INFOBLOX INC | 2012 | FY |

The allowances for doubtful accounts and sales returns consist of the following activity (in thousands):



	Balance at Beginning of Year		Charged to (Reversed From) Cost and Expenses			Recoveries (Deductions), Net			Balance at End of Year
Year Ended July 31, 2010
Allowance for doubtful accounts	$	384	$	49		$	(71	)	$	362
Sales returns reserve	431		726			(451		)	706
Total allowance for doubtful accounts and sales returns reserve	$	815	$	775		$	(522	)	$	1,068
Year Ended July 31, 2011
Allowance for doubtful accounts	$	362	$	(47	)	$	(49	)	$	266
Sales returns reserve	706		(21		)	(412		)	273
Total allowance for doubtful accounts and sales returns reserve	$	1,068	$	(68	)	$	(461	)	$	539
Year Ended July 31, 2012
Allowance for doubtful accounts	$	266	$	167		$	(76	)	$	357
Sales returns reserve	273		118			(204		)	187
Total allowance for doubtful accounts and sales returns reserve	$	539	$	285		$	(280	)	$	544

Prepaid expenses and other current assets consist of the following (in thousands):



	As of July 31,
	2011		2012
Prepaid expenses	$	2,339	$	3,088
Other current assets	1,493		1,071
Total prepaid expenses and other current assets	$	3,832	$	4,159

Deferred revenue, net consists of the following (in thousands):



	As of July 31,
	2011		2012
Deferred revenue:
Products and licenses	$	10,904	$	10,044
Services	52,750		68,256
Total deferred revenue	63,654		78,300
Deferred cost of revenue:
Products and licenses	1,473		1,445
Services	182		188
Total deferred cost of revenue	1,655		1,633
Total deferred revenue, net	61,999		76,667
Less current portion	44,094		56,184
Non-current portion	$	17,905	$	20,483

Property and equipment, net consists of the following (in thousands):



	As of July 31,
	2011			2012
Computer equipment and software	$	9,427		$	13,528
Furniture and fixtures	841			963
Leasehold improvements	1,809			1,835
	12,077			16,326
Less accumulated depreciation and amortization	(6,990		)	(9,828		)
Total property and equipment, net	$	5,087		$	6,498

Accounts payable and accrued liabilities consist of the following (in thousands):



	As of July 31,
	2011		2012
Accounts payable	$	4,368	$	5,851
Accrued expenses	1,937		2,341
Accrued travel expenses	759		928
Accrued consulting and professional service fees	1,151		690
Other	1,284		1,797
Total other current liabilities	$	9,499	$	11,607

Inventory consists of the following (in thousands):