Overstock.com 2002 Annual Report Download - page 43

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2001 2002
Domain names $146 $151
Deposits 459 213
605 364
Less: accumulated amortization (49) (80)
$556 $284
Amortization for other long-term assets totaled $22, $23 and $31 for the years ended December 31, 2000, 2001 and 2002, respectively.
10. ACCRUED LIABILITIES
Accrued liabilities consist of the following:
December 31,
2001 2002
Inventory received but not invoiced $ 434 $2,734
Reserve for returns 496 465
Accrued payroll and other related costs 400 673
Other accrued expenses 303 1,072
Deferred revenue 25 232
Accrued marketing expenses 435 1,233
$2,093 $6,409
11. BORROWINGS
In March 2001, the Company entered into a credit agreement with a related party (Note 19), for working capital purposes, of which $4,500 was
outstanding on December 31, 2001. The credit agreement matured in June 2002 and was not renewed by the Company. All amounts outstanding at
December 31, 2001 were repaid during 2002.
In September 2001, the Company entered into a separate $7,000 credit agreement with a related party (Note 19) for the purposes of acquiring inventory.
As of December 31, 2001, the Company had no borrowings outstanding under the agreement. The agreement matured in June 2002 and was not renewed by
the Company.
Capital leases
Future minimum lease payments under capital leases are as follows:
Year Ending
December 31,
2003 $ 139
2004 52
2005 10
2006 —
2007 —
Thereafter —
Total minimum lease payments 201
Less: amount representing interest (19)
Present value of capital lease obligations 182
Less: current portion (124)
Capital lease obligations, non-current $ 58
12. COMMITMENTS AND CONTINGENCIES
The Company leases 22 square feet of office space and 354 square feet for its warehouse facility in Salt Lake City, Utah. The Company also has lease
obligations under non-cancelable operating leases for computer equipment. Minimum future payments under these leases are as follows:
Year Ending
December 31,
2003 $ 1,452
2004 1,333
2005 1,081