Overstock.com 2006 Annual Report Download - page 99

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10. OTHER LONG-TERM ASSETS
Other long-term assets consist of the following (in thousands):
December 31,
2005 2006
Domain names $ 667 $ 466
Intangibles 879 26
Less: accumulated amortization (369)(435)
1,177 57
Deferred financing fees, net 208 173
Deposits and long-term prepaids 1,948 348
$3,333 $ 578
Amortization of domain names and intangibles totaled $61,000, $142,000 and $110,000 for the years ended December 31, 2004,
2005 and 2006, respectively.
11. ACCRUED LIABILITIES
Accrued liabilities consist of the following (in thousands):
December 31,
2005 2006
Inventory received but not invoiced $ 9,614 $ 243
Allowance for returns 5,576 3,615
Accrued payroll and other related costs 6,532 7,952
Deferred revenue 1,933 2,650
Accrued marketing expenses 10,161 10,835
Merchant processing fee accrual 841 818
Accrued freight 202 554
Accrued professional expenses 849 1,410
Accrued tax expenses 2,471 2,075
Lease termination costs — 5,499
Lease termination costs — 450
Other accrued expenses 7,755 4,041
$45,934 $40,142
12. BORROWINGS
$30.0 million Amended Credit Agreement
On October 18, 2005, the Company entered into a sixth amendment to a credit agreement ("Amended Credit Agreement") with
Wells Fargo Bank, National Association. The Amended Credit Agreement provides a revolving line of credit to the Company of up to
$30.0 million which the Company uses primarily to obtain letters of credit to support inventory purchases. The Amended Credit
Agreement expires on December 31, 2007, however, the Company has an option to renew the Amended Credit Agreement annually.
Interest on borrowings is payable monthly and accrued at either (i) 1.35% above LIBOR in effect on the first day of an applicable
fixed rate term, or (ii) at a fluctuating rate per annum determined by the bank to be one half a percent (0.50%) above daily LIBOR in
effect on each business day a change in daily LIBOR is announced by the bank. Unpaid principal, together with accrued and unpaid
interest is due on the maturity date. The Amended Credit Agreement requires the Company to comply with certain
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