Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

v3.8.0.1
Property and Equipment
3 Months Ended
Mar. 31, 2018
Property, Plant and Equipment [Abstract]  
Property and Equipment
6. Property and Equipment
 
Fortress's property and equipment, exclusive of National's property and equipment, consisted of the following ($ in thousands):
 
 
 
Estimated Useful
 
March 31,
 
December 31,
 
 
 
Lives (in years)
 
2018
 
2017
 
Computer equipment
 
3
 
$
594
 
$
543
 
Furniture and fixtures
 
5
 
 
1,015
 
 
1,009
 
Machinery and equipment
 
5
 
 
143
 
 
143
 
Leasehold improvements
 
5 - 15
 
 
5,383
 
 
5,351
 
Construction in process (1)
 
N/A
 
 
4,237
 
 
1,241
 
Total property and equipment
 
 
 
 
11,372
 
 
8,287
 
Less: accumulated depreciation
 
 
 
 
(1,367)
 
 
(1,171)
 
Property and equipment, net
 
 
 
$
10,005
 
$
7,116
 
 
(1)
Relates to the Mustang cell processing facility
  
Fortress's depreciation expense for the three months ended March 31, 2018 and 2017, was approximately $0.2 million and $0.2 million, respectively, and was recorded in both research and development expense and general and administrative expense in the Condensed Consolidated Statements of Operations.
 
National's property and equipment as of December 31, 2017 and September 30, 2017, consisted of the following ($in thousands):
 
 
 
Estimated Useful
 
December 31,
 
September 30,
 
 
 
Lives (in years)
 
2017
 
2017
 
Equipment
 
5
 
$
1,339
 
$
1,306
 
Furniture and fixtures
 
5
 
 
291
 
 
284
 
Leasehold improvements
 
Lesser of useful life or term
 
 
1,011
 
 
1,006
 
Capital Leases (primarily composed of computer equipment)
 
5
 
 
276
 
 
276
 
Fixed assets – gross
 
 
 
 
2,917
 
 
2,872
 
Accumulated depreciation and amortization
 
 
 
 
(644)
 
 
(475)
 
Fixed assets – net
 
 
 
$
2,273
 
$
2,397