Annual report pursuant to Section 13 and 15(d)

Property and Equipment

v2.4.1.9
Property and Equipment
12 Months Ended
Dec. 31, 2014
Property and Equipment  
Property and Equipment

 

4. Property and Equipment

        Property and equipment consists of the following:

                                                                                                                                                                                    

 

 

 

 

December 31,

 

 

 

Estimated Useful Life

 

2014

 

2013

 

Cost:

 

 

 

 

 

 

 

 

 

Office furniture and fixtures

 

5 - 7 years

 

$

4,993

 

$

4,266

 

Computer equipment and software

 

3 years

 

 

18,540

 

 

26,910

 

Other office equipment

 

5 years

 

 

144

 

 

598

 

Leasehold improvements

 

Shorter of the lease term or useful life of the asset

 

 

10,805

 

 

8,299

 

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34,482

 

 

40,073

 

Less accumulated depreciation and amortization

 

 

 

 

(17,853

)

 

(27,307

)

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Property and equipment, net

 

 

 

$

16,629

 

$

12,766

 

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        During the fourth quarter of 2014, the Company retired fully depreciated property and equipment that were no longer in service in the amount of $18,207. See below for the cost amounts and related accumulated depreciation written off by category:

                                                                                                                                                                                    

 

 

Cost

 

Accumulated
Depreciation

 

Office furniture and fixtures

 

$

721

 

$

(721

)

Computer equipment and software

 

 

15,455

 

 

(15,455

)

Other office equipment

 

 

596

 

 

(596

)

Leasehold improvements

 

 

1,435

 

 

(1,435

)

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Total property and equipment retirements

 

$

18,207

 

$

(18,207

)

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        Depreciation and amortization expense was as follows:

                                                                                                                                                                                    

 

 

Year ended December 31,

 

 

 

2014

 

2013

 

2012

 

Depreciation and amortization expense

 

$

5,910 

 

$

5,151 

 

$

4,685 

 

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