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v3.22.2.2

Property and Equipment | 9 Months Ended
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Sep. 30, 2022
Property, Plant and Equipment [Abstract] |
Property and Equipment | NOTE 6 — Property and Equipment 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 |  |  |
No impairment charges were recognized for the nine months ended September 30, 2022 and 2021.

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- Definition The entire disclosure for long-lived, physical asset used in normal conduct of business and not intended for resale. Includes, but is not limited to, work of art, historical treasure, and similar asset classified as collections. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 6 -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI https://asc.fasb.org/topic&trid=2155823 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 7 -URI https://asc.fasb.org/extlink&oid=126982197&loc=SL120174063-112916 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 958 -SubTopic 360 -Section 50 -Paragraph 1 -Subparagraph (d) -URI https://asc.fasb.org/extlink&oid=126982197&loc=d3e99779-112916 + Details
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