Overstock.com 2015 Annual Report Download - page 58

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As a result of these factors, we had a 9% increase in Contribution in 2014 compared to 2013 (see  below for a
reconciliation of Contribution to Gross Profit). Contribution margin decreased to 11.5% for 2014 from 12.1% for 2013.
Technology expense in 2014 increased $14.5 million compared to 2013, primarily due to increases in staff-related costs, depreciation, and technical
consulting.
General and administrative expense in 2014 increased $3.6 million compared to 2013, primarily due to an increase in staff and travel related costs
and professional fees, partially offset by a decrease in legal costs.
Provision (benefit) for income taxes in 2014 was $4.4 million compared to ($68.0) million in 2013. The large income tax benefit in 2013 was due to
a $75.5 million deferred tax asset valuation release in 2013 after we concluded that it was more likely than not that we will realize our deferred tax assets.
The balance of our Management’s Discussion and Analysis of Financial Condition and Results of Operations provides further information about the
matters discussed above and other important matters affecting our business.
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