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BALANCE SHEET COMPONENTS | 9 Months Ended
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Apr. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
BALANCE SHEET COMPONENTS | BALANCE SHEET COMPONENTS Short-Term Investments The amortized cost of our short-term investments approximates their fair value. As of July 31, 2018 and April 30, 2019, unrealized gains and losses from our short-term investments were not material. As of July 31, 2018 and April 30, 2019, unrealized losses from securities that were in an unrealized loss position for more than 12 months were not material. Unrealized losses related to our short-term investments are due to interest rate fluctuations, as opposed to credit quality. In addition, unless we need cash to support our current operations, we do not intend to sell and it is not likely that we would be required to sell these investments before recovery of their amortized cost basis, which may be at maturity. As a result, at July 31, 2018 and April 30, 2019, there were no other-than-temporary impairments for these investments. The following table summarizes the estimated fair value of our investments in marketable debt securities by their contractual maturity dates:
| As of April 30, 2019
| (in thousands)
Due within one year | $ | 373,305 |
Due in one to two years | 122,328 |
Total | $ | 495,633 |
Property and Equipment, Net Property and equipment, net consists of the following:
| Estimated Useful Life |  | As of
|  | July 31, 2018 |  | April 30, 2019
| (in months) |  | (in thousands)
Computer, production, engineering and other equipment | 36 |  | $ | 131,805 |  |  | $ | 187,380 |
Demonstration units | 12 |  | 53,547 |  |  | 59,254 |
Leasehold improvements | (1) |  | 19,916 |  |  | 42,862 |
Furniture and fixtures | 60 |  | 7,636 |  |  | 13,051 |
Total property and equipment, gross |  |  | 212,904 |  |  | 302,547 |
Less: accumulated depreciation |  |  | (127,793 | ) |  | (167,985 | )
Total property and equipment, net |  |  | $ | 85,111 |  |  | $ | 134,562 |
(1) | Leasehold improvements are amortized over the shorter of the estimated useful lives of the improvements or the remaining lease term.
Depreciation expense related to our property and equipment was $11.3 million and $31.9 million for the three and nine months ended April 30, 2018 and $16.4 million and $43.3 million for the three and nine months ended April 30, 2019, respectively. Goodwill and Intangible Assets, Net The changes in the carrying value of goodwill during the nine months ended April 30, 2019 were as follows:
| Carrying Amount
| (in thousands)
Balance as of July 31, 2018 | $ | 87,759 |
Acquired in Frame Acquisition | 97,328 |
Other | 93 |
Balance as of April 30, 2019 | $ | 185,180 |
Intangible assets, net consists of the following:
| As of
| July 31, 2018 |  | April 30, 2019
| (in thousands)
Developed technology | $ | 47,500 |  |  | $ | 79,300 |
Customer relationships | 6,650 |  |  | 8,860 |
Trade name | — |  |  | 4,170 |
Total intangible assets, gross | 54,150 |  |  | 92,330 |
Less: |  |  |
Accumulated amortization of developed technology | (6,956 | ) |  | (17,515 | )
Accumulated amortization of customer relationships | (1,828 | ) |  | (3,002 | )
Accumulated amortization of trade name | — |  |  | (695 | )
Total accumulated amortization | (8,784 | ) |  | (21,212 | )
Total intangible assets, net | $ | 45,366 |  |  | $ | 71,118 |
Amortization expense related to our intangible assets is being recognized in the condensed consolidated statements of operations within product cost of revenue for developed technology and sales and marketing expense for customer relationships and trade name. The estimated future amortization expense of our intangible assets is as follows:
Fiscal Year Ending July 31: | Amount
| (in thousands)
2019 (remaining three months) | $ | 4,345 |
2020 | 17,380 |
2021 | 17,380 |
2022 | 16,183 |
2023 | 10,856 |
Thereafter | 4,974 |
Total | $ | 71,118 |
Other Assets—Non-Current Other assets—non-current consists of the following:
| As of
| July 31, 2018 |  | April 30, 2019
| (in thousands)
Other tax assets—non-current | $ | 30,927 |  |  | $ | — |
Deferred tax assets—non-current | 2,860 |  |  | 3,064 |
Other | 4,068 |  |  | 9,756 |
Total other assets—non-current | $ | 37,855 |  |  | $ | 12,820 |
The decrease in other tax assets—non-current from July 31, 2018 to April 30, 2019 was due primarily to the reclassification of an $18.0 million corporate income tax receivable to prepaid expenses and other current assets, as the refund is expected to be received within the next 12 months, as well as the reversal of an uncertain tax position resulting from a change in tax election during the third quarter of fiscal 2019. Accrued Compensation and Benefits Accrued compensation and benefits consists of the following:
| As of
| July 31, 2018 |  | April 30, 2019
| (in thousands)
Accrued commissions | $ | 21,660 |  |  | $ | 23,881 |
Accrued vacation | 10,548 |  |  | 14,963 |
Contributions to ESPP withheld | 21,931 |  |  | 8,901 |
Accrued bonus | 12,129 |  |  | 8,110 |
Payroll taxes payable | 9,563 |  |  | 7,382 |
Other | 9,567 |  |  | 11,795 |
Total accrued compensation and benefits | $ | 85,398 |  |  | $ | 75,032 |
Accrued Expenses and Other Current Liabilities Accrued expenses and other current liabilities consists of the following:
| As of
| July 31, 2018 |  | April 30, 2019
| (in thousands)
Accrued professional services | $ | 5,838 |  |  | $ | 2,593 |
Income taxes payable | 20,863 |  |  | 2,901 |
Other | 4,981 |  |  | 14,525 |
Total accrued expenses and other current liabilities | $ | 31,682 |  |  | $ | 20,019 |
The decrease in income taxes payable from July 31, 2018 to April 30, 2019 was due primarily to an $18.0 million estimated corporate income tax payment made during the second quarter of fiscal 2019.

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- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
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