Quarterly report pursuant to Section 13 or 15(d)

Property, Plant, Equipment and Rental Assets

Property, Plant, Equipment and Rental Assets

3 Months Ended

Jun. 30, 2021

Property, Plant, 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 (in thousands):


	June 30,		March 31,
	2021		2021
Machinery, equipment, automobiles and furniture	$	15,669	$	15,523
Leasehold improvements		8,147		8,069
Molds and tooling		3,192		3,192
Rental assets		9,545		8,378
		36,553		35,162
Less: accumulated depreciation		(25,884)		(25,532)
Total property, plant, equipment and rental assets, net	$	10,669	$	9,630

During the first quarter of Fiscal 2022, the Company deployed an additional 1.5 megawatts of its C1000 Signature Series systems with a book value of approximately $1.2 million under its long-term rental program, bringing the total rental fleet to 12.1 MWs.

The Company regularly assesses the useful lives of property and equipment and retires assets no longer in service. Depreciation expense for property, plant, equipment and rental assets was $0.4 million and $0.3 million for the three months ended June 30, 2021 and 2020, respectively.