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v3.24.3

Property and Equipment, net | 9 Months Ended
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Sep. 30, 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) |  | September 30, 2024 |  |  | December 31, 2023 |
Surgical instruments |  | 4 |  | $ | 285,159 |  |  | $ | 224,357 |
Machinery and equipment |  | 7 |  |  | 12,619 |  |  |  | 11,633 |
Computer equipment |  | 8 |  |  | 31,919 |  |  |  | 5,778 |
Office furniture and equipment |  | 5 |  |  | 6,811 |  |  |  | 6,225 |
Leasehold improvements |  | various |  |  | 4,374 |  |  |  | 3,986 |
Construction in progress |  | n/a |  |  | 903 |  |  |  | 24,732 |
|  |  |  |  | 341,785 |  |  |  | 276,711 |
Less: accumulated depreciation |  |  |  |  | (170,355 | ) |  |  | (126,876 | )
Property and equipment, net |  |  |  | $ | 171,430 |  |  | $ | 149,835 |
Total depreciation expense was $16.5 million and $46.0 million for the three and nine months ended September 30, 2024, respectively. Total depreciation expense was $10.7 million and $29.0 million for the three and nine months ended September 30, 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.

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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://fasb.org/us-gaap/role/ref/legacyRef -Topic 360 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/360/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 6 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-6 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (d) -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Section 50 -Paragraph 7 -SubTopic 360 -Topic 958 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477798/958-360-50-7 + Details
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