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Property and Equipment | 6 Months Ended
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Jun. 30, 2019
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | Note 4. PROPERTY AND EQUIPMENT The components of property and equipment at June 30, 2019 and December 31, 2018 consisted of the following:
|  | June 30, |  |  | December 31, |  |  |
|  | 2019 |  |  | 2018 |  |  |
|  | (unaudited) |  |  |  |  |  |
Land |  | $ | 300,000 |  |  | $ | 300,000 |  |  |
Buildings and Improvements |  |  | 1,650,000 |  |  |  | 1,708,000 |  |  | 31.5 years
Machinery and Equipment |  |  | 12,201,000 |  |  |  | 11,579,000 |  |  | 5 - 8 years
Finance Lease Machinery and Equipment |  |  | 6,495,000 |  |  |  | 6,495,000 |  |  | 5 - 8 years
Tools and Instruments |  |  | 10,317,000 |  |  |  | 9,882,000 |  |  | 1.5 - 7 years
Automotive Equipment |  |  | 177,000 |  |  |  | 177,000 |  |  | 5 years
Furniture and Fixtures |  |  | 290,000 |  |  |  | 303,000 |  |  | 5 - 8 years
Leasehold Improvements |  |  | 530,000 |  |  |  | 520,000 |  |  | Term of Lease
Computers and Software |  |  | 425,000 |  |  |  | 425,000 |  |  | 4 - 6 years
Total Property and Equipment |  |  | 32,385,000 |  |  |  | 31,389,000 |  |  |
Less: Accumulated Depreciation |  |  | (23,985,000 | ) |  |  | (22,612,000 | ) |  |
Property and Equipment, net |  | $ | 8,400,000 |  |  | $ | 8,777,000 |  |  |
Depreciation expense for the three months ended June 30, 2019 and 2018 was $760,000 and $722,000, respectively. Depreciation expense for the six months ended June 30, 2019 and 2018 was $1,455,000 and $1,444,000, respectively. Assets held under financed lease obligations are depreciated over the shorter of their related lease terms or their estimated productive lives. Depreciation of assets under finance leases is included in depreciation expense for 2019 and 2018. Accumulated depreciation on these assets was approximately $5,396,000 and $4,827,000 as of June 30, 2019 and December 31, 2018, respectively.

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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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 + Details
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