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TABLE OF CONTENTS
STAMPS.COM INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
5. Fair Value Measurements – (continued)
The following table summarizes our financial assets measured at fair value on a recurring basis as of December 31, 2010 and
2009 (in thousands):
Fair Value Measurement at Reporting Date
Using
Description
December 31,
2010
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Cash and cash equivalents $
8,071
$
8,071
$
—
$ —
Available-for-sale debt securities
27,228
—
27,228
—
Total $
35,299
$
8,071
$
27,228
$ —
The fair value of our available-for-sale debt securities included in the Level 2 category is based on the market values
obtained from an independent pricing service that were evaluated using pricing models that vary by asset class and may
incorporate available trade, bid and other market information and price quotes from well established independent pricing vendors
and broker-dealers. There were no individual securities that were transferred between Level 1 and Level 2.
There were no non-financial assets or liabilities that were required to be measured at fair value as of December 31, 2010.
6. Accounts Payable and Accrued Expenses
The following table summarizes our accounts payable and accrued expenses as of December 31, 2010 and 2009 (in
thousands):
Fair Value Measurement at Reporting Date
Using
Description
December 31,
2009
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Cash and cash equivalents $
45,011
$
45,011
$
—
$ —
Available-for-sale debt securities
26,734
—
26,734
—
Total $
71,745
$
45,011
$
26,734
$ —
7. Allowance for Doubtful Accounts
As of December 31, 2010 and 2009, our allowance for doubtful accounts totaled approximately $108,000 and $96,000,
respectively. Increases in our allowance for doubtful accounts totaled approximately $12,000 and $65,000 for 2010 and 2009,
respectively. There were no material write-offs against the allowance for doubtful accounts during 2010 or 2009.
2010
2009
Payroll and related accrual $
2,568
$
2,359
Legal and related accrual
609
615
Deferred rent accrual
—
24
Sales and marketing related accrual
1,772
2,255
Other accruals
4,062
4,330
Accounts payable and Accrued expenses $
9,011
$
9,583