6. Debt and Capital Lease Obligations

The Company’s debt, other than related party debt, consisted of the following at June 30, 2013:

 

(in thousands, except installment amounts and interest rates)		June 30, 2013
Notes payable to finance companies for the purchase of vehicles and equipment in 36 to 60 monthly installments totaling $10,020, including interest ranging from 2.9% to 10.35%. The notes are secured by vehicles and equipment		$	117
Less – current portion of debt			(89	)
Debt, net of current portion		$	28

Maturities of debt are as follows:

 

(in thousands)		Years Ending December 31,
2013		$	49
2014			66
2015			2
		$	117

The Company has vehicles financed under capital leases. The cost of the capitalized leased assets included in property and equipment is $2,067 and $2,000 at June 30, 2013 and December 31, 2012, respectively. Accumulated amortization of capitalized leased assets was $1,452 and $1,300 at June 30, 2013 and December 31, 2012, respectively. Amortization expense for capitalized leased assets was $51 and $85 for each of the three months ended June 30, 2013 and 2012, and $133 and $123 for the six months ended June 30, 2013 and 2012, respectively.

Our future minimum lease payments and capital lease obligations are as follows:

 

(in thousands)		At June 30, 2013
Year ending December 31,
2013		$	153
2014			214
2015			173
2016			33
2017			12
Total future minimum lease payments			585
Less – amounts representing interest			(40	)
Total capital lease obligations			545
Less – current portion of capital lease obligations			(244	)
Capital lease obligations, net of current portion		$	301

 

The current portions of debt and capital lease obligations are recorded in other current liabilities on the condensed consolidated balance sheet. Debt and capital lease obligations, each net of current portion, are recorded in other liabilities on the condensed consolidated balance sheet.