Salesforce.com 2015 Annual Report Download - page 57
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Loss from operations.
Fiscal Year Ended
January 31, Variance
Dollars(in thousands) 2015 2014
Loss from operations ......................... $(145,633) $(286,074) $140,441
Percent of total revenues ...................... (3)% (7)%
Loss from operations for fiscal 2015 was $145.6 million and included $564.8 million of stock-based
expenses and $155.0 million of amortization of purchased intangibles. During the same period a year ago, loss
from operations was $286.1 million and included $503.3 million of stock-based expenses and $146.5 million of
amortization of purchased intangibles.
Investment income.
Fiscal Year Ended
January 31, Variance
Dollars(in thousands) 2015 2014
Investment income ............................... $10,038 $10,218 $(180)
Investment income consists of income on our cash and marketable securities balances. Investment income
was $10.0 million for fiscal 2015 and was $10.2 million during the same period a year ago.
Interest expense.
Fiscal Year Ended
January 31, Variance
Dollars(in thousands) 2015 2014
Interest expense ................................ $(73,237) $(77,211) $3,974
Percent of total revenues ......................... (1)% (2)%
Interest expense consists of interest on our convertible senior notes, capital leases, term loan and revolving
credit facility. Interest expense, net of interest costs capitalized, was $73.2 million for fiscal 2015 and was $77.2
million during the same period a year ago. The decrease was primarily due to the reduced principal balance on
our 0.75% convertible senior notes as a result of early note conversions during fiscal 2015. These notes fully
matured on January 15, 2015.
Gain on sales of land and building improvements
During fiscal 2015, we sold two separate portions of our undeveloped real estate, including a portion of our
perpetual parking rights, in San Francisco, California. We recognized a gain of $15.6 million during fiscal 2015,
net of closing costs, as a result of this activity.
Other expense.
Fiscal Year Ended
January 31, Variance
Dollars(in thousands) 2015 2014
Other expense .................................. $(19,878) $(4,868) $(15,010)
Other expense primarily consists of non-operating costs such as foreign currency transaction gains and
losses, costs associated with real estate transactions and losses on derecognition of debt. The increase in other
expense for fiscal 2015 was primarily due to losses totaling $10.3 million related to the extinguishment of the
0.75% Senior Notes converted by noteholders.
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