Property and Equipment, net

9 Months Ended

Sep. 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)	September 30, 2024			December 31, 2023
Surgical instruments	4	$	285,159		$	224,357
Machinery and equipment	7		12,619			11,633
Computer equipment	8		31,919			5,778
Office furniture and equipment	5		6,811			6,225
Leasehold improvements	various		4,374			3,986
Construction in progress	n/a		903			24,732
			341,785			276,711
Less: accumulated depreciation			(170,355	)		(126,876	)
Property and equipment, net		$	171,430		$	149,835

Total depreciation expense was $16.5 million and $46.0 million for the three and nine months ended September 30, 2024, respectively. Total depreciation expense was $10.7 million and $29.0 million for the three and nine months ended September 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.