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TABLE OF CONTENTS
STAMPS.COM INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
ThecontractualmaturitiesofourdebtobligationsduesubsequenttoDecember31,2015areasfollows(inthousands):
Amount
2016 $ 4,641
2017  6,703
2018  8,766
2019  10,828
2020  132,521
Totaldebt  163,459
  
Lessdebtissuancecosts  1,839
Totaldebt,netofdebtissuancecosts $ 161,620
  
8. Accounts Payable and Accrued Expenses
ThefollowingtablesummarizesouraccountspayableandaccruedexpensesasofDecember31,2015and2014(inthousands):
2015 2014
Payrollandrelatedaccrual $ 12,863 $ 6,225
Costofrevenue,inventoryandmaterialsaccrual 539  2,187
Constructionandfacilityexpenseaccrual 649  439
Professionalfeesaccrual 1,973  1,402
Salesandmarketingrelatedaccrual 5,145  3,252
Operatingexpensesrelatedaccrual 28,926  4,920
Otheraccruals 10,721  4,096
Accountspayableandaccruedexpenses $ 60,816 $ 22,521
9. Property and Equipment
Propertyandequipmentissummarizedasfollows(inthousands):
2015 2014
Land $ 7,156 $ 7,156
Building 4,886  4,886
Buildingimprovements 14,048  13,942
Leaseholdimprovements 1,055  747
Furnitureandequipment 2,016  1,709
Computersandsoftware 18,920  14,479
48,081  42,919
Lessaccumulateddepreciationandamortization (16,374)  (12,492)
Propertyandequipment,net $ 31,707 $ 30,427
During2015,2014and2013,depreciationexpensewasapproximately$3.9million,$3.2millionand$2.4million,respectively.
10. Income Taxes
In2015,ournetincometaxbenefitof$1.4millionconsistedofcurrentincometaxexpenseconsistingoffederalalternative
minimumtaxandvariousstatetaxesanddeferredincometaxbenefitconsistingoftemporarytaxitemsincludingcontingent
consideration,stockcompensationanddifferencesinthebookandtaxlivesof
F-25