Quarterly report pursuant to Section 13 or 15(d)

Property, Plant, Equipment and Rental Assets

v3.24.2.u1
Property, Plant, Equipment and Rental Assets
6 Months Ended
Sep. 30, 2023
Property, Plant, Equipment and Rental Assets  
Property, Plant, Equipment and Rental Assets

7. Property, Plant, Equipment and Rental Assets

Property, plant, equipment and rental assets consisted of the following (in thousands):

September 30,

March 31,

    

2023

2023

    

Machinery, equipment, automobiles and furniture

$

14,976

        

$

14,760

        

Leasehold improvements

 

8,868

 

8,868

Molds and tooling

3,516

3,516

Rental assets

30,701

26,868

 

58,061

 

54,012

Less: accumulated depreciation

 

(31,579)

 

(29,737)

Total property, plant, equipment and rental assets, net

$

26,482

$

24,275

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 $1.0 million and $0.9 million for the three months ended September 30, 2023 and 2022, respectively. Depreciation expense for property, plant, equipment and rental assets was $2.0 million and $1.6 million for the six months ended September 30, 2023 and 2022, respectively