Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT, NET

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PROPERTY AND EQUIPMENT, NET
12 Months Ended
Dec. 31, 2023
PROPERTY AND EQUIPMENT, NET  
PROPERTY AND EQUIPMENT, NET

NOTE G - PROPERTY AND EQUIPMENT, NET

Property and equipment, net, consisted of the following (in thousands):

    

Useful Life

    

    

 In Years

December 31, 2023

December 31, 2022

Tooling and equipment

 

7 - 15

$

16,024

$

14,649

Furniture and other equipment

 

5

 

12,076

 

10,090

Computer software

 

5

 

2,374

 

2,152

Leasehold improvements

 

3 - 10

 

16,269

 

7,390

Equipment under capital lease

 

5

 

192

 

192

Flight equipment held for R&D

2

7,784

-

 

54,719

 

34,473

Less accumulated depreciation

 

(27,027)

 

(21,835)

$

27,692

$

12,638

Depreciation expense, which includes amortization of equipment under capital lease, was as follows (in thousands):

Year Ended December 31, 

2023

2022

2021

Depreciation expense

$

3,736

$

2,242

$

1,997