Common use of Property and Equipment Clause in Contracts

Property and Equipment. Property and equipment consisted of the following at December 31, 2014 and 2013 (in thousands): December 31, 2014 December 31, 2013 Accumulated Net Book Accumulated Net Book Cost Depreciation Value Cost Depreciation Value Computer equipment $ 1,108 $ (602 ) $ 506 $ 490 $ (244 ) $ 246 Furniture and fixtures 22 (4 ) 18 21 (1 ) 20 Software 2,733 (1,137 ) 1,596 2,962 (246 ) 2,716 Building and Leasehold improvements 541 (36 ) 505 59 (4 ) 55 Land and Buildings 797 (19 ) 778 797 (3 ) 794 Total $ 5,201 $ (1,798 ) $ 3,403 $ 4,329 $ (498 ) $ 3,831 Depreciation expense on property and equipment for the years ended December 31, 2014 and 2013, including cost of property and equipment under capital lease, was $1.4 million and $0.5 million, respectively, and is recorded in operating expenses. Equipment under capital lease totaled $0.16 million as of December 31, 2014. There was no equipment under capital lease at December 31, 2013. Depreciation expense on equipment under capital lease was $0.04 million for the year ended December 31, 2014, and accumulated depreciation on equipment under capital lease was $0.04 million as of December 31, 2014.

Appears in 5 contracts

Samples: LookSmart Group, Inc., LookSmart Group, Inc., LookSmart Group, Inc.

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