Property and Equipment

3 Months Ended

Mar. 31, 2017

Property, Plant and Equipment [Abstract]

Property and Equipment

Note 7: Property and Equipment

	(in thousands)
	March 31, 2017			December 31, 2016
Land, buildings and improvements	$	10,530		$	10,530
Furniture, fixtures, and equipment		5,625			5,630
Total property and equipment		16,155			16,160
Less: accumulated depreciation and amortization		(6,898	)		(6,646	)
Property and equipment, net	$	9,257		$	9,514

Property and equipment are recorded at cost. Depreciation and amortization are computed using the straight-line method over the estimated useful lives of the respective assets, ranging from three to thirty-nine years. The Company also reclassified an underutilized building as an asset held for resale totaling $764,000 adjacent to its New Jersey manufacturing facility site that it is in the process of selling.