Stamps.com 2007 Annual Report Download - page 51

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U.S. Government and agency
securities
29,571
—
(
110
)
29,461
Long-term investments
72,902
—
(
436
)
72,466
Cash and equivalents, restricted cash and
investments
$
106,600
$
—
$ (
526
)
$
106,074
F-49
TABLE OF CONTENTS
STAMPS.COM INC.
NOTES TO FINANCIAL STATEMENTS
4. Cash, Cash Equivalents and Investments – (continued)
The following table summarizes contractual maturities of our marketable fixed-income securities as of December 31, 2007
(in thousands):
Total restricted cash of approximately $554,000 as of December 31, 2007 and 2006 is related to a letter of credit for a facility
leased by us which will expire in February 2010.
5. Accounts Payable and Accrued Expenses
The following table summarizes our accounts payable and accrued expenses as of December 31, 2007 and 2006 (in
thousands):
Amortized Cost
Estimated
Fair Value
Due within one year $
22,122
$
22,084
Due after one year through five years
23,080
23,067
Due after five years through ten years
2,049
2,005
$
47,251
$
47,156
6. Allowance for Doubtful Accounts
As of December 31, 2007 and 2006, our allowance for doubtful accounts totaled $15,562 and $8,713, respectively. Increases
in our allowance for doubtful accounts totaled $6,849 and $0 for 2007 and 2006, respectively. There were no write-offs against
the allowance for doubtful accounts during 2007 and 2006.
7. Property and Equipment
Property and equipment is summarized as follows (in thousands):
2007
2006
Payroll and related accrual $
1,879
$
2,019
Legal and related accrual
405
234
Deferred rent accrual
256
293
Sales and marketing related accrual
3,088
4,298
Other accruals
4,307
3,615
Accounts payable and Accrued expenses $
9,935
$
10,459
2007
2006
Furniture and equipment
$
1,713
$
1,713
Computers and software
15,799
15,237
Leasehold improvements
1,708
1,602