Salesforce.com 2015 Annual Report Download - page 91
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The unrealized loss for each of these fixed rate marketable securities were less than $100,000. The
Company 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, 2015. The Company expects to receive the full principal
and interest on all of these marketable securities.
Fair Value Measurement
All of the Company’s cash equivalents, marketable securities and foreign currency derivative contracts are
classified within Level 1 or Level 2 because the Company’s cash equivalents, marketable securities and foreign
currency derivative contracts are valued using quoted market prices or alternative pricing sources and models
utilizing observable market inputs. The Company’s restricted cash balance of $115.0 million at January 31, 2015
was held in a money market account and is not included in the following table.
The Company uses a three-tier fair value hierarchy, which prioritizes the inputs used in the valuation
methodologies in measuring fair value:
Level 1. Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2. Other inputs that are directly or indirectly observable in the marketplace.
Level 3. Unobservable inputs which are supported by little or no market activity.
The following table presents information about the Company’s assets and liabilities that are measured at fair
value as of January 31, 2015 and indicates the fair value hierarchy of the valuation (in thousands):
Description
Quoted Prices in
Active Markets
for Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balances as of
January 31,
2015
Cash equivalents (1):
Time deposits ................... $ 0 $ 292,487 $ 0 $ 292,487
Money market mutual funds ........ 13,983 0 0 13,983
Marketable securities:
Corporate notes and obligations ..... 0 608,274 0 608,274
U.S. treasury securities ............ 0 73,482 0 73,482
Mortgage backed obligations ....... 0 43,925 0 43,925
Asset backed securities ............ 0 120,137 0 120,137
Municipal securities .............. 0 36,537 0 36,537
Foreign government obligations ..... 0 12,301 0 12,301
U.S. agency obligations ............ 0 19,510 0 19,510
Covered bonds ................... 0 68,001 0 68,001
Foreign currency derivative contracts (2) . . . 0 10,611 0 10,611
Total Assets ......................... $13,983 $1,285,265 $ 0 $1,299,248
Liabilities
Foreign currency derivative contracts (3) . . . $ 0 $ 5,694 $ 0 $ 5,694
Total Liabilities ...................... $ 0 $ 5,694 $ 0 $ 5,694
(1) Included in “cash and cash equivalents” in the accompanying consolidated balance sheet as of January 31,
2015, in addition to $601.6 million of cash.
(2) Included in “prepaid expenses and other current assets” in the accompanying consolidated balance sheet as
of January 31, 2015.
(3) Included in “accounts payable, accrued expenses and other liabilities” in the consolidated balance sheet as
of January 31, 2015.
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