Property And Equipment

(4) Property and Equipment

Property and equipment at June 30, 2013 and December 31, 2012 were as follows:



(in thousands)	2013		2012		Useful Life (in years)
Land	$	541	$	541	N/A
Building		9,315		9,315	25
Machinery and equipment		47,919		45,869	3-7
Capitalized software — ERP		3,730		3,181	5
Office furniture and equipment		3,518		3,357	5
Leasehold improvements		8,833		6,467	Life of lease ⁽¹⁾
Rental equipment		—		57	5
Construction in progress		3,166		2,595	N/A
Total property and equipment		77,022		71,382
Less: Accumulated depreciation and amortization		(40,556)		(37,029)
Total property and equipment, net	$	36,466	$	34,353

₍₁₎	Leasehold improvements are amortized on a straight-line basis over the shorter of (i) their estimated useful lives and (ii) the estimated or contractual life of the related lease.

Depreciation and amortization expense on property and equipment for the quarter and six months ended June 30, 2013 was $2,251 and $4,432, respectively, compared to $2,162 and $4,134, respectively, for the quarter and six months ended June 30, 2012.

- 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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