Salesforce.com 2007 Annual Report Download - page 38

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Table of Contents
(1) Cost of revenues and operating expenses include stock-based expenses, consisting of:
Fiscal Year Ended January 31,
2008 2007 2006 2005 2004
Cost of revenues $ 7,926 $ 5,522 $ 575 $ 634 $ 655
Research and development 6,336 4,523 332 282 462
Marketing and sales 25,423 18,392 1,325 1,296 2,029
General and administrative 15,522 10,768 1,216 1,402 1,213
Total stock-based expenses $ 55,207 $ 39,205 $ 3,448 $ 3,614 $ 4,359
Effective February 1, 2006, the Company adopted the fair value recognition provisions of Statement of Financial Accounting Standards No. 123
(revised 2004), Share-Based Payment, or SFAS 123R, using the modified prospective transition method and therefore has not restated results for prior
periods.
(2) Net income during fiscal 2006 included a $6.8 million income tax benefit which was recorded during the third quarter.
As of January 31,
2008 2007 2006 2005 2004
Consolidated Balance Sheet Data:
Cash, cash equivalents and marketable securities (3) $ 669,800 $ 412,512 $ 296,792 $ 205,938 $ 35,812
Working capital 134,894 45,905 68,592 47,044 4,140
Total assets 1,089,593 664,832 434,749 280,499 87,511
Long-term obligations excluding deferred revenue 10,601 1,408 1,339 2,317 1,830
Convertible preferred stock — — — — 61,137
Accumulated deficit (17,586) (35,633) (36,114) (64,588) (71,934)
Total stockholders' (deficit) equity 452,059 281,791 196,371 145,131 (46,237)
(3) Cash, cash equivalents and marketable securities includes net proceeds of $113.8 million from our sale of 11,500,000 shares of common stock in June
2004 from our initial public offering.
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