Property and Equipment, Net

6 Months Ended

Jun. 30, 2020

Property, Plant and Equipment [Abstract]

Property and Equipment, Net

6. Property and Equipment, Net

At June 30, 2020 and December 31, 2019, property and equipment was comprised of the following (in thousands):

	June 30, 2020		December 31, 2019
	(unaudited)
Equipment, furniture and fixtures	$	4,128	$	4,148
Leasehold improvements		2,841		2,862
Right-of-use assets (1)		5,780		5,756
Accumulated depreciation and amortization		(5,607)		(4,591)
Property and equipment, net	$	7,142	$	8,175

(1) Lineage adopted ASC 842 on January 1, 2019. For additional information on this standard and right-of-use assets and liabilities (see Notes 2 and 15).

Property and equipment at both June 30, 2020 and December 31, 2019 includes $96,000 in financing leases. Depreciation and amortization expense amounted to $210,000 and $244,000 for the three months ended June 30, 2020 and 2019, and $423,000 and $513,000 for the six months ended June 30, 2020 and 2019, respectively. During the three and six months ended June 30, 2020, Lineage sold equipment with a net book value of $13,000 and recognized a loss of $2,000. Additionally, Lineage sold non-capitalized assets for a gain of $46,000. Both the gain and loss are included in research and development expenses on the statement of operations.