diff --git a/app/models/Asset.php b/app/models/Asset.php
index 9020d97d7d..7b4c6b398f 100755
--- a/app/models/Asset.php
+++ b/app/models/Asset.php
@@ -1,6 +1,6 @@
 <?php
 
-class Asset extends Elegant
+class Asset extends Depreciable
 {
 	use SoftDeletingTrait;
     protected $dates = ['deleted_at'];
@@ -20,16 +20,14 @@ class Asset extends Elegant
         'status' 			=> 'integer'
         );
 
-    /**
-    * Handle depreciation
-    */
-    public function depreciate()
+    public function depreciation()
     {
-        return $this->getCurrentValue(
-            Model::find($this->model_id)->depreciation_id,
-            $this->purchase_cost,
-            $this->purchase_date
-        );
+        return $this->model->belongsTo('Depreciation','depreciation_id');
+    }
+
+    public function get_depreciation()
+    {
+        return $this->model->depreciation;
     }
     
     /**
@@ -129,33 +127,6 @@ class Asset extends Elegant
             return date_format($date, 'Y-m-d');
     }
 
-     public function months_until_depreciated()
-    {
-            $today = date("Y-m-d");
-
-            // @link http://www.php.net/manual/en/class.datetime.php
-            $d1 = new DateTime($today);
-            $d2 = new DateTime($this->depreciated_date());
-
-            // @link http://www.php.net/manual/en/class.dateinterval.php
-            $interval = $d1->diff($d2);
-            return $interval;
-    }
-
-
-     public function depreciated_date()
-    {
-            $date = date_create($this->purchase_date);
-            date_add($date, date_interval_create_from_date_string($this->depreciation->months.' months'));
-            return date_format($date, 'Y-m-d');
-    }
-
-
-    public function depreciation()
-    {
-        return $this->model->belongsTo('Depreciation','depreciation_id');
-    }
-
     public function model()
     {
         return $this->belongsTo('Model','model_id');
@@ -164,13 +135,13 @@ class Asset extends Elegant
 	/**
 	* Get the license seat information
 	**/
-     public function licenses()
+    public function licenses()
     {
        	return $this->belongsToMany('License', 'license_seats', 'asset_id', 'license_id');
 
     }
 
-     public function licenseseats()
+    public function licenseseats()
     {
     		return $this->hasMany('LicenseSeat', 'asset_id');
     }
@@ -207,7 +178,7 @@ class Asset extends Elegant
     /**
     * Get total assets
     */
-     public static function autoincrement_asset()
+    public static function autoincrement_asset()
     {
         $settings = Setting::getSettings();
 
