Asset Retirement Obligations

6 Months Ended

Jun. 30, 2014

Asset Retirement Obligations [Abstract]

(9) Asset Retirement Obligations

Asset retirement obligations consist primarily of costs to deinstall the Company's ATMs and costs to restore the ATM sites to their original condition, which are estimated based on current market rates. In most cases, the Company is contractually required to perform this deinstallation and restoration work. For each group of ATMs, the Company has recognized the fair value of the asset retirement obligation as a liability on its balance sheet and capitalized that cost as part of the cost basis of the related asset. The related assets are depreciated on a straight-line basis over five years, which is the estimated average time period that an ATM is installed in a location before being deinstalled, and the related liabilities are accreted to their full value over the same period of time.

The following table is a summary of the changes in the Company's asset retirement obligation liability for the six months ended June 30, 2014 (in thousands):



Asset retirement obligation as of January 1, 2014	$	63,831
Additional obligations		3,083
Accretion expense		1,694
Payments		(1,750)
Foreign currency translation adjustments		1,225
Total Asset retirement obligation as of June 30, 2014		68,083
Less: current portion		3,202
Asset retirement obligation, excluding current portion	$	64,881

See Note 12, Fair Value Measurements for additional disclosures on the Company's asset retirement obligations with respect to its fair value measurements.