Stamps.com 2006 Annual Report Download - page 56

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STAMPS.COM INC.
NOTES TO FINANCIAL STATEMENTS
4. Cash, Cash Equivalents and Investments – (continued)
The following table summarizes contractual maturities of our marketable fixed-income securities as of December 31, 2006 (in thousands):
Total restricted cash of approximately $554,000 as of December 31, 2006 and 2005 is related to a letter of credit for a facility leased by the
Company which will expire in February 2010.
5. Accounts Payable and Accrued Expenses
The following table summarizes the Company’
s accounts payable and accrued expenses as of December 31, 2006 and 2006 (in thousands):
6. Allowance for Doubtful Accounts
As of December 31, 2006, and 2005, the allowance for doubtful accounts totaled $8,713, respectively. Increases in the allowance for
doubtful accounts totaled $0 and $2,408 for the years ended December 31, 2006 and 2005, respectively. There were no write-offs against the
allowance for doubtful accounts during the years ended December 31, 2006 and 2005, respectively.
7. Property and Equipment
Property and equipment is summarized as follows (in thousands):
During 2006, 2005 and 2004, depreciation expense was approximately $1.8 million, $1.8 million and $2.0 million, respectively.
F-16
Amortized
Cost
Estimated
Fair Value
Due within one year
$
21,404
$
21,314
Due after one year through three years
32,059
31,910
Asset-backed and agency securities with various maturities
41,397
41,110
$
94,860
$
94,334
2006
2005
Payroll and related accrual
$
2,019
$
1,728
Legal and related accrual
234
488
Deferred rent accrual
293
227
Sales and marketing related accrual
4,298
3,227
Sales tax accrual
556
Other accruals
4,112
2,288
Accounts payable and Accrued expenses
$
11,015
$
8,514
2006
2005
Furniture and equipment
$
1,713
$
1,713
Computers and software
15,237
13,127
Leasehold improvements
1,602
1,283
18,552
16,123
Less accumulated depreciation and amortization
(13,468
)
(11,631
)
Property and equipment, net
$
5,084
$
4,492