Quarterly report pursuant to Section 13 or 15(d)

Property, Plant and Equipment and Rental Assets

Property, Plant and Equipment and Rental Assets

9 Months Ended

Dec. 31, 2019

Property, Plant and Equipment and Rental Assets

Property, Plant, Equipment and Rental Assets

6. Property, Plant, Equipment and Rental Assets

Property, plant, equipment and rental assets consisted of the following as of December 31, 2019 and March 31, 2019 (in thousands):


	December 31,		March 31,
	2019		2019
Machinery, equipment, automobiles and furniture	$	15,728	$	15,344
Leasehold improvements		11,114		11,074
Molds and tooling		3,099		2,893
Rental assets		5,502		2,818
		35,443		32,129
Less, accumulated depreciation		(27,699)		(26,838)
Total property, plant, equipment and rental assets, net	$	7,744	$	5,291

During the third quarter of Fiscal 2020, the Company deployed approximately $0.7 million of its C1000 Signature Series systems (0.8 megawatts “MW”) under its long-term rental program, bringing the total rental fleet to 7.0 MWs. During the nine months ended December 31, 2019, the Company deployed approximately $2.7 million of its C1000 Signature Series systems under its long-term rental program.

The Company regularly reassesses the useful lives of property and equipment and retires assets no longer in service. Depreciation expense for property, equipment and rental assets was $0.3 million each for the three months ended December 31, 2019 and 2018. Depreciation expense for property, equipment and rental assets was $1.0 million and $0.8 million for the nine months ended December 31, 2019 and 2018, respectively.