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## COMSTOCK RESOURCES, INC. AND SUBSIDIARIES 

## NOTES TO CONSOLIDATED FINANCIAL STATEMENTS — (Continued) 

standardized measure of discounted future net cash flows because the standardized measure requires the use of an average price based on the first day of each month of the preceding year and is limited to proved reserves. The Company recognized impairment charges related to its oil and gas properties of $60.8 million, $25.4 million and $0.7 million in 2011, 2012, and 2013, respectively. 

Other property and equipment consists primarily of gas gathering systems, computer equipment, furniture and fixtures and an airplane which are depreciated over estimated useful lives ranging from three to 31 $^{1}$⁄ 2 years on a straight-line basis. 

## Other Assets 

Other assets primarily consist of deferred costs associated with issuance of the Company’s senior notes and bank credit facility. These costs are amortized over the life of the senior notes and the life of the bank credit facility on a straight-line basis which approximates the amortization that would be calculated using an effective interest rate method. 

## Accrued Expenses 

Accrued expenses at December 31, 2012 and 2013 consist of the following: 

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## Reserve for Future Abandonment Costs 

The Company’s asset retirement obligations relate to future plugging and abandonment costs of its oil and gas properties and related facilities disposal. The Company records a liability in the period in which an asset retirement obligation is incurred, in an amount equal to the discounted estimated fair value of the obligation that is capitalized. Thereafter, this liability is accreted up to the final retirement cost. Accretion of the discount is included as part of depreciation, depletion and amortization in the accompanying consolidated financial statements. 

