Audiovox 2005 Annual Report Download - page 70

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A summary of property, plant and equipment, net, is as follows:
NOVEMBER 30,
−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−−
2004 2005
−−−−−−−−−−−−−−−−− −−−−−−−−−−−−−−−−−−
Land $ 648 $ 648
Buildings 5,752 6,190
Property under capital lease 7,142 7,142
Furniture, fixtures and displays 2,019 2,387
Machinery and equipment 3,912 5,430
Construction−in−progress 185 −
Computer hardware and software 12,034 12,881
Automobiles 763 825
Leasehold improvements 4,298 4,918
−−−−−−−−− −−−−−−−
36,753 40,421
Less accumulated depreciation and amortization 7,046 20,704
−−−−−−−−− −−−−−−−
$ 19,707 $ 19,717
========= ========
Depreciation is calculated on the straight−line method over the
estimated useful lives of the assets as follows:
Buildings 20−30 years
Furniture, fixtures and displays 5−10 years
Machinery and equipment 5−10 years
Computer hardware and software 3−5 years
Automobiles 3 years
Leasehold improvements are amortized over the shorter of the
lease term or estimated useful life of the asset. Assets
acquired under capital lease are amortized over the term of the
lease. Capitalized computer software costs obtained for internal
use are amortized on a straight−line basis.
Depreciation and amortization of property, plant and equipment
amounted to $3,432, $2,638 and $3,399 for the years ended
November 30, 2003, 2004 and 2005, respectively. Included in
depreciation and amortization expense is amortization of
computer software costs of $500, $149 and $179 for the years
ended November 30, 2003, 2004 and 2005, respectively. Included
in depreciation expense is $240 of depreciation related to
property under capital lease for each of the three years in the
period ended November 30, 2005.
Accumulated depreciation and amortization includes $1,598 and
$1,838 related to property under capital lease at November 30,
2004 and 2005, respectively. Computer software includes
approximately $573 and $433 of unamortized costs as of November
30, 2004 and 2005, respectively, related to the acquisition and
installation of management information systems for internal use.
F−16