FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2012

Financial Assets Measured at Fair Value on Recurring Basis

The Company’s financial assets measured at fair value on a recurring basis, excluding accrued interest components, consisted of the following types of instruments as of the following dates:


	December 31, 2011
	Fair value measurements using input type
	Level 1		Level 2			Level 3		Total
Cash equivalents:
Money market funds	$	303,780	$	—		$	—	$	303,780
Marketable securities:
Government and corporate debentures - fixed interest rate		—		1,624,096			—		1,624,096
Government-sponsored enterprises		—		337,471			—		337,471
Government and corporate debentures - floating interest rate		—		195,759			—		195,759
Auction rate securities		—		—			6,078		6,078
Foreign currency derivative contracts		—		(351	)		—		(351	)

Total financial assets	$	303,780	$	2,156,975		$	6,078	$	2,466,833


	December 31, 2012
	Fair value measurements using input type
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	169,894	$	—	$	—	$	169,894
Marketable securities:
Government and corporate debentures - fixed interest rate		—		1,941,781		—		1,941,781
Government-sponsored enterprises		—		444,879		—		444,879
Government and corporate debentures - floating interest rate		—		98,148		—		98,148
Auction rate securities		—		—		2,697		2,697
Foreign currency derivative contracts		—		1,469		—		1,469

Total financial assets	$	169,894	$	2,486,277	$	2,697	$	2,658,868

Fair Value Measurements Using Significant Unobservable Inputs

The following table presents the changes in Level 3 instruments measured on a recurring basis for the year ended December 31, 2012:


	Auction rate securities
Balance at January 1, 2011	$	7,990
Recognized gains in income		2,017
Securities sold during 2011		(3,929	)

Balance at December 31, 2011		6,078
Securities sold during 2012		(3,381	)

Balance at December 31, 2012	$	2,697

- Definition

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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