F-22
13. Capital Leases
We lease certain equipment under capital leases. Property and equipment included the following amounts for capital leases at
December 31:
2013
2012
Computer equipment ................................................................................. $ 20,409 $ 23,107
Computer software ....................................................................................
3,304
4,302
Furniture and fixtures ................................................................................
90
176
Leasehold improvements...........................................................................
42
51
Total equipment under capital lease at cost .....................................
23,845
27,636
Less: accumulated amortization ................................................................
(9,886) (13,529)
Net property and equipment under capital leases ............................ $ 13,959 $ 14,107
Capital leases are collateralized by the leased assets. Our capital leases generally contain provisions whereby we can purchase
the equipment at the end of the lease for a one dollar buyout. Amortization of leased assets is included in depreciation and
amortization expense.
Future minimum payments under capital lease obligations consisted of the following at December 31, 2013:
2014 ................................................................................................................. $
5,501
2015 .................................................................................................................
3,858
2016 .................................................................................................................
2,319
2017 .................................................................................................................
1,206
2018 .................................................................................................................
20
Total minimum lease payments..............................................................
12,904
Less: amounts representing interest .......................................................
(830)
Present value of net minimum lease payments (including current
portion of $5,056).............................................................................. $ 12,074
14. Common Stock
Our Class A common stockholders are entitled to one vote for each share of stock held for all matters submitted to a vote of
stockholders. Our Class B stockholders are entitled to three votes for each share owned.
15. Fair Value Measurements
Our assets and liabilities subject to fair value measurements on a recurring basis and the required disclosures are:
As of December 31, 2013
Fair Value
Fair Value Measurements
Using Fair Value Hierarchy
Total
Level 1
Level 2
Level 3
Assets:
Cash and cash equivalents.................................................... $ 41,904 $ 41,904 $
— $
—
Corporate bonds ......................................................... 18,498
18,498
—
—
Mortgage-backed and asset-backed securities............
1,506
1,506
—
—
Marketable securities ........................................................... 20,004
20,004
—
—
Deferred compensation plan investments ............................
1,003
1,003
—
—
Assets at Fair Value .......................................... $ 62,911 $ 62,911 $
— $
—
Liabilities:
Deferred compensation ........................................................ $
637 $
637 $
— $
—
Contractual acquisition earn-outs.........................................
369
—
—
369
Liabilities at Fair Value .................................... $ 1,006 $
637 $
— $
369
