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Capital Lease Obligations

6 Months Ended

Jun. 30, 2015

Debt Disclosure [Abstract]

Capital Lease Obligations

6. Capital Lease Obligations

At June 30, 2015 and December 31, 2014, total capital lease obligations outstanding consisted of the following:

		June 30,				December 31,
		2015				2014
		(Unaudited)
Capital lease obligations, imputed interest at 4.75%, with monthly payments of $1,507, through November 2016, secured by computer equipment		$	35,916			$	47,250
Total			35,916				47,250
Less: current maturities			(23,426	)			(22,853	)
Long-term portion		$	12,490			$	24,397

Our capital lease obligations are included within “Deferred revenue and other current liabilities” and “other long-term liabilities” in our condensed consolidated balance sheets.  The amount of interest expense related to our capital leases for the three months ended June 30, 2015 and 2014 was $426 and $452, respectively.  The amount of interest expense related to our capital leases for the six months ended June 30, 2015 and 2014 was $913 and $1,090, respectively.  

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The entire disclosure for debt and capital lease obligations can be reported. Information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants. Also includes descriptions and amounts of capital leasing arrangements that consist of direct financing, sales type and leveraged leases. Disclosure may include the effect on the balance sheet and the income statement resulting from a change in lease classification for leases that at inception would have been classified differently had guidance been in effect at the inception of the original lease.

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