AerSale Corporation Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

3 Months Ended

Mar. 31, 2024

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

NOTE F — PROPERTY AND EQUIPMENT, NET

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


	Useful Life
	In Years	March 31, 2024		December 31, 2023
Tooling and equipment	7 - 15	$	16,221	$	16,024
Furniture and other equipment	5		11,942		12,076
Computer software	5		2,538		2,374
Leasehold improvements	3 - 10		18,819		16,269
Equipment under capital lease	5		192		192
Flight equipment held for R&D	2		7,994		7,784
			57,706		54,719
Less accumulated depreciation			(27,319)		(27,027)
		$	30,387	$	27,692

Depreciation expense, which includes amortization of equipment under capital lease, amounted to $1.1 million and $0.9 million for the three months ended March 31, 2024 and 2023, respectively.