Tucows 2013 Annual Report Download - page 89

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Total foreign currency forward contracts
Derivative
instruments
$
(491,098
)
$
444,782
Effects of derivative instruments on income and other comprehensive income (OCI)
Derivatives in Cash Flow
Hedging Relationship
Amount of
Gain or
(Loss)
Recognized
in OCI on
Derivative
(Effective
Portion)
Location of
Gain or
(Loss)
Reclassified
from
Accumulated
OCI into
Income
(Effective
Portion)
Amount of
Gain or
(Loss)
Reclassified
from
Accumulated
OCI into
Income
(Effective
Portion)
Location of
Gain or
(Loss)
Recognized
in Income
on
Derivative
(ineffective
Portion and
Amount
Excluded
from
Effectiveness
Testing)
Amount of
Gain or
(Loss)
Recognized
in Income
on
Derivative
(ineffective
Portion and
Amount
Excluded
from
Effectiveness
Testing)
Operating
expenses
(318,605
)
Foreign currency forward contracts – year ended
December 31, 2013
$
(289,085
)
Cost of
revenues
(406
)
—
—
Foreign currency forward contracts – year ended
December 31, 2012
$
44,104
—
—
—
—
F-16
5. Property and equipment:
Property and equipment consist of the following:
December 31,
2013
December 31,
2012
Computer equipment
$
6,937,495
$
6,529,764
Computer software
1,175,664
1,157,609
Furniture and equipment
711,346
542,213
8,824,505
8,229,586
Less:
Accumulated depreciation
7,066,669
6,877,442
$
1,757,836
$
1,352,144
Depreciation of property and equipment:
Year ended
December 31,
2013
Year ended
December 31,
2012
Year ended
December 31,
2011
Depreciation of property and equipment
$
843,420
$
802,060
$
937,460
6. Intangible assets:
Intangible assets consist of acquired technology, brand, customer relationships, non-competition agreements,
surname domain names and direct navigation domain names. These balances are being amortized, where applicable, on a
straight-line basis over the term of the intangible assets, as reflected in the table below.
Acquired intangible assets consist of the following:
Technology
Brand
Customer
Surname
Direct