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v3.22.2.2

Property and Equipment (Tables) | 9 Months Ended
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Sep. 30, 2022
Property, Plant and Equipment [Abstract] |
Summary of property and equipment, net | Property and equipment, net consists of the following:
(in thousands) |  | Useful Life (Years) |  | September 30, 2022 |  | December 31, 2021
Software |  | 3 |  | $ | 7,430 |  |  | $ | 7,132 |
Equipment and fixtures |  | 3 | — | 7 |  | 85,232 |  |  | 57,952 |
Leasehold improvements |  | 5 | — | 15 |  | 26,996 |  |  | 20,744 |
Buildings |  | 10 | — | 20 |  | 134,640 |  |  | 168,395 |
Land |  | N/A |  | 4,211 |  |  | 5,242 |
Aircraft 1 |  | N/A |  | 9,195 |  |  | 9,531 |
Construction-in-progress 2 |  | N/A |  | 124,185 |  |  | 88,050 |
Property and equipment, gross |  |  |  |  |  | 391,889 |  |  | 357,046 |
Less: accumulated depreciation |  |  |  |  |  | (64,289) |  |  | (55,048) |
Property and equipment, net |  |  |  |  |  | $ | 327,600 |  |  | $ | 301,998 |
_______________ 1 Aircraft is depreciated under the consumption method. 2 Construction-in-progress primarily consists of construction and equipment costs for new and existing shops. Depreciation expense included in the Company’s condensed consolidated statements of operations was as follows:
|  | Three Months Ended September 30, |  | Nine Months Ended September 30, |  |
(in thousands) |  | 2022 |  | 2021 |  | 2022 |  | 2021 |  |
Cost of sales |  | $ | 6,932 |  |  | $ | 5,048 |  |  | $ | 18,486 |  |  | $ | 13,186 |  |  |
Selling, general and administrative expenses |  | 702 |  |  | 700 |  |  | 2,114 |  |  | 1,962 |  |  |
Total depreciation expense |  | $ | 7,634 |  |  | $ | 5,748 |  |  | $ | 20,600 |  |  | $ | 15,148 |  |  |

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- Definition Tabular disclosure of physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, balances by class of assets, depreciation and depletion expense and method used, including composite depreciation, and accumulated deprecation. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 1 -URI https://asc.fasb.org/extlink&oid=6391035&loc=d3e2868-110229 + Details
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