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Property and Equipment | 6 Months Ended
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Jun. 30, 2022
Property, Plant and Equipment [Abstract] |
Property and Equipment, net | Property and Equipment, Net Property and equipment consisted of the following (in thousands):
| June 30, 2022 |  | December 31, 2021
Furniture and equipment | $ | 5,192 |  |  | $ | 5,100 |
Leasehold improvements | 15,490 |  |  | 14,952 |
Processing equipment | 4,156 |  |  | 3,984 |
Land | 731 |  |  | 731 |
Projects in process | 54,341 |  |  | 45,660 |
Finance lease right-of-use assets | 110 |  |  | 110 |
Property and equipment, at cost | 80,020 |  |  | 70,537 |
Less: accumulated depreciation and amortization | (9,032) |  |  | (7,614) |
Property and equipment, net | $ | 70,988 |  |  | $ | 62,923 |
The Company further added to its projects in process total which is related to our Axogen Processing Center (“APC Facility”). See "Note 12 - Commitments and Contingencies." Depreciation expense consisted of following (in thousands):
| Three Months Ended June, 30 |  | Six Months Ended June 30,
| 2022 |  | 2021 |  | 2022 |  | 2021
Depreciation expense | $ | 713 |  |  | $ | 633 |  |  | $ | 1,418 |  |  | $ | 1,405 |
Depreciation expense is allocated among cost of sales, sales and marketing, research and development, and general and administrative expense on the condensed consolidated statements of operations.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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