PROPERTY AND EQUIPMENT

12 Months Ended

Feb. 28, 2023

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

NOTE 7 – PROPERTY AND EQUIPMENT

Property and equipment consist of the following (in thousands):

	Useful	February 28,
	Life	2023			2022
Leasehold improvements	5 - 10 years	$	6,856		$	6,853
Recovery system components and law enforcement tracking units	7 to 10 years		884			940
Leased devices	2 to 5 years		31,057			33,632
Plant equipment and tooling	2 - 5 years		10,409			8,960
Office equipment, computers and furniture	3 - 5 years		9,192			8,555
Software	3 - 7 years		47,152			40,885
			105,550			99,825
Less accumulated depreciation and amortization			(75,402	)		(65,615	)
			30,148			34,210
Fixed assets not yet in service			2,684			3,464
		$	32,832		$	37,674

Depreciation expense from continuing operations was $16.4 million, $17.4 million and $17.2 million for the fiscal years ended February 28, 2023, 2022, and 2021, respectively.

A portion of the recovery system components and law enforcement tracking units above represent the software development for and equipment attached to our tower infrastructure. During fiscal year ended February 28, 2021, we recorded impairment losses aggregating $9.0 million, which represented the net book value of property and equipment substantially related to the LoJack U.S. SVR operations. Impairment losses of $8.9 million for the fiscal year ended February 28, 2021 are included within the net loss from discontinued operations shown separately in our consolidated statement of comprehensive loss.

Fixed assets not yet in service consist primarily of capitalized internal-use software and certain tooling and other equipment that have not been placed into service. During fiscal year ended February 28, 2023, we wrote-off $0.4 million of fixed assets not yet in service that is included in restructuring charges in the consolidated statements of comprehensive loss as further discussed in Note 11, Restructuring.