Quarterly report pursuant to Section 13 or 15(d)

PROPERTY AND EQUIPMENT, NET

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PROPERTY AND EQUIPMENT, NET
6 Months Ended
Jun. 30, 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

June 30, 2024

December 31, 2023

Tooling and equipment

 

7 - 15

$

16,720

$

16,024

Furniture and other equipment

 

5

 

12,475

 

12,076

Computer software

 

5

 

2,555

 

2,374

Leasehold improvements

 

3 - 10

 

21,081

 

16,269

Equipment under capital lease

 

5

 

-

 

192

Flight equipment held for R&D

2

8,368

7,784

 

61,199

 

54,719

Less accumulated depreciation

 

(28,516)

 

(27,027)

$

32,683

$

27,692

Depreciation expense, which includes amortization of equipment under capital lease, amounted to $1.2 million and $0.9 million for the three months ended June 30, 2024 and 2023, respectively. Depreciation expense, which includes amortization of equipment under capital lease, amounted to $2.3 million and $1.8 million for the six months ended June 30, 2024 and 2023, respectively.