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F-14 VONAGE ANNUAL REPORT 2013
Property and equipment, net
December 31,
2013
December 31,
2012
Building (under capital lease) $ 25,709 $25,709
Network equipment and computer hardware 78,312 87,145
Leasehold improvements 44,141 43,774
Furniture 812 842
Vehicles 109 97
149,083 157,567
Less: accumulated depreciation and amortization (96,840) (97,034)
Property and equipment, net $ 52,243 $60,533
Software, net
December 31,
2013
December 31,
2012
Purchased $ 45,178 $89,538
License 909 909
Internally developed 36,088 36,088
82,175 126,535
Less: accumulated amortization (61,618) (71,428)
abandonment of software assets $ — $ (35,547)
Software, net $ 20,557 $19,560
The total expected future annual amortization of software is as follows:
2014 $ 9,996
2015 7,916
2016 2,425
2017 186
2018 34
Total $ 20,557
Debt related costs, net
December 31,
2013
December 31,
2012
Senior secured term loan $ 4,706 $2,697
Less: accumulated amortization (3,393)(1,925)
Debt related costs, net $ 1,313 $772
Restricted cash
December 31,
2013
December 31,
2012
Letter of credit-lease deposits $ 4,306 $5,300
Letter of credit-energy curtailment program — 258
4,306 5,558
Cash reserves 99 98
Restricted cash $ 4,405 $5,656
Table of Contents
VONAGE HOLDINGS CORP.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
(In thousands, except per share amounts)