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, 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	September 30, 2022		December 31, 2021
Tooling and equipment	7 - 15	$	14,445	$	13,530
Furniture and other equipment	5		9,740		7,928
Computer software	5		2,152		1,998
Leasehold improvements	3 - 6		6,680		3,632
Equipment under capital lease	5		192		192
			33,209		27,280
Less accumulated depreciation			(21,246)		(19,930)
		$	11,963	$	7,350

Depreciation expense, which includes amortization of equipment under capital lease, amounted to $0.6 million and $0.5 million for the three months ended September 30, 2022 and 2021, respectively. Depreciation expense, which includes amortization of equipment under capital lease, amounted to $1.6 million and $1.5 million for the nine months ended September 30, 2022 and 2021, respectively.