NOTE 5 – PROPERTY, PLANT AND EQUIPMENT, NET

The following table shows the component of property, plant and equipment, net (in thousands):


	Estimated Useful Lives (in Years)	June 30, 2025			December 31, 2024
Rental tools and equipment	5-10	$	213,878		$	205,939
Buildings and improvements	5-40		7,383			7,074
Office furniture, fixtures and equipment	3-5		3,020			2,507
Transportation and equipment	3-5		708			714
Total property, plant and equipment			224,988			216,234
Less: accumulated deprecation			(148,780	)		(142,203	)
Property, plant and equipment, net (excluding construction in progress)			76,208			74,031
Construction in progress			3,102			1,540
Property, plant and equipment, net		$	79,310		$	75,571

Total depreciation expense for the three months ended June 30, 2025 and 2024 was approximately $6.2 million and $5.6 million, respectively. Total depreciation expense for the six months ended June 30, 2025 and 2024 was approximately $12.3 million and $10.9 million, respectively. The Company has not acquired any property, plant and equipment under capital leases.

Drilling Tools International Corp 10-Q