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Property & Equipment

12 Months Ended

Jun. 30, 2012

Property, Plant and Equipment [Abstract]

Property & Equipment

(5) Property & Equipment

As of June 30, 2012 and 2011, property and equipment consisted of the following (in thousands):

	June 30,
	2012			2011
Flight Assets	$	44,757		$	44,757
Payload Processing Facilities		44,766			44,717
Furniture, Fixtures, Equipment & Leasehold Improvements		18,335			17,862
Capital Improvements in Progress		930			199
Gross Property and Equipment		108,788			107,535
Accumulated Depreciation		(71,518)			(69,117)
Property and Equipment, net	$	37,270		$	38,418

Depreciation and amortization expense of property and equipment for the years ended June 30, 2012 and 2011 was $2.2 million and $2.3 million, respectively. In the year ended June 30, 2012, the Company evaluated the future use of two historical SPACEHAB modules. Due to the retirement of the space shuttle program in the United States and the lack of alternative uses which could potentially generate cash flow, the Company recorded a non-cash impairment of $0.2 million for the two SPACEHAB modules as the full aggregate carrying amount was deemed no longer recoverable.

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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