To simplify tamhas’s explanation:
Companies have two budgets - capital and operating
A major, long term procurement is planned and made from the capital budget. This asset is depreciated on the books according to a set schedule (and zeroed out against the sales revenue if sold before it becomes worthless on the books). Whie this theoretically sets its value at each accounting anniversary, its market value may differ. Thi item appears on the balance sheet, as does the depreciation.
While the asset is owned, it is maintained from the operating budget. This may be a series of one-time expenses overlaid on a periodic contract, etc., but regardless will be a profit/loss statement item.
Cash flow will be impacted by maintenance, but not by depreciation (other than potential tax benefits, or revenues gained when the asset is sold - regardless of whether the sales price is higher/lower than it is carried on the books).
Hope this helps,
Jeff