Annual report pursuant to Section 13 and 15(d)

ESCROW DEPOSITS ON LIKE-KIND EXCHANGES

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ESCROW DEPOSITS ON LIKE-KIND EXCHANGES
12 Months Ended
Dec. 31, 2013
Escrow Deposits [Abstract]  
ESCROW DEPOSITS ON LIKE-KIND EXCHANGES
ESCROW DEPOSITS ON LIKE-KIND EXCHANGES
From time to time, the Company enters into Qualified Exchange Accommodation Agreements with a third party to meet the like-kind exchange requirements of Section 1031 of the Internal Revenue Code and the provisions of Revenue Procedure 2000-37. In accordance with these provisions, the Company is permitted to deposit proceeds from the sale of assets into escrow accounts for the purpose of acquiring other assets and qualifying for the temporary deferral of taxable gains realized. Consequently, the Company established escrow accounts with financial institutions for the deposit of funds received on sale of equipment, which were designated for replacement property within a specified period of time. As of December 31, 2013 and 2012, there were no deposits in like-kind exchange escrow accounts.