Stamps.com 2003 Annual Report Download - page 54

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Table of Contents
STAMPS.COM INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
7. Accrued Expenses
The following table summarizes the Company’s accounts payable and accrued expenses as of December 31, 2003 and 2002 (in thousands):
8. Allowance for Doubtful Accounts
There was no significant allowance for doubtful accounts for the years ended December 31, 2003, 2002 and 2001, respectively. Write-offs
against the allowance for doubtful accounts totaled $1.2 million for the years ended December 31, 2001 and $0 for the years ended
December 31, 2003 and 2002.
9. Property and Equipment
Property and equipment is summarized as follows (in thousands):
During 2003, 2002 and 2001, depreciation expense including the amortization on equipment under capital leases, was approximately
$2.7 million, $5.3 million and $8.1 million, respectively.
F-15
2003 2002
Accrued expenses:
Payroll and related accrual
$
1,103
$
806
Restructuring accrual
46
288
Legal and related accrual
400
399
Deferred rent accrual
51
152
Marketing and related accrual
901
408
Sales tax accrual
407
—
Other accrual
871
562
Accrued expenses
$
3,779
$
2,615
2003 2002
Furniture and equipment
$
1,713
$
1,697
Computers and software
20,631
19,890
Leasehold improvements
1,851
1,826
24,195
23,413
Less accumulated depreciation and amortization
(19,982
)
(17,327
)
Property and equipment, net
$
4,213
$
6,086