TiVo 2013 Annual Report Download - page 85
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Table of Contents
TiVo's cash equivalents held in money market funds, TiVo's available-for-sale securities and the trading securities are measured at fair
value using Level 1 inputs.
The Company uses inputs such as broker/dealer quotes, and other similar data, which are obtained from quoted market prices,
independent pricing vendors, or other sources, to determine the ultimate fair value of these assets and liabilities. The Company uses such
pricing data as the primary input to make its assessments and determinations as to the ultimate valuation of its investment portfolio and has
not made, during the periods presented, any material adjustments to such inputs. The Company is ultimately responsible for the financial
statements and underlying estimates.
As of January 31, 2014, TiVo had no Level 3 instruments.
The Company did not have any transfers between Level 1, Level 2, and Level 3 fair value measurements during the periods presented
as there were no changes in the composition of Level 1, 2, or 3 securities.
TiVo also has a direct investment in a privately-held company accounted for under the cost method, which is periodically assessed for
other-than-temporary impairment. If the Company determines that an other-than-temporary impairment has occurred, TiVo will write-down
the investment to its fair value. The fair value of a cost method investment is not evaluated if there are no identified events or changes in
circumstances that may have a significant adverse effect on the fair value of the investment. However, if such significant adverse events
were identified, the Company would estimate the fair value of its cost method investment considering available information at the time of the
event, such as pricing in recent rounds of financing, current cash position, earnings and cash flow forecasts, recent operational performance,
and any other readily available data. The carrying amount of the Company's cost method investment was $250,000 as of January 31, 2014.
No events or circumstances indicating a potential impairment were identified as of January 31, 2014.
Property and equipment, net consists of the following:
Furniture and fixtures 4,455 4,428
Computer and office equipment 20,662 21,639
Lab equipment 4,652 3,747
Leasehold improvements 9,792 9,697
Capitalized internal use software 23,945 21,801
Total property and equipment 63,506 61,312
Less: accumulated depreciation and amortization (52,819)(51,012)
Property and equipment, net 10,687 10,300
Depreciation and amortization expense for property and equipment for the fiscal years ended January 31, 2014, 2013, and 2012 was
$5.5 million, $5.8 million, and $6.1 million, respectively. Additionally, the Company recognized non-cash impairment charges of $4.8
million in the three and twelve months ended January 31, 2014 of which $296,000 was related to capitalized internal use software
associated with assets acquired in its acquisition of TRA.
Developed technology and intangible assets, net consists of the following:
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