Property and Equipment, net |
12 Months Ended | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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Apr. 30, 2024 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment, net | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Property and Equipment, net | 7. Property and Equipment, net Property and equipment, net consist of the following:
Depreciation expense for the years ended April 30, 2024, 2023 and 2022 was $17,098,000, $41,803,000 and $30,493,000, respectively. During the fiscal year ended April 30, 2023, the Company recorded accelerated the depreciation of $16,597,000 related to in-service ISR assets associated with the closure of all of the Company’s MUAS COCO sites. The Company reclassified certain in-service ISR assets determined to have an alternate business use to machinery and equipment. At April 30, 2024 and 2023, the reclassified assets had a carrying value of $1,979,000 and $4,586,000, respectively. During the fiscal years ended April 30, 2024, 2023 and 2022, the Company recorded losses on the disposal of in-service ISR assets which included the write-off of $0, $192,000 and $1,378,000 of non-cash purchase accounting fair value adjustments, respectively. |
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