Pandora 2012 Annual Report Download - page 86
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Table of Contents
Pandora Media, Inc.
Notes to Consolidated Financial Statements - Continued
The unrealized losses on our available-for-sale securities were primarily a result of unfavorable changes in interest rates subsequent to the initial
purchase of these securities. As of January 31, 2012, the Company owned 13 securities that were in an unrealized loss position. The Company does not intend
nor expect to need to sell these securities before recovering the associated unrealized losses. It expects to recover the full carrying value of these securities. As
a result, no portion of the unrealized losses at January 31, 2012 is deemed to be other-than-temporary and the unrealized losses are not deemed to be credit
losses. No available-for-sale securities have been in an unrealized loss position for 12 months or more. When evaluating the investments for other-than-
temporary impairment, the Company reviews factors such as the length of time and extent to which fair value has been below cost basis, the financial
condition of the issuer and any changes thereto, and the Company's intent to sell, or whether it is more likely than not it will be required to sell, the investment
before recovery of the investment's amortized cost basis. During the fiscal year ended January 31, 2012, the Company did not recognize any impairment
charges.
Accounts Receivable
Accounts receivable, net consisted of the following:
As of January 31,
2011 2012
(in thousands)
Accounts receivable $ 42,715 $ 67,328
Allowance for doubtful accounts (503) (590)
Accounts receivable, net $ 42,212 $ 66,738
Allowance for Doubtful Accounts
Balance at
Beginning of
Fiscal Year
Charged to
Operations
Write-offs,
net of
recoveries
Balance at
End of
Fiscal Year
(in thousands)
For fiscal year ended January 31, 2010 $19 $ 166 $ (149) $ 36
For fiscal year ended January 31, 2011 36 485 (18) 503
For fiscal year ended January 31, 2012 503 492 (405) 590
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