Property and Equipment
|12 Months Ended|
Dec. 31, 2017
|Property Plant And Equipment [Abstract]|
|Property and Equipment||
6. Property and Equipment
Fortress’ property and equipment, exclusive of National’s property and equipment consisted of the following:
(1) For build-out of Mustang’s cell processing facility in Worcester, MA. The total cost of the construction for the Worcester facility is expected to be $3.5 million. The cost of the equipment for the facility is expected to be $2.5 million
Depreciation expenses of Fortress’ property and equipment for the years ended December 31, 2017, 2016, and 2015 was $0.7 million, $0.4 million, and $26,000, respectively, and was recorded in both research and development expense and general and administrative expense in the Consolidated Statements of Operations.
National’s property and equipment as of September 30, 2017 consisted of the following:
Depreciation expense of National's property and equipment for the fiscal year ended September 30, 2017 and the period from September 10, 2016 through September 30, 2016 was $0.4 million and $36,000, respectively.
The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.
Reference 1: http://www.xbrl.org/2003/role/presentationRef