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These excerpts taken from the SMCI 10-K filed Sep 2, 2008. Property and Equipment Property and equipment are recorded at cost and depreciated using the straight-line method over the estimated useful lives of the related assets as follows:
For assets acquired and financed under capital leases, the present value of the future minimum lease payments is recorded at the date of acquisition as property and equipment with the corresponding amount recorded as a capital lease obligation, and the amortization is computed on a straight-line basis over the shorter of lease term or estimated useful life. Property and Equipment follows:
For assets acquired and financed under capital leases, the present value of the future minimum This excerpt taken from the SMCI 10-Q filed May 11, 2007. Property and Equipment:
The costs of assets under capital leases were $402,000 and $510,000 as of June 30, 2006 and March 31, 2007, respectively, and accumulated amortization was $46,000 and $89,000, respectively. | EXCERPTS ON THIS PAGE:
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