Salesforce.com 2014 Annual Report Download - page 99
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Interest Expense
The following table sets forth total interest expense recognized related to the Notes and the Term Loan prior
to capitalization of interest (in thousands):
Fiscal Year Ended January 31,
2014 2013 2012
Contractual interest expense ................... $10,195 $ 4,313 $ 4,312
Amortization of debt issuance costs .............. 4,470 1,324 1,324
Amortization of debt discount .................. 46,942 25,131 23,720
$61,607 $30,768 $29,356
6. Other Balance Sheet Accounts
Prepaid Expenses and Other Current Assets
Prepaid expenses and other current assets consisted of the following (in thousands):
As of January 31,
2014 2013
Deferred income taxes, net ........................ $ 49,279 $ 7,321
Prepaid income taxes ............................. 23,571 21,180
Customer contract asset ........................... 77,368 0
Prepaid expenses and other current assets ............ 158,962 104,813
$309,180 $133,314
Customer contract asset reflects future billings of amounts that are contractually committed by
ExactTarget’s existing customers as of the acquisition date that will be billed in the next twelve months. As the
Company bills these customers this balance will reduce and accounts receivable will increase.
Capitalized Software, net
Capitalized software consisted of the following (in thousands):
As of January 31,
2014 2013
Capitalized internal-use software development costs, net
of accumulated amortization of $101,687 and $72,448,
respectively .................................. $ 72,915 $ 59,647
Acquired developed technology, net of accumulated
amortization of $294,628 and $179,906,
respectively .................................. 409,002 147,676
$481,917 $207,323
Capitalized internal-use software amortization expense totaled $29.2 million, $22.1 million and
$15.8 million for fiscal 2014, 2013 and 2012, respectively. Acquired developed technology amortization expense
totaled $114.7 million, $80.0 million and $62.1 million for fiscal 2014, 2013 and 2012, respectively.
The Company capitalized $3.5 million, $3.4 million and $2.4 million of stock-based expenses related to
capitalized internal-use software development and deferred professional services during fiscal 2014, 2013 and
2012, respectively.
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