Our investing activities have consisted of purchases of property, equipment, and other assets and purchases, sales, and maturities of investments. We expect to continue such activities as our business grows. For fiscal 2013, cash used in investing activities was
$151.6 million, as a result of $345.3 millionin purchases of short-term and long-term investments to shift the mix of investments from money market funds to higher yield corporate notes and bonds and U.S. government agency securities, and capital expenditures to purchase property, equipment, and other assets of $22.4 million, partially offset by proceeds from sales and maturities of investments of $216.2 million. Cash used in investing activities for fiscal 2012 and 2011, was $14.6 millionand $13.0 million, respectively, and was primarily the result of capital expenditures to purchase property and equipment, including $7.0 millionfor fiscal 2012 related to purchases of demonstration units for use by our customers in evaluating our products and services and capitalized internally developed software costs related to the implementation of our enterprise resource planning system and $7.3 millionfor fiscal 2011 related to moving our headquarters from Sunnyvale, Californiato Santa Clara, California.
Our financing activities have consisted of proceeds from the sale of our common stock in our IPO proceeds from the exercises of stock options and the employee stock purchase plan. For fiscal 2013, financing activities provided
$25.0 millionin cash, as a result of proceeds from the exercises of stock options and the employee stock purchase plan of $21.0 millionand excess tax benefit from share-based compensation of $6.8 million, partially offset by payments of costs related to our IPO of $2.7 million. - 49 -
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For fiscal 2012, financing activities provided
$219.3 millionin cash as a result of net proceeds to us from our IPO and the exercises of stock options. On July 25, 2012, we completed our IPO, in which 7,130,000 shares of common stock were sold to the public (inclusive of 5,617,000 shares of common stock sold by us). The public offering price of the shares sold in the IPO was $42.00per share. After deducting underwriting discounts and commissions, offering expenses payable by us, and net proceeds received by the selling stockholders, the aggregate net proceeds received by us totaled approximately $215.4 million. For fiscal 2011, financing activities provided $2.6 millionin cash as a result of proceeds from the exercises of stock options.
Contractual Obligations and Commitments
The following summarizes our contractual obligations and commitments as of
July 31, 2013: Payments Due by Period Less Than 1 More Than 5 Total Year 1 - 3 Years 3- 5 Years Years (in thousands) Operating lease obligations(1) (2) $ 108,313 $ 7,728 $ 24,634 $ 23,651 $ 52,300Purchase obligations(3) 19,130 19,130 - - - Total(4) $ 127,443 $ 26,858 $ 24,634 $ 23,651 $ 52,300