Stamps.com 2014 Annual Report Download - page 78

Download and view the complete annual report

Please find page 78 of the 2014 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 99

  • 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

STAMPS.COM INC. AND SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
On at least a quarterly basis, we evaluate our available for sale securities and record an “other-than-temporary impairment” (“OTTI”) if we
believe their fair value is less than historical cost and it is probable that we will not collect all contractual cash flows. We did not record any
OTTI during 2014, 2013 and 2012 after evaluating a number of factors including, but not limited to:
The following table summarizes our cash, cash equivalents, and investments as of December 31, 2014 and 2013 (in thousands):
F-21
Table of Contents
• How much fair value has declined below amortized cost
• The financial condition of the issuers
• Significant rating agency changes on the issuers
• Our intent and ability to hold the security for a period of time sufficient to allow for any anticipated recovery in fair value
December 31, 2014
Cost or
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Estimated
Fair Value
Cash and cash equivalents:
Cash
$
37,870
—
—
$
37,870
Money market
3,063
—
—
3,063
Cash and cash equivalents
40,933
—
—
40,933
Short
-
term investments:
Corporate bonds and asset backed securities
4,960
23
(1
)
4,982
U.S. government and agency securities
1,498
—
1,500
Short-term investments
6,458
25
(1
)
6,482
Long
-
term investments:
Corporate bonds and asset backed securities
10,178
46
(9
)
10,215
Long-term investments
10,178
46
(9
)
10,215
Cash and cash equivalents and investments
$
57,569
71
(10
)
$
57,630