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Property and Equipment | 9 Months Ended
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Sep. 30, 2020
Property, Plant and Equipment [Abstract] |
PROPERTY AND EQUIPMENT | Note 4. PROPERTY AND EQUIPMENT The components of property and equipment at September 30, 2020 and December 31, 2019 consisted of the following:
|  | September 30, |  |  | December 31, |  |  |
|  | 2020 |  |  | 2019 |  |  |
|  | (unaudited) |  |  |  |  |  |
Land |  | $ | 300,000 |  |  | $ | 300,000 |  |  |
Buildings and Improvements |  |  | 1,650,000 |  |  |  | 1,650,000 |  |  | 31.50 years
Machinery and Equipment |  |  | 14,861,000 |  |  |  | 12,251,000 |  |  | 5 - 8 years
Finance Lease Machinery and Equipment |  |  | 6,546,000 |  |  |  | 6,495,000 |  |  | 5 - 8 years
Tools and Instruments |  |  | 11,612,000 |  |  |  | 11,021,000 |  |  | 1.50 - 7 years
Automotive Equipment |  |  | 148,000 |  |  |  | 177,000 |  |  | 5 years
Furniture and Fixtures |  |  | 290,000 |  |  |  | 290,000 |  |  | 5 - 8 years
Leasehold Improvements |  |  | 530,000 |  |  |  | 530,000 |  |  | Term of Lease
Computers and Software |  |  | 436,000 |  |  |  | 425,000 |  |  | 4 - 6 years
Total Property and Equipment |  |  | 36,373,000 |  |  |  | 33,139,000 |  |  |
Less: Accumulated Depreciation |  |  | (27,466,000 | ) |  |  | (25,561,000 | ) |  |
Property and Equipment, net |  | $ | 8,907,000 |  |  | $ | 7,578,000 |  |  |
Depreciation expense for the three months ended September 30, 2020 and 2019 was $576,000 and $712,000, respectively. Depreciation expense for the nine months ended September 30, 2020 and 2019 was $1,920,000 and $2,085,000, 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 2020 and 2019. Accumulated depreciation on these assets was approximately $6,359,000 and $5,936,000 as of September 30, 2020 and December 31, 2019, respectively.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=120429125&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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