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Fair Value Measurement
 12 Months Ended
Dec. 31, 2015
Fair Value Measurement

18. FAIR VALUE MEASUREMENT

The following section describes the valuation methodologies the Company uses to measure assets and liabilities at fair value.

The Company uses quoted prices in active markets for identical assets to determine fair value where applicable. This pricing methodology applies to Level 1 investments such as bond funds. For the years ended December 31, 2014 and 2015, none of the Company’s assets measured on a recurring basis was determined by using significant unobservable inputs.

The following table presents our assets measured at fair value on a recurring basis as of December 31, 2014 and 2015:

December 31, 2014

 

     Level 1      Level 2      Level 3      Total  
     US$      US$      US$      US$  

Assets

            

Short-term investments — trading bond funds

      703         —         —         703   

December 31, 2015

 

     Level 1      Level 2      Level 3      Total  
     US$      US$      US$      US$  

Assets

            

Short-term investments — trading bond funds

      681         —         —         681   

The carrying amount of the held-to-maturity investments purchased in July 2015 that will be matured in July 2016 approximates their fair value due to the short-term maturity of the investments.

Those assets required to be measured at fair value on a nonrecurring basis were nil during the years ended December 31, 2013, 2014 and 2015 and please refer to Note 2, “Summary of Significant Accounting Policy” and Note 10, “Goodwill and Acquired Intangible Assets” for the significant assumption were used.

The Company reviews the carrying values of financial assets carried at cost when impairment indicators are present. The fair values of assets without quoted market price are determined based on management judgment with the best available information. Any impairment charge determined is based on the difference between the Company’s carrying value and the proportionate ownership of the investee’s net assets at year end.