Plantronics 2015 Annual Report Download - page 65

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The Company did not incur any material realized or unrealized net gains or losses for the fiscal years ended March 31, 2015 and
2014.
There were no transfers between fair value measurement levels during the years ended March 31, 2015 and 2014.
5. DEFERRED COMPENSATION
As of March 31, 2015, the Company held investments in mutual funds totaling $5.5 million, all of which related to debt and equity
securities that are held in a rabbi trust under non-qualified deferred compensation plans. The total related deferred compensation
liability was $5.5 million at March 31, 2015. The fair value of debt and equity securities held in the rabbi trust at March 31,
2014 was $1.8 million. The total related deferred compensation liability at March 31, 2014 was $1.8 million.
The securities are classified as trading securities and are recorded on the Consolidated Balance Sheets under "Short-term
investments". The liability is recorded on the Consolidated Balance Sheets under “Other long-term liabilities”.
6. DETAILS OF CERTAIN BALANCE SHEET ACCOUNTS
Accounts receivable, net:
March 31,
(in thousands) 2015 2014
Accounts receivable $ 159,397 $ 159,592
Provisions for returns (6,194)(6,201)
Provisions for promotions and rebates (15,401)(14,803)
Provisions for doubtful accounts and sales allowances (1,221)(287)
Accounts receivable, net $ 136,581 $ 138,301
Inventory, net:
March 31,
(in thousands) 2015 2014
Raw materials $ 24,263 $ 28,071
Work in process 1,653 985
Finished goods 30,760 28,076
Inventory, net $ 56,676 $ 57,132
Property, plant, and equipment, net:
March 31,
(in thousands) 2015 2014
Land $ 16,666 $ 14,170
Buildings and improvements (useful life: 7-30 years) 99,914 94,299
Machinery and equipment (useful life: 2-10 years) 103,344 97,520
Software (useful life: 5-10 years) 43,387 30,368
Construction in progress 8,679 24,927
271,990 261,284
Accumulated depreciation and amortization (132,577)(126,882)
Property, plant, and equipment, net $ 139,413 $ 134,402
Depreciation and amortization expense for fiscal years 2015, 2014, and 2013 was $18.5 million, $15.5 million, and $15.8 million,
respectively. Included in depreciation and amortization expense in fiscal years 2014 and 2013 is an immaterial amount of accelerated
amortization in connection with restructuring activity announced in fiscal year 2013 related to leasehold improvement assets with
no alternative future use.
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