Salesforce.com 2008 Annual Report Download - page 57

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Table of Contents
that measures market value changes when changes in interest rates occur. Fluctuations in the value of our investment securities caused by a change in interest
rates (gains or losses on the carrying value) are recorded in other comprehensive income, and are realized only if we sell the underlying securities.
As previously discussed in "Management's Discussion and Analysis of Financial Condition and Results of Operations—Liquidity and Capital
Resources," we have an investment in The Reserve Fund, a money market mutual fund. While we believe we have the rights to the recovery of our entire
investment, we cannot predict the ultimate amount that we will receive.
At January 31, 2008, we had cash, cash equivalents and marketable securities totaling $669.8 million. The fixed-income portfolio was also subject to
interest rate risk. Changes in interest rates of 100-basis points would have resulted in market value changes of $3.2 million.
54