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, 2023

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, 2023		December 31, 2022
Tooling and equipment	7 - 15	$	14,943	$	14,649
Furniture and other equipment	5		10,771		10,090
Computer software	5		2,153		2,152
Leasehold improvements	3 - 6		8,171		7,390
Equipment under capital lease	5		192		192
			36,230		34,473
Less accumulated depreciation			(22,749)		(21,835)
		$	13,481	$	12,638

Depreciation expense, which includes amortization of equipment under capital lease, amounted to $0.9 million and $0.5 million for the three months ended March 31, 2023 and 2022, respectively.