Assets Manufactured for Internal Use, net

12 Months Ended

Dec. 31, 2024

Assets Manufactured for Internal Use, net

Assets Manufactured for Internal Use, net

Note 8. Assets Manufactured for Internal Use, net

Assets manufactured for internal use, included in other assets, are depreciated using the straight-line method over their 10 year estimated useful life. Their components are as follows:

	December 31,
	2024		2023
	(in thousands)
Internal use assets	$	90,252	$	76,273
Construction in process		964		236
Total cost		91,216		76,509
Accumulated depreciation		(46,045)		(39,588)
Assets manufactured for internal use, net	$	45,171	$	36,921

These products are used for research and development, training, and customer demonstration purposes.

Depreciation expense was $6.8 million, $5.6 million and $5.2 million for the years ended December 31, 2024, 2023 and 2022, respectively.