Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Schedule of Cash and Cash Equivalents, Available-for-sale Securities Reconciliation

The Company's cash and cash equivalents, short-term investments, and long-term investments consist of the following:



	December 31, 2013
	Amortized Cost		Unrealized Gains		Unrealized Losses			Fair Value
	(in thousands)
Cash and cash equivalents:
Cash	$	27,488	$	—	$	—		$	27,488
Money market funds	183		—		—			183
Commercial paper	14,697		1		—			14,698
Total	42,368		1		—			42,369
Short-term investments:
Commercial paper	32,784		6		—			32,790
Corporate bonds	16,894		11		—			16,905
Municipal bonds	1,128		—		—			1,128
U.S. government agencies	4,004		—		—			4,004
Total	54,810		17		—			54,827
Long-term investments:
Asset-backed securities	5,497		4		—			5,501
U.S. government agencies	14,835		1		(3		)	14,833
Corporate bonds	15,256		22		(4		)	15,274
Total	35,588		27		(7		)	35,608
Total	132,766		45		(7		)	132,804



	December 31, 2012
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value
	(in thousands)
Cash and cash equivalents:
Cash	$	23,419	$	—	$	—	$	23,419
Money market funds	170		—		—		170
Commercial paper	11,294		2		—		11,296
Total	34,883		2		—		34,885
Short-term investments:
Commercial paper	21,078		2		—		21,080
U.S. government agencies	62,463		4		—		62,467
Total	83,541		6		—		83,547
Total	$	118,424	$	8	$	—	$	118,432

Schedule of Assets Measured on Recurring Basis

The following table sets forth by level within the fair value hierarchy the fair value of the Company's available-for-sale securities measured on a recurring basis:



	December 31, 2013
	Level 1		Level 2		Level 3		Fair Value
	(in thousands)
Commercial paper	$	—	$	47,488	$	—	$	47,488
U.S. government agencies	—		18,837		—		18,837
Municipal bonds	—		1,128		—		1,128
Corporate bonds	—		32,179		—		32,179
Asset-backed securities	—		5,501		—		5,501
Total	$	—	$	105,133	$	—	$	105,133



	December 31, 2012
	Level 1		Level 2		Level 3		Fair Value
	(in thousands)
Commercial paper	$	—	$	32,376	$	—	$	32,376
U.S. government agencies	—		62,467		—		62,467
Total	$	—	$	94,843	$	—	$	94,843

Schedule of Investments Classified by Contractual Maturity

The following summarizes the fair value of securities classified as available-for-sale by contractual maturity:



	December 31, 2013
	Mature within One Year		After One Year through Two Years		Over Two Years		Fair Value
	(in thousands)
Commercial paper	$	47,488	$	—	$	—	$	47,488
U.S. government agencies	4,004		14,833		—		18,837
Municipal bonds	1,128		—		—		1,128
Corporate bonds	16,905		15,274		—		32,179
Asset-backed securities	—		—		5,501		5,501
Total	$	69,525	$	30,107	$	5,501	$	105,133



	December 31, 2012
	Mature within One Year		After One Year through Two Years		Over Two Years		Fair Value
	(in thousands)
Commercial paper	$	32,376	$	—	$	—	$	32,376
U.S. government agencies	62,467		—		—		62,467
Total	$	94,843	$	—	$	—	$	94,843

- Definition

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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