Fortress Biotech, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Property and Equipment

Property and Equipment

6 Months Ended

Jun. 30, 2017

Property, Plant and Equipment [Abstract]

6. Property and Equipment

Fortress's property and equipment, exclusive of National's property and equipment, consisted of the following ($ in thousands):

	Estimated Useful		June 30,		December 31,
	Lives (in years)		2017		2016
Computer equipment		3	$	517	$	440
Furniture and fixtures		5		931		821
Leasehold improvements		Various		5,351		5,396
Total property and equipment				6,799		6,657
Less: accumulated depreciation				(801)		(445)
Property and equipment, net			$	5,998	$	6,212

Fortress's depreciation expense for the three months ended June 30, 2017 and 2016, was approximately $180,000 and $82,000, respectively, and was recorded in both research and development expense and general and administrative expense in the Condensed Consolidated Statements of Operations. Fortress's depreciation expense for the six months ended June 30, 2017 and 2016, was approximately $356,000 and $86,000, 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 March 31, 2017 consisted of the following ($ in thousands):

	March 31,		Estimated Useful
	2017		Lives (in years)
Equipment	$	861	5
Furniture and fixtures		82	5
Leasehold improvements		335	Lesser of useful life or term of lease
Capital leases (primarily composed of computer equipment)		276	5
Total property and equipment		1,554
Less: accumulated depreciation		(223)
Property and equipment, net	$	1,331