Property, Plant and Equipment and Inventory
 9 Months Ended
Sep. 30, 2016
Property, Plant and Equipment [Abstract]  
Property, Plant and Equipment and Inventory
Property, Plant and Equipment and Inventory
Property, plant and equipment
Property, plant and equipment is comprised of the following at September 30, 2016 and December 31, 2015 (in thousands):

 
September 30, 2016
 
December 31, 2015
Machinery and equipment
$
152,757

 
$
126,850

Office furniture, computers and software
12,813

 
8,771

Leasehold improvements
13,232

 
7,582

Buildings and land
43,008

 
31,856

 
221,810

 
175,059

Less: accumulated depreciation
(76,363
)
 
(59,111
)
Total
$
145,447

 
$
115,948


Depreciation expense was $7.3 million and $19.5 million for the three and nine months ended September 30, 2016, and $5.2 million and $15.8 million for the three and nine months ended September 30, 2015.
Inventory
Inventory is comprised of the following at September 30, 2016 and December 31, 2015 (in thousands):

 
September 30, 2016
 
December 31, 2015
Raw materials and supplies
$
26,022

 
$
23,604

Work-in-process
8,966

 
8,763

Finished goods (1)
204,910

 
31,196

Less: obsolescence reserve
(7,911
)
 
(3,658
)
Total
$
231,987

 
$
59,905



(1) Finished goods balance at September 30, 2016 includes $37.6 million inventory step-up related to the preliminary purchase price allocation for 5.11 Tactical.