Quarterly report pursuant to sections 13 or 15(d)

Property and Equipment

v2.3.0.11
Property and Equipment
 3 Months Ended
Mar. 31, 2012
Property and Equipment [Abstract]  
Property and Equipment
4. Property and Equipment

Property and equipment consisted of the following as of March 31, 2012 and December 31, 2011 (amounts in thousands):

 

                 
    2012     2011  

Pump equipment

   $ 31,890     $ 31,734  

Furniture, fixtures, and equipment

     2,325       2,226  

Accumulated depreciation

     (19,351 )      (18,196 ) 
   

 

 

    

 

 

  

Total

   $ 14,864     $ 15,764  
   

 

 

    

 

 

  

Included in pump equipment above is $6.7 million and $7.4 million, as of March 31, 2012 and December 31, 2011, respectively, of capital lease pump assets. Included in accumulated depreciation above is $2.1 million and $2.2 million, as of March 31, 2012 and December 31, 2011, respectively, associated with the same capital lease pump assets. Under the terms of all such capital leases, the Company does not presently hold title to these pumps and will not obtain title until such time as the capital lease obligations are settled in full.

Depreciation expense for the three months ended March 31, 2012 and 2011 was $1.4 million and $1.6 million, respectively, which was recorded in cost of revenues and general and administrative expenses, for pump equipment and other fixed assets, respectively.