7. Property and Equipment
|3 Months Ended|
Apr. 01, 2017
|Property, Plant and Equipment [Abstract]|
|Property and Equipment||
Property and equipment as of April 1, 2017, and December 31, 2016, consist of the following:
Depreciation and amortization expense was $302 and $325 for the 13 weeks ended April 1, 2017 and April 2, 2016, respectively.
On January 25, 2017, the Company sold its’ Compton California facility for $7,103 to Terreno Acacia, LLC. The proceeds from the sale paid off the PNC term loan that was secured by the property, in the amount of $1,020, costs of sale of $325 and the difference of $5,758 was paid towards the PNC Revolver loan. The Company recorded a gain on the sale of property of $5,163. The Company rented the Compton California facility after the sale from January 26, 2017 through April 10, 2017.
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