Salesforce.com 2007 Annual Report Download - page 71

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Table of Contents
salesforce.com, inc.
Notes to Consolidated Financial Statements—(Continued)
2. Balance Sheet Accounts
Marketable Securities
At January 31, 2008, marketable securities consisted of the following (in thousands):
Amortized
Cost
Unrealized
Gains
Unrealized
Losses Fair Value
Corporate notes and obligations $ 276,866 $ 2,328 $ (414) $ 278,780
U.S. treasury securities 9,483 53 — 9,536
U.S. agency obligations 101,094 1,296 (1) 102,389
$ 387,443 $ 3,677 $ (415) $ 390,705
At January 31, 2007, marketable securities consisted of the following (in thousands):
Amortized
Cost
Unrealized
Gains
Unrealized
Losses Fair Value
Corporate notes and obligations $ 156,826 $ 9 $ (402) $ 156,433
Municipal bonds 1,974 — (17) 1,957
U.S. treasury securities 30,805 — (215) 30,590
U.S. agency obligations 137,107 5 (188) 136,924
$ 326,712 $ 14 $ (822) $ 325,904
As of January 31,
2008 2007
Recorded as follows (in thousands):
Short-term (due in one year or less) $ 171,748 $ 165,816
Long-term (due between one and 3 years) 218,957 160,088
$ 390,705 $ 325,904
As of January 31, 2008, the following investments were in an unrealized loss position (in thousands):
Less than 12 Months 12 Months or Greater Total
Fair Value
Unrealized
Losses Fair Value
Unrealized
Losses Fair Value
Unrealized
Losses
Corporate notes and obligations $ 42,171 $ (414) — — $ 42,171 $ (414)
U.S. agency obligations 3,949 (1) — — 3,949 (1)
$ 46,120 $ (415) — — $ 46,120 $ (415)
The unrealized loss for each of these fixed rate investments ranged from less than $1,000 to $121,000. The Company has the ability and intent to hold
these investments to maturity and does not believe any of the unrealized losses represent an other-than-temporary impairment based on its evaluation of
available evidence as of January 31, 2008. The Company expects to receive the full principal and interest on all of these investment securities.
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