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Property and Equipment, net
 6 Months Ended
Jun. 30, 2024
Property, Plant and Equipment [Abstract]  
Property and Equipment, net

5. Property and Equipment, net

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

 

 

 

Useful lives
(in years)

 

June 30,
2024

 

 

December 31,
2023

 

Surgical instruments

 

4

 

$

280,261

 

 

$

224,357

 

Machinery and equipment

 

7

 

 

12,115

 

 

 

11,633

 

Computer equipment

 

8

 

 

30,520

 

 

 

5,778

 

Office furniture and equipment

 

5

 

 

6,701

 

 

 

6,225

 

Leasehold improvements

 

various

 

 

4,322

 

 

 

3,986

 

Construction in progress

 

n/a

 

 

1,694

 

 

 

24,732

 

 

 

 

 

 

335,613

 

 

 

276,711

 

Less: accumulated depreciation
   and amortization

 

 

 

 

(154,999

)

 

 

(126,876

)

Property and equipment, net

 

 

 

$

180,614

 

 

$

149,835

 

 

Total depreciation expense was $15.7 million and $29.5 million for the three and six months ended June 30, 2024, respectively. Total depreciation expense was $9.8 million and $18.3 million for the three and six months ended June 30, 2023, respectively. 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.