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Property and Equipment (Tables)

9 Months Ended

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

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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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- References

No definition available.

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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

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