diff --git a/app/models/Depreciable.php b/app/models/Depreciable.php
new file mode 100644
index 0000000000..52386e853b
--- /dev/null
+++ b/app/models/Depreciable.php
@@ -0,0 +1,81 @@
+<?php
+
+class Depreciable extends Elegant
+{
+    /**
+    * Depreciation Relation, and associated helper methods
+    */
+
+    //REQUIRES a purchase_date field
+    //     and a purchase_cost field
+
+    //REQUIRES a get_depreciation method, 
+    //which will return the deprecation.
+    //this is needed because assets get 
+    //their depreciation from a model, 
+    //whereas licenses have deprecations
+    //directly associated with them.
+
+    //assets will override the following
+    //two methods in order to inherit from
+    //their model instead of directly (like
+    //here)
+
+    public function depreciation()
+    {
+        return $this->belongsTo('Depreciation','depreciation_id');
+    }
+
+    public function get_depreciation()
+    {
+        return $this->depreciation;
+    }
+
+     /**
+     * @param $purchase_cost
+     * @param $purchase_date1
+     * @return float|int
+     */
+
+    public function getDepreciatedValue()
+    {
+        if (!$this->get_depreciation()) { // will never happen
+            return $this->purchase_cost;
+        }
+
+        if ($this->get_depreciation()->months <= 0) {
+            return $this->purchase_cost;
+        }
+
+        // fraction of value left
+        $months_remaining = $this->time_until_depreciated()->m + $this->time_until_depreciated()->y; //UGlY
+        $current_value = round(($months_remaining/ $this->get_depreciation()->months) * $this->purchase_cost, 2);
+
+        if ($current_value < 0) {
+            $current_value = 0;
+        }
+        return $current_value;
+    }
+
+    public function time_until_depreciated()
+    {
+        // @link http://www.php.net/manual/en/class.datetime.php
+        $d1 = new DateTime();
+        $d2 = $this->depreciated_date();
+
+        // @link http://www.php.net/manual/en/class.dateinterval.php
+        $interval = $d1->diff($d2);
+        if(!$interval->invert) {
+            return $interval;
+        } else {
+            return new DateInterval("PT0S"); //null interval (zero seconds from now)
+        }
+    }
+
+    public function depreciated_date()
+    {
+        $date = date_create($this->purchase_date);
+        date_add($date, date_interval_create_from_date_string($this->get_depreciation()->months . ' months'));
+        return $date; //date_format($date, 'Y-m-d'); //don't bake-in format, for internationalization
+    }    
+}
\ No newline at end of file
diff --git a/app/models/Depreciation.php b/app/models/Depreciation.php
index 516f3c0cec..1b1506f9d0 100755
--- a/app/models/Depreciation.php
+++ b/app/models/Depreciation.php
@@ -12,4 +12,9 @@ class Depreciation extends Elegant
     {
         return $this->hasMany('Model', 'depreciation_id')->count();
     }
+
+    public function has_licenses()
+    {
+      return $this->hasMany('License','depreciation_id')->count();
+    }
 }
diff --git a/app/models/Elegant.php b/app/models/Elegant.php
index aeec00023e..c2f0ddd77e 100755
--- a/app/models/Elegant.php
+++ b/app/models/Elegant.php
@@ -30,36 +30,4 @@ class Elegant extends Eloquent
     {
         return str_replace("{id}", $id, $this->rules);
     }
-
-    /**
-     * @param $depreciation_id
-     * @param $purchase_cost
-     * @param $purchase_date1
-     * @return float|int
-     */
-    protected function getCurrentValue($depreciation_id, $purchase_cost, $purchase_date1)
-    {
-        if (!$depreciation_id) {
-            return $purchase_cost;
-        }
-
-        $depreciation_term = Depreciation::find($depreciation_id)->months;
-        if ($depreciation_term <= 0) {
-            return $purchase_cost;
-        }
-
-        $purchase_date = strtotime($purchase_date1);
-
-        $todaymonthnumber = date("Y") * 12 + (date("m") - 1); //calculate the month number for today as YEAR*12 + (months-1) - number of months since January year 0
-        $purchasemonthnumber = date("Y", $purchase_date) * 12 + (date("m", $purchase_date) - 1); //purchase date calculated similarly
-        $diff_months = $todaymonthnumber - $purchasemonthnumber;
-
-        // fraction of value left
-        $current_value = round((($depreciation_term - $diff_months) / ($depreciation_term)) * $purchase_cost, 2);
-
-        if ($current_value < 0) {
-            $current_value = 0;
-        }
-        return $current_value;
-    }
 }
diff --git a/app/models/License.php b/app/models/License.php
index 36fbee6d2f..b977aae9d5 100755
--- a/app/models/License.php
+++ b/app/models/License.php
@@ -1,11 +1,11 @@
 <?php
 
-class License extends Elegant
+class License extends Depreciable
 {
 	use SoftDeletingTrait;
     protected $dates = ['deleted_at'];
 
-     public $timestamps = true;
+    public $timestamps = true;
 
