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, 2022

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	March 31, 2022		December 31, 2021
Tooling and equipment	7 - 15	$	13,674	$	13,530
Furniture and other equipment	5		9,107		7,928
Computer software	5		2,160		1,998
Leasehold improvements	3 - 6		3,787		3,632
Equipment under capital lease	5		192		192
			28,920		27,280
Less accumulated depreciation			(20,426)		(19,930)
		$	8,494	$	7,350

Depreciation expense, which includes amortization of equipment under capital lease, amounted to $0.5 million and $0.5 million for the three months ended March 31, 2022 and 2021, respectively.