Stamps.com 2015 Annual Report Download - page 84
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STAMPS.COM INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
ThecontractualmaturitiesofourdebtobligationsduesubsequenttoDecember31,2015areasfollows(inthousands):
Amount
2016 $ 4,641
2017 6,703
2018 8,766
2019 10,828
2020 132,521
Totaldebt 163,459
Lessdebtissuancecosts 1,839
Totaldebt,netofdebtissuancecosts $ 161,620
8. Accounts Payable and Accrued Expenses
ThefollowingtablesummarizesouraccountspayableandaccruedexpensesasofDecember31,2015and2014(inthousands):
2015 2014
Payrollandrelatedaccrual $ 12,863 $ 6,225
Costofrevenue,inventoryandmaterialsaccrual 539 2,187
Constructionandfacilityexpenseaccrual 649 439
Professionalfeesaccrual 1,973 1,402
Salesandmarketingrelatedaccrual 5,145 3,252
Operatingexpensesrelatedaccrual 28,926 4,920
Otheraccruals 10,721 4,096
Accountspayableandaccruedexpenses $ 60,816 $ 22,521
9. Property and Equipment
Propertyandequipmentissummarizedasfollows(inthousands):
2015 2014
Land $ 7,156 $ 7,156
Building 4,886 4,886
Buildingimprovements 14,048 13,942
Leaseholdimprovements 1,055 747
Furnitureandequipment 2,016 1,709
Computersandsoftware 18,920 14,479
48,081 42,919
Lessaccumulateddepreciationandamortization (16,374) (12,492)
Propertyandequipment,net $ 31,707 $ 30,427
During2015,2014and2013,depreciationexpensewasapproximately$3.9million,$3.2millionand$2.4million,respectively.
10. Income Taxes
In2015,ournetincometaxbenefitof$1.4millionconsistedofcurrentincometaxexpenseconsistingoffederalalternative
minimumtaxandvariousstatetaxesanddeferredincometaxbenefitconsistingoftemporarytaxitemsincludingcontingent
consideration,stockcompensationanddifferencesinthebookandtaxlivesof
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