Stamps.com 2010 Annual Report Download - page 75

Download and view the complete annual report

Please find page 75 of the 2010 Stamps.com annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 100

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72
  • 73
  • 74
  • 75
  • 76
  • 77
  • 78
  • 79
  • 80
  • 81
  • 82
  • 83
  • 84
  • 85
  • 86
  • 87
  • 88
  • 89
  • 90
  • 91
  • 92
  • 93
  • 94
  • 95
  • 96
  • 97
  • 98
  • 99
  • 100

TABLE OF CONTENTS
STAMPS.COM INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
4. Cash, Cash Equivalents and Investments – (continued)
Restricted cash of $554,000 related to a letter of credit for our facility was release in 2010 as a result of our amended lease
agreement.
The following table summarizes contractual maturities of our marketable fixed-income securities as of December 31, 2010
(in thousands):
December 31, 2009
Cost or
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Cash and cash equivalents:
Cash
$
9,132
—
—
$
9,132
Money market
35,879
—
—
35,879
Cash and cash equivalents
45,011
—
—
45,011
Restricted cash:
Corporate notes and bonds
554
—
—
554
Restricted cash
554
—
—
554
Short-term investments:
Corporate notes and bonds
2,221
17
(14
)
2,224
Short-term investments
2,221
17
(14
)
2,224
Long-term investments:
Corporate bonds and asset backed
securities
24,165
250
(459
)
23,956
Long-term investments
24,165
250
(459
)
23,956
Cash and equivalents, restricted cash and
investments
$
71,951
267
(473
) $
71,745
5. Fair Value Measurements
Financial assets measured at fair value on a recurring basis are classified in one of the three following categories, which are
described below:
Amortized
Cost
Estimated
Fair Value
Due within one year
$
12,162
$
12,291
Due after one year through five years
13,516
13,821
Due after five years through ten years
1,127
1,116
Total
$
26,805
$
27,228
Level 1
—
Valuations based on unadjusted quoted prices for identical assets in an active market.
Level 2
—
Valuations based on quoted prices in markets where trading occurs infrequently or whose values are based on
quoted prices of instruments with similar attributes in active markets.
Level 3
—
Valuations based on inputs that are unobservable and involve management judgment and our own assumptions
about market participants and pricing.