 and $626,000 financed by capital leases, respectively. Depreciation and amortization expense amounted to $0.9 million, $1.2 million and $1.1 million for the years ended December 31, 2017, 2016 and 2015, respectively.

Leasehold improvements

Leasehold improvements of approximately $1.6 million was transferred to property, plant and equipment as of June 1, 2016 when BioTime completed construction of leasehold improvements at its Alameda facility (see Note 12). Under the terms of the lease agreement, the landlord provided BioTime with an initial tenant improvement allowance of up to $1.4 million, which BioTime utilized entirely to construct a research and development laboratory, a diagnostic testing laboratory, and a small production facility that can be used to manufacture small cell banks and clinical materials for clinical studies. Additional leasehold improvements of approximately $200,000 paid by BioTime were not reimbursable by the landlord. The tenant improvements are amortized over the shorter of the useful life of the assets or the lease term.