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84 Glossary Condition scoreâThe score assigned to a vehicle compo- nent as part of the condition assessment process. DepreciationâAn equipment unitâs loss in capital value measured as the original purchase price less the salvage value. DowntimeâThe hours that an equipment unit is out of service during normal working hours. Equipment ageâThe age of an equipment unit, measured in years from the current date to the in-service year. Equipment classâA grouping of equipment units of similar size and functionality, normally accompanied by a unique class code. Equipment utilizationâThe hours or miles that an equipment unit is operated, typically measured by annual utilization or life-to-date utilization. Inflation rateâThe annual inflation rate used to normalize equipment costs to constant dollars and to project future equipment replacement costs. Life Cycle Cost Analysis (LCCA)âAn economic model for analyzing equipment costs. Class-level LCCAâUsed for determining optimal life cycles; applied to all equipment units with a specific class. Unit-level LCCAâUsed for analyzing individual equip- ment units. Maintenance and repair cost (M&R)âThe cost for main- taining, servicing, and repairing equipment units includes all types of repairs. Mission criticalityâA rating assigned to equipment units to recognize the relative importance of individual units and used to help rank replacement priorities. Obsolescence costâThe cost associated with the reduced performance and efficiency of equipment over time. Operating costâThe cost of maintenance, repairs, and fuel of an equipment unit and expressed in cost per mile/hour for LCCA. Optimization toolâThe Excel-based tool for performing LCCA and providing analysis to support the replacement process. Ownership costâThe capital investment cost of equipment; expressed in cost per mile/hour for LCCA. Overhead rateâA percentage factor applied to mechanic labor to account for mechanic and shop overhead costs. Direct overheadâOverhead associated directly with mechanic labor. Indirect overheadâOverhead associated with shop opera- tions for maintenance and repairs. Replacement costâThe current cost to replace an equipment unit with a like unit. Replacement planning valuesâTarget values for age and uti- lization, used to identify potential replacement candidates. Salvage valueâThe resale value of a unit that can be expressed as a percent of the original purchase price. Shop work orderâA paper or computerized form for cap- turing labor hours, costs, and other pertinent information for a single equipment repair event. UnitâAn individual piece of equipment.