PROPERTY AND EQUIPMENT, NET

12 Months Ended

Dec. 31, 2019

Property, Plant and Equipment [Abstract]

Property and equipment consists of the following (in thousands):



	December 31,
	2019			2018
Furniture and office equipment	$	2,557		$	2,237
Machinery and equipment	2,731			11,391
Laboratory equipment	221			351
Leasehold improvements	9,858			9,858
	15,367			23,837
Less: Accumulated depreciation and amortization	(11,870		)	(10,773		)
Property and equipment, net	$	3,497		$	13,064

Depreciation expense was $1.2 million, $4.7 million and $2.0 million for the years ended December 31, 2019, 2018 and 2017, respectively. Depreciation for the year ended December 31, 2018 includes $2.7 million of accelerated depreciation related to leasehold improvements in our former Newark, California headquarters upon the exit of that facility in 2018.

During the third quarter of 2019, the Company committed to a plan to dispose by abandonment certain owned machinery, with a carrying value of $9.6 million, residing at a manufacturing supplier as it would no longer be used in future production. The Company recognized a loss on disposition of equipment of $10.1 million, inclusive of $0.5 million for disposal costs, in Selling, general and administrative expenses in the Company’s consolidated statements of comprehensive income for the year ended December 31, 2019.

Assertio Therapeutics, Inc 10-K