Property and Equipment, Net

3 Months Ended

Mar. 31, 2013

5.	Property and Equipment, Net

Property and equipment, net, was comprised of the following at March 31, 2013 and December 31, 2012:


*In thousands*	March 31, 2013			December 31, 2012
Leasehold improvements	$	24,219		$	24,020
Equipment and furniture		20,234			19,876
Construction in progress		19,692			—

		64,145			43,896
Less accumulated depreciation and amortization		(36,936	)		(36,215	)

	$	27,209		$	7,681

Construction in progress as of March 31, 2013 includes $19.5 million related to costs incurred by the Company’s landlord to date in the construction of laboratory and office space in a new facility which is expected to be available for occupancy by the Company in early 2015. See Note 9 for further information.

Depreciation and amortization expense for the three-month periods ended March 31, 2013, and 2012 amounted to $721,000 and $654,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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