eBay 1999 Annual Report Download - page 67

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Write-offs against the allowance for doubtful accounts were $562,000 and $4.5 million in the years ended
December 31, 1998 and 1999, respectively.
December 31,
1998 1999
(in thousands)
Property and equipment, net:
Land and buildings ........................................ $42,150 $ 61,274
Computer equipment and software ............................. 10,730 64,872
Leasehold improvements .................................... 2,312 6,510
Furniture and fixtures ....................................... 1,697 8,844
Vehicles and other ......................................... 881 2,529
Total ............................................... 57,770 144,029
Less: Accumulated depreciation and amortization ...................... (13,708) (32,223)
Total ............................................... $44,062 $111,806
Within computer equipment and software, the Company capitalized $788,000 and $5.8 million in site related
software during the years ended December 31, 1998 and 1999, respectively.
Intangible assets, net:
Intangible assets .......................................... $ 5,442 $ 12,601
Accumulated amortization ................................... (1,714) (3,789)
Total ............................................... $ 3,728 $ 8,812
Accrued expenses and other current liabilities:
Accrued compensation and related benefits ....................... $ 2,241 $ 5,826
Advertising accruals ........................................ 1,274 4,918
Professional fees .......................................... 451 3,990
Other accruals ............................................ 2,611 17,816
Total ............................................... $ 6,577 $ 32,550
Note 7—Debt:
Credit facilities
At December 31, 1998, the Company maintained a revolving line of credit with a bank that provided for
borrowings of up to $4.5 million. The line of credit accrued interest on outstanding borrowings at a rate equal to
the bank’s prime rate. The line of credit was terminated during 1999.
eBAY INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
62