Property And Equipment

12 Months Ended

Dec. 31, 2013

Note 5 Property and Equipment

Property and equipment at December 31, 2013 and 2012 are summarized as follows:


(in thousands)	2013		2012		Useful Life (in years)
Land	$	541	$	541	N/A
Building		9,315		9,315	25
Machinery and equipment		56,962		45,869	3-7
Capitalized software — ERP		3,872		3,181	5
Office furniture and equipment		3,586		3,357	5
Leasehold improvements		9,395		6,467	Life of lease (a)
Rental equipment		—		57	5
Construction in progress		4,014		2,595	N/A
Total property and equipment		87,685		71,382
Less: Accumulated depreciation and amortization		(42,477)		(37,029)
Total property and equipment, net	$	45,208	$	34,353

^(a)

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 years ended 2013, 2012 and 2011 was $9,746, $8,441 and $6,267, respectively.

Capitalized leases related to buildings had a cost of $8,496 at December 31, 2013 and $8,496 at December 31, 2012. Capitalized leases related to office furniture and equipment had a cost of $47 at December 31, 2013 and $125 at December 31, 2012.

For the years ended December 31, 2013 and 2012, the Company recognized no software amortization expense for enterprise resource planning (“ERP”) system capitalization costs compared to $225 for the year ended December 31, 2011.

- 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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