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Fair Value Measurement of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Measurement of Assets and Liabilities [Abstract]

Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

				Quoted Prices in						Quoted Prices in
		Balances as of		active markets for		Significant other		Balances as of		active markets for		Significant other
		March 31,		identical Assets		observable inputs		December 31,		identical Assets		observable inputs
Description		2015		(Level 1)		(Level 2)		2014		(Level 1)		(Level 2)
		(In thousands)
Assets
Cash and Cash Equivalents:
Money Market Funds		$                35,520		$                     35,520		$                          —		$                   37,495		$                      37,495		$                          —
Corporate Debt Securities		13,491		—		13,491		13,004		108		12,896
Investments:
Sovereign Debt Securities		44,101		40,606		3,495		49,150		49,150		—
Corporate Debt Securities		227,031		126,985		100,046		238,643		59,919		178,724
Certifcates of deposits		11,316		—		11,316		7,807		—		7,807
Total Financial Assets		$              331,459		$                   203,111		$                 128,348		$                 346,099		$                    146,672		$                 199,427
Liabilities:
Contingent considerations		$                  4,875		$                            —		$                     4,875		$ 4,833		$                             —		$ 4,833
Total Financial Liabilities		$                  4,875		$                            —		$                     4,875		$                     4,833		$                             —		$                     4,833

Fair Value of Financial Assets and Liabilities Measured at Amortized Cost

		Balances as of		Significant other		Balances as of		Significant other
		March 31,		observable inputs		December 31,		observable inputs
		2015		(Level 2)		2014		(Level 2)
		(In thousands)
Assets
Time Deposits		$                55,756		$                     55,756		$                    58,475		$                    58,475
Accounts receivable		54,054		54,054		46,672		46,672
Credit Cards receivable		133,644		133,644		85,162		85,162
Prepaid expenses		6,433		6,433		3,458		3,458
Other assets		35,318		35,318		37,718		37,718
Total Assets		$              285,205		$                   285,205		$                  231,485		$                  231,485
Liabilities
Accounts and funds payable		$                58,160		$                     58,160		$                    58,006		$                    58,006
Funds payable to customers		193,188		193,188		165,034		165,034
Salaries and social security payable		23,755		23,755		18,835		18,835
Tax payable		23,733		23,733		26,013		26,013
Dividends payable		4,548		4,548		7,330		7,330
Loans payable and other financial liabilities		287,745		287,745		283,826		283,826
Other liabilities		4,564		4,564		5,524		5,524
Total Liabilities		$              595,693		$                   595,693		$                  564,568		$                  564,568

Fair Value of Money Market Funds, Short and Long-Term Investments Classified as Available for Sale Securities

		March 31, 2015
		(In thousands)
		Cost		Gross Unrealized Gains		Gross Unrealized Losses (1)		Estimated Fair Value
Cash and cash equivalents
Money Market Funds		$                     35,543		$                      5		$                       (28)		$                          35,520
Corporate Debt Securities		13,495		—		(4)		13,491
Total Cash and cash equivalents		$                     49,038		$                      5		$                       (32)		$                          49,011
Short-term investments
Sovereign Debt Securities		$                          651		$                    —		$                         (1)		$                               650
Corporate Debt Securities		83,884		9		(59)		83,834
Certificates of deposits		7,811		3		(2)		7,812
Total Short-term investments		$                     92,346		$                    12		$                       (62)		$                          92,296
Long-term investments
Sovereign Debt Securities		$                     43,339		$                  115		$                         (3)		$                          43,451
Corporate Debt Securities		142,837		408		(48)		143,197
Certificates of deposits		3,503		1		—		3,504
Total Long-term investments		$                   189,679		$                  524		$                       (51)		$                        190,152
Total		$                   331,063		$                  541		$                     (145)		$                        331,459

		December 31, 2014
		(In thousands)
		Cost		Gross Unrealized Gains		Gross Unrealized Losses (1)		Estimated Fair Value
Cash and cash equivalents
Money Market Funds		$                     37,531		$                      2		$                       (38)		$                          37,495
Corporate Debt Securities		13,009		—		(5)		13,004
Total Cash and cash equivalents		$                     50,540		$                      2		$                       (43)		$                          50,499
Short-term investments
Sovereign Debt Securities		$                       4,726		$                    —		$                         (4)		$                            4,722
Corporate Debt Securities		81,886		—		(75)		81,811
Certificates of deposit		3,802		1		(1)		3,802
Total Short-term investments		$                     90,414		$                      1		$                       (80)		$                          90,335
Long-term investments
Sovereign Debt Securities		$                     44,511		$                    —		$                       (83)		$ 44,428
Corporate Debt Securities		157,205		22		(395)		156,832
Certificates of deposit		4,007		—		(2)		4,005
Total Long-term investments		$ 205,723		$ 22		$ (480)		$ 205,265
Total		$ 346,677		$ 25		$ (603)		$ 346,099

(1) Unrealized losses from securities are primarily attributable to market price movements. Management does not believe any remaining unrealized losses represent other-than-temporary impairments based on the evaluation of available evidence including the credit rating of the investments, as of March 31, 2015 and December 31, 2014.

Estimated Fair Values of Money Market Funds, Short-Term and Long-Term Investments

One year or less		141,307
One year to two years		120,358
Two years to three years		42,660
Three years to four years		15,147
Four years to five years		11,987
More than five years		—
Total		$          331,459

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Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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