3. Balance Sheet Components

Cash and Cash Equivalents

The following is a summary of cash and cash equivalents (in thousands):

	June 30, 2014		June 30, 2013

Cash	$	91,797	$	60,082
Certificates of deposit		—		12,758
Money market funds		549		473


	$	92,346	$	73,313

Accounts receivable, net

Accounts receivable, net consisted of the following (in thousands):

	June 30, 2014			June 30, 2013

Accounts receivable	$	72,969		$	56,830
Unbilled fees and services		159			788


		73,128			57,618
Less: Allowance for doubtful accounts		(976	)		(2,160	)


Accounts receivable, net	$	72,152		$	55,458

The Company deducted $0.7 million and added $0.8 million, and wrote off $0.5 million and $0.3 million from the allowance for doubtful accounts in fiscal 2014 and 2013, respectively.

Financing receivables

A financing receivable is a contractual right to receive money, on demand or on fixed or determinable dates, that is recognized as an asset in the Company's balance sheet. The Company's financing receivables, consisting of its accounts receivable with contractual maturities of more than one year totaled $2.8 million and $2.9 million at June 30, 2014 and 2013, respectively and are included in Other Assets in the consolidated balance sheets. There was no balance in the allowance for doubtful accounts related to such financing receivables as of June 30, 2014 and June 30, 2013, respectively; revenue is recognized on a cash basis for these receivables.

Inventories

Inventories consisted of the following (in thousands):

	June 30, 2014		June 30, 2013

Raw materials	$	37,003	$	33,721
Work-in-process		17,692		20,564
Finished goods		33,057		27,307


Inventories	$	87,752	$	81,592

Property and Equipment, net

Property and equipment consisted of the following (in thousands):

	June 30, 2014			June 30, 2013

Furniture and fixtures	$	5,351		$	6,506
Computer and office equipment		10,540			9,481
Software		10,736			9,586
Leasehold improvements		18,991			19,199
Machinery and equipment		39,465			37,371
Shared ownership systems		6,265			4,979
Construction in progress		5,877			3,084


		97,225			90,206
Less: Accumulated depreciation		(62,834	)		(55,473	)


Property and equipment, net	$	34,391		$	34,733

Depreciation and amortization expense related to property and equipment for the years ended June 30, 2014, 2013 and 2012 was $12.2 million, $15.2 million and $16.4 million, respectively.