Enom 2010 Annual Report Download - page 119
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Table of Contents
Demand Media, Inc. and Subsidiaries
Notes to Consolidated Financial Statements (Continued)
(In thousands, except per share amounts)
2. Summary of Significant Accounting Policies (Continued)
arrangement consideration to deliverables in an arrangement that includes both tangible products and software. ASU 2009-14 is effective prospectively for
revenue arrangements entered into or materially modified in fiscal years beginning on or after June 15, 2010. Alternatively, the Company may retrospectively
apply the guidance to all periods. The Company adopted ASU 2009-14 using the prospective method on January 1, 2011 and the adoption did not have a
material effect on the Company's financial position or results of operations.
3. Property and Equipment
Property and equipment consisted of the following:
December 31,
2009 2010
Computers and other related equipment $ 23,479 $ 29,632
Purchased and internally developed software 28,233 36,501
Furniture and fixtures 1,959 2,280
Leasehold improvements 2,070 2,740
55,741 71,153
Less accumulated depreciation (25,099) (36,178)
Property and equipment, net $ 30,642 $ 34,975
At December 31, 2009 and 2010, total software under capital lease and vendor financing obligations consisted of $1,633, with accumulated amortization
of $499 and $1,044, respectively. Amortization expense for assets under capital lease and vendor financing obligations for the years ended December 31,
2009 and 2010 was $499 and $545, respectively.
Depreciation and software amortization expense, which includes a loss on disposal of property and equipment of approximately $777, $305, and $663 for
the years ended December 31, 2008, 2009 and 2010, respectively, by classification is shown below:
Year ended December 31,
2008 2009 2010
Service costs $ 8,158 $ 11,882 $ 14,783
Sales and marketing 94 184 187
Product development 1,094 1,434 1,346
General and administrative 1,160 1,463 1,950
Total depreciation $ 10,506 $ 14,963 $ 18,266
F-23