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Property and Equipment

12 Months Ended

Dec. 31, 2017

Property, Plant and Equipment [Abstract]

Property and Equipment

 Property and Equipment

Property and equipment consists of the following at December 31, 2017 and 2016 (in thousands):

	Useful Lives (Years)		2017				2016
Land	—		$	1,290			$	169
Building	39		6,116				6,856
Leasehold improvements	39		808				794
Office equipment and furniture	5		1,490				1,454
Software	5		573				573
Machinery and equipment	7		3,133				3,111
Vehicles	3		5,516				6,063
Total			18,926				19,020
Less accumulated depreciation			(11,274		)		(11,267		)
Total			$	7,652			$	7,753

Depreciation expense for property and equipment was $1.2 million, $1.4 million and $1.6 million for the year ended December 31, 2017, 2016 and 2015, respectively.

In 2017, the Midland fabrication facility suffered two separate damages, due to hailstorms. We did not incur a loss, as our insurance proceed fully cover the estimated cost for the repair. In accordance with ASC 605-40, we reduced the value of the building for these damages.

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- References

No definition available.

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- 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 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.13-14)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 205
-SubTopic 20
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760

Reference 3: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2921-110230

Reference 4: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 1
-URI http://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229

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