Quarterly report pursuant to Section 13 or 15(d)

Property, Plant, Equipment and Rental Assets

v3.10.0.1
Property, Plant, Equipment and Rental Assets
 9 Months Ended
Dec. 31, 2018
Property, Plant, Equipment and Rental Assets  
Property, Plant, Equipment and Rental Assets

6.  Property, Plant, Equipment and Rental Assets

 

Property, plant, equipment and rental assets consisted of the following as of December 31, 2018 and March 31, 2018 (in thousands):

 

 

 

 

 

 

 

 

 

 

December 31,

 

March 31,

 

 

    

2018

    

2018

 

Machinery, equipment, automobiles and furniture

 

$

15,274

 

$

15,302

 

Leasehold improvements

 

 

11,074

 

 

10,949

 

Molds and tooling

 

 

2,834

 

 

2,904

 

Rental assets

 

 

2,590

 

 

179

 

 

 

 

31,772

 

 

29,334

 

Less, accumulated depreciation

 

 

(26,622)

 

 

(26,475)

 

Total property, plant, equipment and rental assets, net

 

$

5,150

 

$

2,859

 

 

During the three months ended December 31, 2018, the Company deployed approximately $2.6 million of its C1000 Signature Series systems under its factory rental program.

The Company regularly reassesses the useful lives of property and equipment and retires assets no longer in service. Depreciation expense for property, equipment and rental assets was $0.3 million and $0.8 million for the three and nine months ended December 31, 2018, respectively. Depreciation expense for property and equipment was $0.2 million and $0.6 million for the three and nine months ended December 31, 2017, respectively.