General form of registration statement for all companies including face-amount certificate companies

Property & Equipment

v3.21.1
Property & Equipment
 12 Months Ended
Dec. 31, 2020
Property Plant And Equipment [Abstract]  
Property & Equipment
3.
Property & Equipment
Property and equipment consisted of the following (in thousands):
 
    
Successor
2020
            Predecessor
2019		  
Leasehold improvements
   
$
5,477
 
      
 
    $ 5,724  
Machinery & equipment
   
 
1,360
 
      
 
      2,821  
Computer equipment
   
 
208
 
      
 
      560  
Furniture & fixtures
   
 
792
 
      
 
      1,278  
Vehicles
   
 
215
 
      
 
      50  
    
 
 
             
 
 
  
    
 
8,052
 
              10,433  
Less: Accumulated depreciation and amortization
   
 
(48
) 
              (4,132 ) 
    
 
 
             
 
 
  
Property and equipment – net
   
$
8,004
 
            $ 6,301  
    
 
 
             
 
 
  
Depreciation expense for the Successor period from December 16, 2020 to December 31, 2020 was $48,000. Depreciation expense for the Predecessor period from January 1, 2020 to December 15, 2020 and for the twelve-month period ended December 31, 2019, was $1,025,000 and $795,000, respectively. In conjunction with the Business Combination, the basis of all property and equipment was recognized at fair value in purchase accounting.