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

9 Months Ended

Sep. 30, 2021

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

NOTE G — PROPERTY AND EQUIPMENT, NET

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


	Useful Life
	In Years	September 30, 2021		December 31, 2020
Tooling and equipment	7 - 15	$	13,400	$	13,465
Furniture and other equipment	5		7,785		7,379
Computer software	5		1,987		2,378
Leasehold improvements	3 - 6		3,467		3,314
Equipment under capital lease	5		192		197
			26,831		26,733
Less accumulated depreciation			(19,427)		(18,894)
		$	7,404	$	7,839

Depreciation expense, which includes amortization of equipment under capital lease, amounted to $0.5 million and $0.5 million for the three months ended September 30, 2021 and 2020, respectively. Depreciation expense, which includes amortization of equipment under capital lease, amounted to $1.5 million and $1.6 million for the nine months ended September 30, 2021 and 2020, respectively.