AerSale Corporation Annual report pursuant to Section 13 and 15(d)

Annual report pursuant to Section 13 and 15(d)

PROPERTY AND EQUIPMENT,NET

PROPERTY AND EQUIPMENT,NET

12 Months Ended

Dec. 31, 2020

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

NOTE G - PROPERTY AND EQUIPMENT, NET

Property and equipment, net, consist of the following:



	Useful Life
	In Years	2020		2019
Tooling and equipment	7 - 15	$	13,465,000	$	12,351,000
Furniture and other equipment	5		7,379,000		6,111,000
Computer software	5		2,378,000		2,291,000
Leasehold improvements	3 - 6		3,314,000		3,142,000
Equipment under capital lease	5		197,000		431,000
			26,733,000		24,326,000
Less accumulated depreciation			(18,894,000)		(16,864,000)
		$	7,839,000	$	7,462,000

Depreciation expense, which includes amortization of equipment under capital lease, was as follows:


	Year ended December 31,
	2020		2019		2018
Depreciation expense	$	2,139,000	$	2,223,000	$	2,121,000

Effective August 31, 2018, property and equipment of AerLine was deconsolidated (see Note R for further details). AerLine depreciation expense amounted to $41,000 for the year ended December 31, 2018, and is included in discontinued operations in the accompanying consolidated statements of operations.