Property and Equipment

12 Months Ended

Dec. 31, 2023

Property, Plant and Equipment [Abstract]

Property and equipment, net, as of December 31, 2023 and 2022 consist of the following:


	December 31,
	2023		2022
Land	$	2,833	$	2,833
Building and improvements	18,839		18,869
Leasehold improvements	445		513
Revenue-generating assets	60,984		72,527
Machinery and equipment	5,989		5,948
Office and computer equipment	14,213		14,652
Motor vehicles	31		31
	103,334		115,373
Less accumulated depreciation	(55,654)		(62,255)
	$	47,680	$	53,118

Depreciation expense for the years ended December 31, 2023 and 2022 amounted to $13,204 and $12,909, respectively.

Certain revenue-generating hardware assets are utilized by the Company in the delivery of the Company's airtime services, media, and other content.

As of December 31, 2023 and 2022, the long-lived tangible assets related to the Company’s international subsidiaries were less than 10% of the Company’s long-lived tangible assets.

As part of the Company's impairment testing during the third quarter of 2023, an internally developed software asset was deemed the primary asset of the asset group known as KVH Media Group. The $383 net asset value was determined to be fully impaired as a result of the review. The movement associated with the impairment is reflected as a component of the office and computer equipment. Please see Note 8 for additional details surrounding the impairment.

In 2023, there was a $1,534 disposal of property and equipment related to the discontinuation of a project for implementing a new manufacturing-centric accounting system.