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Rental Equipment, Property and Equipment | 12 Months Ended
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Dec. 31, 2021
Property, Plant and Equipment [Abstract] |
Rental Equipment, Property and Equipment | Rental Equipment, Property and Equipment Rental Equipment Our rental equipment and associated accumulated depreciation as of December 31, 2021 and 2020, respectively, consisted of the following:
| December 31,
| 2021 |  | 2020
| (in thousands)
Compressor units | $ | 374,336 |  |  | $ | 379,623 |
Work-in-progress | 5,212 |  |  | 3,764 |
Rental equipment | 379,548 |  |  | 383,387 |
Accumulated depreciation | (172,563) |  |  | (175,802) |
Rental equipment, net of accumulated depreciation | $ | 206,985 |  |  | $ | 207,585 |
Our rental equipment has an estimated useful life between 15 and 25 years. Depreciation expense for rental equipment was $22.9 million and $22.7 million for the year ended December 31, 2021 and 2020, respectively. During the year ended December 31, 2021 we added 65 units to our rental fleet, 35 of which were repurchased from a significant customer who had previously purchased these units from us under a bill and hold arrangement in prior years, but had not yet placed the units in service. Retirement of Rental Equipment Company management routinely reviews its inventory of rental equipment for retirement or obsolescence. During 2021, management reviewed the rental fleet to determine which units were not of the type, configuration, make or model that our customers are demanding or that were not cost efficient to refurbish, maintain and/or operate. As a result of this review, we determined 263 units should be retired from our rental fleet. Accordingly, we recorded a $3.1 million loss on retirement of rental equipment during the year ended December 31, 2021. During our review of our rental compressor units in 2020, we determined 216 units should be retired from our rental fleet. We recorded a $0.3 million loss on retirement of rental equipment. Property and Equipment Property and equipment consists of the following at December 31, 2021 and 2020:
|  |  | December 31,
| Useful Lives (Years) |  | 2021 |  | 2020
|  |  | ($ in thousands)
Land | — |  | $ | 1,680 |  |  | $ | 1,680 |
Building | 39 |  | 18,977 |  |  | 18,977 |
Leasehold improvements | 39 |  | 1,197 |  |  | 1,168 |
Office equipment and furniture | 5 |  | 2,016 |  |  | 2,016 |
Software | 5 |  | 573 |  |  | 573 |
Machinery and equipment | 7 |  | 3,874 |  |  | 3,653 |
Vehicles | 3 |  | 8,295 |  |  | 7,598 |
Total |  |  | 36,612 |  |  | 35,665 |
Less accumulated depreciation |  |  | (15,784) |  |  | (13,916) |
Total |  |  | $ | 20,828 |  |  | $ | 21,749 |
Depreciation expense for property and equipment was $2.4 million and $2.3 million for the year ended December 31, 2021 and 2020, respectively. Depreciation Expense by Product Line The following table depicts annual depreciation expense associated with each product line as well as our corporate activities at December 31, 2021 and 2020:
| December 31,
| 2021 |  | 2020
| (in thousands)
Rentals | $ | 24,423 |  |  | $ | 24,255 |
Sales | 281 |  |  | 281 |
Service & Maintenance | 49 |  |  | 42 |
Corporate | 476 |  |  | 495 |
Total | $ | 25,229 |  |  | $ | 25,073 |

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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 http://asc.fasb.org/extlink&oid=120429125&loc=d3e99893-112916 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -URI http://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 http://asc.fasb.org/extlink&oid=120429125&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 http://asc.fasb.org/extlink&oid=120429125&loc=d3e99779-112916 + Details
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