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Property And Equipment

6 Months Ended

Jun. 30, 2014

Property and equipment consist of the following:

	June 30,				December 31,
	2014		2013		2013
Land	$	1,856,370	$	1,178,160	$	1,856,370
Buildings and improvements		15,305,616		12,220,693		14,587,022
Machinery and equipment		20,773,006		16,007,943		19,633,164
Vehicles		1,244,560		1,350,608		1,244,560
Office equipment		433,679		429,013		433,679
Construction in process		0		0		177,519
		39,613,231		31,186,417		37,932,314
Less accumulated depreciation		18,119,104		16,467,657		17,107,866
Total property and equipment	$	21,494,127	$	14,718,760	$	20,824,448

Lifeway completed the purchase of Golden Guernsey’s assets on July 2, 2013. The cost was approximately $7.4 million.

Depreciation expense during the six months ended June 30, 2014 and 2013 was $1,011,238 and $815,832 respectively.

- 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.

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