     protected $guarded = 'id';
     protected $table = 'licenses';
@@ -155,44 +155,4 @@ class License extends Elegant
     {
         return $this->belongsTo('Supplier','supplier_id');
     }
-
-    /**
-     * Get depreciation class
-     */
-    public function depreciation()
-    {
-        return $this->belongsTo('Depreciation','depreciation_id');
-    }
-
-     public function months_until_depreciated()
-    {
-        $today = date("Y-m-d");
-
-        // @link http://www.php.net/manual/en/class.datetime.php
-        $d1 = new DateTime($today);
-        $d2 = new DateTime($this->depreciated_date());
-
-        // @link http://www.php.net/manual/en/class.dateinterval.php
-        $interval = $d1->diff($d2);
-        return $interval;
-    }
-
-     public function depreciated_date()
-    {
-        $date = date_create($this->purchase_date);
-        date_add($date, date_interval_create_from_date_string($this->depreciation->months . ' months'));
-        return date_format($date, 'Y-m-d');
-    }
-
-    /**
-    * Handle depreciation
-    */
-    public function depreciate()
-    {
-        return $this->getCurrentValue(
-            License::find($this->license_id)->depreciation_id,
-            $this->purchase_cost,
-            $this->purchase_date
-        );
-    }
 }
diff --git a/app/views/backend/hardware/view.blade.php b/app/views/backend/hardware/view.blade.php
index 2a10c68e31..18e093101f 100755
--- a/app/views/backend/hardware/view.blade.php
+++ b/app/views/backend/hardware/view.blade.php
@@ -119,13 +119,13 @@
                 @lang('admin/hardware/form.months')
                 )</div>
             <div class="col-md-12" style="padding-bottom: 5px;"><strong>@lang('admin/hardware/form.fully_depreciated'): </strong>
-            {{{ $asset->months_until_depreciated()->m }}}
-            @lang('admin/hardware/form.months')
-             @if ($asset->months_until_depreciated()->y > 0)
-                , {{{ $asset->months_until_depreciated()->y }}}
-                @lang('admin/hardware/form.years')
+             @if ($asset->time_until_depreciated()->y > 0)
+                {{{ $asset->time_until_depreciated()->y }}}
+                @lang('admin/hardware/form.years'), 
              @endif
-              ({{{ $asset->depreciated_date() }}})
+           {{{ $asset->time_until_depreciated()->m }}}
+            @lang('admin/hardware/form.months')
+               ({{{ $asset->depreciated_date()->format('Y-m-d') }}})
              </div>
         @endif
 
diff --git a/app/views/backend/licenses/view.blade.php b/app/views/backend/licenses/view.blade.php
index e126b80bf8..19536e7287 100755
--- a/app/views/backend/licenses/view.blade.php
+++ b/app/views/backend/licenses/view.blade.php
@@ -73,18 +73,18 @@
 
 	<div class="col-md-6" style="padding-bottom: 5px">
 		<strong>@lang('admin/hardware/form.depreciates_on'): </strong>
-		{{{ $license->depreciated_date() }}}
+		{{{ $license->depreciated_date()->format("Y-m-d") }}}
 	</div>
 
 	<div class="col-md-6" style="padding-bottom: 5px">
 		<strong>@lang('admin/hardware/form.fully_depreciated'): </strong>
-		{{{ $license->months_until_depreciated()->m }}}
+        @if ($license->time_until_depreciated()->y > 0)
+            {{{ $license->time_until_depreciated()->y }}}
+            @lang('admin/hardware/form.years'), 
+        @endif
+		{{{ $license->time_until_depreciated()->m }}}
 		@lang('admin/hardware/form.months')
 
-		@if ($license->months_until_depreciated()->y > 0)
-			, {{{ $license->months_until_depreciated()->y }}}
-			@lang('admin/hardware/form.years')
-		@endif
 	 </div>
 @endif
 
diff --git a/app/views/backend/reports/depreciation.blade.php b/app/views/backend/reports/depreciation.blade.php
index 134321f3eb..394bae98a0 100644
--- a/app/views/backend/reports/depreciation.blade.php
+++ b/app/views/backend/reports/depreciation.blade.php
@@ -89,9 +89,9 @@
             <td class="align-right">@lang('general.currency')
             {{{ number_format($asset->purchase_cost) }}}</td>
             <td class="align-right">@lang('general.currency')
-            {{{ number_format($asset->depreciate()) }}}</td>
+            {{{ number_format($asset->getDepreciatedValue()) }}}</td>
             <td class="align-right">@lang('general.currency')
-            -{{{ number_format(($asset->purchase_cost - $asset->depreciate())) }}}</td>
+            -{{{ number_format(($asset->purchase_cost - $asset->getDepreciatedValue())) }}}</td>
             @else
             <td></td>
             <td></td>