Property and Equipment

12 Months Ended

Dec. 31, 2011

Note 4 — Property and Equipment

Property and equipment consist of the following (in thousands):


	December 31,
	2011			2010
Building and leasehold improvements	$	72,473		$	73,150
Laboratory equipment		33,705			31,871
Manufacturing equipment		12,135			13,386
Furniture, fixtures and other equipment		20,750			22,803

Depreciable property and equipment at cost		139,063			141,210
Less: accumulated depreciation		(62,237	)		(53,994	)

Depreciable property and equipment, net		76,826			87,216
Construction- in-progress		1,750			2,557

Property and equipment, net	$	78,576		$	89,773

Building and leasehold improvements include our commercial manufacturing, clinical manufacturing, research and development and administrative facilities and the related improvements to these facilities. Laboratory and manufacturing equipment include assets that support both our manufacturing and research and development efforts. Construction-in-progress includes assets being built to enhance our manufacturing and research and development facilities. Property and equipment includes assets acquired through capital leases (See Note 6).

Depreciation expense, including depreciation of assets acquired through capital leases, for the years ended December 31, 2011, 2010, and 2009 was $15.0 million, $14.8 million, and $12.7 million, respectively.

On November 29, 2010, we relocated all of our operations formerly located in San Carlos, California, including our corporate headquarters, to our Mission Bay Facility in San Francisco, California. This event triggered a $12.6 million impairment charge for the remaining assets located in San Carlos, which was recognized in November 2010 (see Note 10).

- 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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