Salesforce.com 2015 Annual Report Download - page 22

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• the attrition rates for our services;
• the amount and timing of operating costs and capital expenditures related to the operations and
expansion of our business;
• changes in deferred revenue and unbilled deferred revenue balances, which are not reflected in the
balance sheet, due to seasonality, the compounding effects of renewals, invoice duration, size, invoice
timing and new business linearity between quarters and within a quarter;
• changes in foreign currency exchange rates;
• the number of new employees;
• changes in our pricing policies and terms of contracts, whether initiated by us or as a result of
competition;
• the cost, timing and management effort for the introduction of new features to our services;
• the costs associated with acquiring new businesses and technologies and the follow-on costs of
integration and consolidating the results of acquired businesses;
• the rate of expansion and productivity of our sales force;
• the length of the sales cycle for our services;
• new product and service introductions by our competitors;
• our success in selling our services to large enterprises;
• variations in the revenue mix of editions of our services;
• technical difficulties or interruptions in our services;
• expenses related to our real estate, our office leases and our data center capacity and expansion;
• changes in interest rates and our mix of investments, which would impact the return on our investments
in cash and marketable securities;
• conditions, particularly sudden changes, in the financial markets, which have impacted and may
continue to impact the value of and liquidity of our investment portfolio;
• income tax effects;
• our ability to realize benefits from strategic partnerships, acquisition or investments;
• expenses related to significant, unusual or discrete events, which are recorded in the period in which
the events occur;
• general economic conditions, which may adversely affect either our customers’ ability or willingness to
purchase additional subscriptions or upgrade their services, or delay a prospective customer’s
purchasing decision, reduce the value of new subscription contracts, or affect attrition rates;
• timing of additional investments in our enterprise cloud computing application and platform services
and in our consulting services;
• regulatory compliance costs;
• the timing of customer payments and payment defaults by customers;
• extraordinary expenses such as litigation or other dispute-related settlement payments;
• the impact of new accounting pronouncements;
• equity issuances, including as consideration in acquisitions or due to the conversion of our outstanding
convertible notes at the election of the note holders;
16