NOTE G - PROPERTY AND EQUIPMENT, NET Property and equipment, net, consisted of the following (in thousands): | | | | | | | | | | | Useful Life | | | | | | | | | In Years | | December 31, 2025 | | December 31, 2024 | Tooling and equipment | | 5 – 15 | | $ | 18,967 | | $ | 17,481 | Furniture and other equipment | | 3 – 15 | | | 14,589 | | | 13,985 | Computer software | | 3 – 5 | | | 1,521 | | | 2,555 | Leasehold improvements | | 2 – 15 | | | 28,008 | | | 25,527 | Flight equipment held for R&D | | 2 – 8 | | | - | | | 8,383 | | | | | | 63,085 | | | 67,931 | Less accumulated depreciation | | | | | (31,079) | | | (31,600) | | | | | $ | 32,006 | | $ | 36,331 |
Depreciation expense was as follows (in thousands): | | | | | | | | | | | | Year Ended December 31, | | | 2025 | | 2024 | | 2023 | Depreciation expense | | $ | 5,178 | | $ | 5,501 | | $ | 3,736 |
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