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Property and Equipment, net
 3 Months Ended
Mar. 31, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, net

5. Property and Equipment, net

Property and equipment, net consist of the following (in thousands, except as indicated):

 

 

 

Useful lives
(in years)

 

March 31,
2024

 

 

December 31,
2023

 

Surgical instruments

 

4

 

$

255,640

 

 

$

224,357

 

Machinery and equipment

 

7

 

 

11,942

 

 

 

11,633

 

Computer equipment

 

8

 

 

28,428

 

 

 

5,778

 

Office furniture and equipment

 

5

 

 

6,177

 

 

 

6,225

 

Leasehold improvements

 

various

 

 

4,016

 

 

 

3,986

 

Construction in progress

 

n/a

 

 

4,769

 

 

 

24,732

 

 

 

 

 

 

310,972

 

 

 

276,711

 

Less: accumulated depreciation
   and amortization

 

 

 

 

(139,844

)

 

 

(126,876

)

Property and equipment, net

 

 

 

$

171,128

 

 

$

149,835

 

 

Total depreciation expense was $13.7 million and $8.6 million for the three months ended March 31, 2024 and 2023, respectively. Construction in progress is not depreciated until placed in service. Property and equipment includes assets under financing leases and the related amortization of assets under financing leases is included in depreciation expense.