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Fair value of financial instruments and marketable securities (Tables)

6 Months Ended

Jun. 30, 2016

Fair value of financial instruments and marketable securities

Schedule of financial assets and liabilities that are required to be measured at fair value on a recurring basis

		June 30, 2016
		Total			Quoted prices in active markets for identical assets (level 1)			Significant other observable inputs (level 2)			Significant unobservable inputs (level 3)
Marketable securities		$	237,235		$	—		$	237,235		$	—
Warrant liability		$	1		$	—		$	—		$	1
Stock appreciation rights liability		$	140		$	—		$	—		$	140

		December 31, 2015
		Total			Quoted prices in active markets for identical assets (level 1)			Significant other observable inputs (level 2)			Significant unobservable inputs (level 3)
Marketable securities		$	280,903		$	—		$	280,903		$	—
Warrant Liability		$	48		$	—		$	—		$	48
Stock appreciation rights liability		$	—		$	—		$	—		$	—

Summary of marketable securities accounted for as available-for-sale securities

		June 30, 2016
		Amortized			Gross Unrealized						Fair
		Cost			Gains			Losses			Value
Commercial paper		$	11,969		$	21		$	—		$	11,990
Corporate debt securities		210,640			274			(26		)	210,888
Government obligations		14,353			4			—			14,357
		$	236,962		$	299		$	(26	)	$	237,235

		December 31, 2015
		Amortized			Gross Unrealized						Fair
		Cost			Gains			Losses			Value
Commercial paper		$	26,877		$	80		$	—		$	26,957
Corporate debt securities		226,959			—			(640		)	226,319
Government obligations		27,656			3			(32		)	27,627
		$	281,492		$	83		$	(672	)	$	280,903

Schedule of marketable securities on the balance sheet

		June 30, 2016
		Less Than 12 Months			More Than 12 Months
Commercial paper		$	11,990		$	—
Corporate debt securities		159,714			51,174
Government obligations		14,357			—
Total Marketable securities		$	186,061		$	51,174

		December 31, 2015
		Less Than 12 Months			More Than 12 Months
Commercial paper		$	26,957		$	—
Corporate debt securities		140,831			85,488
Government obligations		18,994			8,633
Total Marketable securities		$	186,782		$	94,121

Summary of changes in the fair value of the Company's Level 3 valuation for warrant liability and SARs liability

		Level 3 liabilities
		Warrants			SARs
Beginning balance as of December 31, 2015		$	48		$	—
Change in fair value		(47		)	140
Ending balance as of June 30, 2016		$	1		$	140

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability.

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-Publisher FASB
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Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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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