v2.4.0.8
Property, Plant and Equipment
 9 Months Ended
Sep. 30, 2014
Property, Plant and Equipment

2. PROPERTY, PLANT AND EQUIPMENT

Property, plant and equipment and accumulated depreciation were as follows:

 

     September 30,     December 31,  
     2014     2013  

Property, plant and equipment

     

Buildings

    $ 28,154      $ 14,828   

Software and capitalized software costs

      7,635        5,578   

Computer equipment

      6,613        4,832   

Rental clocks

      6,111        4,865   

Furniture, fixtures and equipment

      4,073        3,189   

Vehicles

      421        421   

Leasehold improvements

      159        135   
  

 

 

    

 

 

  
     53,166        33,848   

Less: accumulated depreciation

      (15,517 )      (11,540 ) 
  

 

 

    

 

 

  
     37,649        22,308   

Land

      8,993        8,993   

Construction in process

      —          7,370   
  

 

 

    

 

 

  

Property, plant and equipment, net

    $ 46,642      $ 38,671   
  

 

 

    

 

 

  

Rental clocks included in property, plant and equipment, net represent time clocks issued to clients under month-to-month operating leases. These items are transferred upon issuance from inventory to fixed assets and depreciated over their estimated useful lives.

Depreciation expense for property, plant and equipment, net was $1.4 million and $4.0 million for the three and nine months ended September 30, 2014, respectively. Depreciation expense for property, plant and equipment, net was $1.0 million and $2.8 million for the three and nine months ended September 30, 2013, respectively.

We capitalize interest incurred under our indebtedness related to construction of our principal executive offices. For the three months ended September 30, 2014, we paid interest costs of $0.3 million, none of which was capitalized. For the nine months ended September 30, 2014, we paid interest costs of $0.9 million, of which $0.4 million was capitalized. For the three and nine months ended September 30, 2013, we paid interest costs of $0.2 million and $0.6 million, respectively, of which less than $0.1 million was capitalized for each respective time period.