Rigel Pharmaceuticals, Inc. Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2012

PROPERTY AND EQUIPMENT

PROPERTY AND EQUIPMENT

7. PROPERTY AND EQUIPMENT

Property and equipment consists of the following (in thousands):

	Year Ended

	2012			2011
Laboratory and office equipment	$	26,022		$	23,071
Assets to be placed in service		40			31

Total property and equipment		26,062			23,102
Less accumulated depreciation and amortization		(20,236	)		(18,220	)

Property and equipment, net	$	5,826		$	4,882

During 2012, we disposed of approximately $422,000 of assets with related accumulated depreciation of approximately $417,000. During 2011, we disposed of fully depreciated assets of approximately $206,000.

At December 31, 2012 and 2011, we did not have equipment under capital lease. Total depreciation expense was $2.4 million, $2.0 million and $1.3 million for the years ended December 31, 2012, 2011 and 2010, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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