Property and Equipment, net

9 Months Ended

Sep. 30, 2023

Property, Plant and Equipment [Abstract]

5. Property and Equipment, net

Property and equipment, net consist of the following (in thousands, except as indicated):


	Useful lives (in years)	September 30, 2023			December 31, 2022
Surgical instruments	4	$	206,748		$	158,906
Machinery and equipment	7		11,421			9,502
Computer equipment	3		5,388			4,753
Office furniture and equipment	5		5,547			4,760
Leasehold improvements	various		3,797			2,965
Construction in progress	n/a		20,280			15,360
			253,181			196,246
Less: accumulated depreciation and amortization			(119,396	)		(94,294	)
Property and equipment, net		$	133,785		$	101,952

Total depreciation expense was $10.7 million and $29.0 million for the three and nine months ended September 30, 2023, respectively. Total depreciation expense was $8.0 million and $22.6 million for the three and nine months ended September 30, 2022, respectively. Construction in progress includes costs associated with internal-use software. 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.