Property and Equipment

9 Months Ended

Sep. 30, 2014

3.	Property and Equipment

Property and equipment is summarized as follows at September 30, 2014 and December 31, 2013:

	September 30,			December 31,
	2014			2013
Leasehold improvements	$	90		$	87
Machinery and equipment		6,935			8,347
Vending equipment		26,418			24,083
Racks and display panels		28,621			33,562
Office furniture and equipment		234			234
Software and computer equipment		4,088			3,972
Vehicles under capital leases		405			–
Equipment not in service		662			1,525
		67,453			71,810
Less accumulated depreciation and amortization		(32,617	)		(33,176	)
	$	34,836		$	38,634

During the second quarter of 2014, we entered into an arrangement to sell or otherwise dispose of certain racks and machinery in exchange for cash proceeds of $1,212. The racks and machinery disposed of had a gross carrying value of $5,392 and accumulated depreciation of $(3,677) reported within property and equipment, net on our condensed consolidated balance sheets. The expected total sales proceeds, less amounts collected during the third quarter of 2014, is presented as a receivable in prepaid expenses and other current assets on our condensed consolidated balance sheets at September 30, 2014. The disposals resulted in a loss of $503 which is reported within loss on disposal and impairment of property and equipment on our condensed consolidated statements of operations for the nine months ended September 30, 2014.

- Definition

The entire disclosure for long-lived, physical assets used in the normal conduct of business and not intended for resale. Includes, but is not limited to, accounting policies and methodology, roll forwards, depreciation, depletion and amortization expense, including composite depreciation, accumulated depreciation, depletion and amortization expense, useful lives and method used, income statement disclosures, assets held for sale and public utility disclosures.

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