XML 35 R11.htm IDEA: XBRL DOCUMENT
v3.8.0.1

Property and Equipment | 12 Months Ended
--- | ---
Dec. 31, 2017
Property Plant And Equipment [Abstract] |
Property and Equipment | 4. Property and Equipment Property and equipment consist of the following (in thousands):
|  | Estimated Useful |  |  | December 31, |
|  | Life (Years) |  |  | 2017 |  |  | 2016 |
Land |  |  | — |  |  | $ | 875 |  |  | $ | 875 |
Buildings |  | 39-40 |  |  |  | 17,389 |  |  |  | 17,389 |
Building improvements |  | 5-40 |  |  |  | 34,957 |  |  |  | 34,957 |
Machinery and equipment |  | 3-15 |  |  |  | 62,681 |  |  |  | 62,992 |
Furniture, fixtures and office equipment |  | 5-10 |  |  |  | 3,556 |  |  |  | 3,556 |
Computer equipment and software |  |  | 3 |  |  |  | 8,416 |  |  |  | 8,531 |
Construction in progress |  |  | — |  |  |  | — |  |  |  | 202 |
|  |  |  |  |  |  | 127,874 |  |  |  | 128,502 |
Less accumulated depreciation |  |  |  |  |  |  | (100,952 | ) |  |  | (99,575 | )
Total property and equipment, net |  |  |  |  |  | $ | 26,922 |  |  | $ | 28,927 |
Depreciation and amortization expense related to property and equipment for the years ended December 31, 2017, 2016 and 2015, was $1.8 million, $2.4 million and $11.0 million, respectively. In 2015, in connection with the Company’s quarterly assessment of impairment indicators, the Company evaluated the continued lower than expected sales of Afrezza as reported by Sanofi throughout the fourth quarter of 2015, revised forecasts for sales of Afrezza provided by Sanofi in the fourth quarter of 2015 and level of commercial production in the fourth quarter of 2015, as well as the uncertainty associated with Sanofi’s announcement during the fourth quarter of their intent to reorganize their diabetes business. These factors indicated potentially significant changes in the timing and extent of cash flows, and the Company therefore determined that an impairment indicator existed in the fourth quarter of 2015. Based on the evaluation performed it was determined that the probability weighted undiscounted cash flows were not sufficient to recover the carrying value of the Danbury manufacturing facility. As a result of this assessment, the Company recorded, as of December 31, 2015, an impairment charge of $138.6 million for the Danbury manufacturing facility. An impairment of $0.7 million was charged to the individual asset groups for the year ended December 31, 2016, which is included in property and equipment impairment in the accompanying consolidated statements of operations, additionally with a $0.6 million impairment charge related to assets held for sale. On January 6, 2017, the Company and Rexford Industrial Realty, L.P. (“Rexford”) entered into an Agreement of Purchase and Sale and Joint Escrow Instructions (the “Purchase Agreement”), pursuant to which the Company agreed to sell and Rexford agreed to purchase certain parcels of real estate owned by the Company in Valencia, California and certain related improvements, personal property, equipment, supplies and fixtures (collectively, the “Property”) for $17.3 million. This asset in the amount of $16.7 million was classified as held for sale as of December 31, 2016. The sale and purchase of the Property for $17.3 million pursuant to the terms of the Purchase Agreement, as amended, was completed on February 17, 2017. Net proceeds were $16.7 million after deducting broker’s commission and other fees of approximately $0.6 million paid by the Company. Net proceeds received approximated the carrying value of the asset held for sale.

X
- References No definition available. + Details
Name: | us-gaap_PropertyPlantAndEquipmentAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
Name: | us-gaap_PropertyPlantAndEquipmentDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration