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, 2024

PROPERTY AND EQUIPMENT, NET

PROPERTY AND EQUIPMENT, NET

NOTE F — 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, 2024		December 31, 2023
Tooling and equipment	7 - 15	$	17,193	$	16,024
Furniture and other equipment	5		12,718		12,076
Computer software	5		2,581		2,374
Leasehold improvements	3 - 10		21,613		16,269
Equipment under capital lease	5		192		192
Flight equipment held for R&D	2		8,383		7,784
			62,680		54,719
Less accumulated depreciation			(29,970)		(27,027)
		$	32,710	$	27,692

Depreciation expense, which includes amortization of equipment under capital lease, amounted to $1.6 million and $0.9 million for the three months ended September 30, 2024 and 2023, respectively. Depreciation expense, which includes amortization of equipment under capital lease, amounted to $3.8 million and $2.7 million for the nine months ended September 30, 2024 and 2023, respectively.