Property and Equipment

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

Property and equipment, net, as of September 30, 2023 and December 31, 2022 consist of the following:


	September 30, 2023		December 31, 2022
Land	$	2,833	$	2,833
Building and improvements	18,839		18,869
Leasehold improvements	439		513
Machinery and equipment	5,927		5,948
Revenue-generating assets	75,440		72,527
Office and computer equipment	13,613		14,652
Motor vehicles	31		31
	117,122		115,373
Less accumulated depreciation	(67,715)		(62,255)
	$	49,407	$	53,118

Depreciation expense was $3,180 and $3,283 for the three months ended September 30, 2023 and 2022, respectively and $9,952 and $9,591 for the nine months ended September 30, 2023 and 2022, respectively.

Certain revenue-generating hardware assets are utilized by the Company in the delivery of the Company's airtime services, media and other content.

As part of the Company's impairment testing, an internally developed software asset was deemed the primary asset of the asset group known as KVH Media Group. The $383 net asset value was determined to be fully impaired as a result of the review. The movement associated with the impairment is reflected as a component of the office and computer equipment. Please see Note 12 for additional details surrounding the impairment.