v2.4.1.9

Fair Value of Financial Instruments | 12 Months Ended
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Dec. 31, 2014
Fair Value Disclosures [Abstract] |
Fair Value of Financial Instruments |
NOTE 2. | Fair Value of Financial Instruments
The Company's cash and cash equivalents, short-term investments, and long-term investments consist of the following:
|  | December 31, 2014
|  | Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
|  | (in thousands)
Cash and cash equivalents: |  |  |  |  |  |  |  |
Cash |  | $ | 36,024 |  |  | $ | — |  |  | $ | — |  |  | $ | 36,024 |
Money market funds |  | 39,180 |  |  | — |  |  | — |  |  | 39,180 |
U.S. government agencies |  | 300 |  |  | — |  |  | — |  |  | 300 |
Commercial paper |  | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
Total |  | 76,504 |  |  | — |  |  | — |  |  | 76,504 |
Short-term investments: |  |  |  |  |  |  |  |
Commercial paper |  | 4,998 |  |  | 1 |  |  | — |  |  | 4,999 |
Corporate bonds |  | 12,438 |  |  | 6 |  |  | (6 | ) |  | 12,438 |
U.S. government agencies |  | 33,280 |  |  | 3 |  |  | (6 | ) |  | 33,277 |
Total |  | 50,716 |  |  | 10 |  |  | (12 | ) |  | 50,714 |
Long-term investments: |  |  |  |  |  |  |  |
Asset-backed securities |  | 16,092 |  |  | 5 |  |  | (3 | ) |  | 16,094 |
U.S. government agencies |  | 20,243 |  |  | 22 |  |  | (10 | ) |  | 20,255 |
Corporate bonds |  | 3,101 |  |  | — |  |  | (2 | ) |  | 3,099 |
Total |  | 39,436 |  |  | 27 |  |  | (15 | ) |  | 39,448 |
Total |  | $ | 166,656 |  |  | $ | 37 |  |  | $ | (27 | ) |  | $ | 166,666 |
|  | 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 |
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, excluding cash and money market funds:
|  | December 31, 2014
|  | Level 1 |  | Level 2 |  | Level 3 |  | Fair Value
|  | (in thousands)
Commercial paper |  | $ | — |  |  | $ | 5,999 |  |  | $ | — |  |  | $ | 5,999 |
U.S. government agencies |  | — |  |  | 53,832 |  |  | — |  |  | 53,832 |
Corporate bonds |  | — |  |  | 15,537 |  |  | — |  |  | 15,537 |
Asset-backed securities |  | — |  |  | 16,094 |  |  | — |  |  | 16,094 |
Total |  | $ | — |  |  | $ | 91,462 |  |  | $ | — |  |  | $ | 91,462 |
|  | 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 |
The following summarizes the fair value of securities classified as available-for-sale by contractual maturity:
|  | December 31, 2014
|  | Mature within One Year |  | After One Year through Two Years |  | Over Two Years |  | Fair Value
|  | (in thousands)
Commercial paper |  | $ | 5,999 |  |  | $ | — |  |  | $ | — |  |  | $ | 5,999 |
U.S. government agencies |  | 33,577 |  |  | 20,255 |  |  | — |  |  | 53,832 |
Corporate bonds |  | 12,438 |  |  | 3,099 |  |  | — |  |  | 15,537 |
Asset-backed securities |  | — |  |  | 7,327 |  |  | 8,767 |  |  | 16,094 |
Total |  | $ | 52,014 |  |  | $ | 30,681 |  |  | $ | 8,767 |  |  | $ | 91,462 |
|  | 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 |
At December 31, 2014 and 2013, derivative financial instruments, consisting of foreign currency forward contracts, were valued at $0 as the contracts were entered into on the last day of the respective reporting periods. These instruments were valued using Level 2 inputs. There were no transfers between Level 1, Level 2 or Level 3 of the fair value hierarchy, as determined at the end of each reporting period.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13537-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=28364263&loc=d3e13504-108611 + Details
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