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Summary of Significant Accounting Policies (Tables)
12 Months Ended
Dec. 31, 2022
Accounting Policies [Abstract]  
Estimated Useful Lives Depreciation is computed using the straight line method over the estimated useful lives of the assets as follows:

Furniture, fixtures and equipment

5 years

Computer equipment

3 years

Software and capitalized software

3 years

Buildings

30 years

Leasehold improvements

5 years

Rental clocks

5 years

Land improvements

15 years

Vehicles

3 years

 

Summary of Changes in Deferred Revenue Related to Material Rights

Changes in deferred revenue related to material rights for the years ended December 31, 2022 and 2021 were as follows:

 

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

Balance, beginning of period

 

$

101,426

 

 

$

86,826

 

Recognition of revenue included in beginning of year balance

 

 

(15,949

)

 

 

(13,298

)

Contract balance, net of revenue recognized during the period

 

 

31,939

 

 

 

27,898

 

Balance, end of period

 

$

117,416

 

 

$

101,426

 

Summary of Asset Balances and Related Amortization Expense For Contract Costs

The following tables present the asset balances and related amortization expense for these contract costs:

 

 

 

As of and for the Year Ended December 31, 2022

 

 

 

Beginning

 

 

Capitalization

 

 

 

 

 

Ending

 

 

 

Balance

 

 

of Costs

 

 

Amortization

 

 

Balance

 

Costs to obtain a contract

 

$

272,919

 

 

$

97,978

 

 

$

(45,440

)

 

$

325,457

 

Costs to fulfill a contract

 

$

265,657

 

 

$

114,152

 

 

$

(40,914

)

 

$

338,895

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of and for the Year Ended December 31, 2021

 

 

 

Beginning

 

 

Capitalization

 

 

 

 

 

Ending

 

 

 

Balance

 

 

of Costs

 

 

Amortization

 

 

Balance

 

Costs to obtain a contract

 

$

232,583

 

 

$

77,644

 

 

$

(37,308

)

 

$

272,919

 

Costs to fulfill a contract

 

$

199,593

 

 

$

96,728

 

 

$

(30,664

)

 

$

265,657