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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis include the following as of March 31, 2015 (in thousands):

		Using
		Quoted Prices in Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Fair Value as of March 31, 2015
Cash equivalents:
Money market funds		$	11,450			$	—			$	—			$	11,450
Short-term investments:
Brokered certificates of deposit			—				90				—				90
Long-term investments:
Failed Auction Security			—				—				2,560				2,560
Brokered certificates of deposit			—				342				—				342

Assets measured at fair value on a recurring basis include the following as of December 31, 2014 (in thousands):

		Using
		Quoted Prices in Active Markets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)				Total Fair Value as of December 31, 2014
Cash equivalents:
Money market funds		$	11,207			$	—			$	—			$	11,207
Short-term investments:
Brokered certificates of deposit			—				270				—				270
Long-term investments:
Failed Auction Security			—				—				2,575				2,575
Brokered certificates of deposit			—				427				—				427

Quantitative Information about Level 3 Fair Value Measurements

Quantitative information about Level 3 fair value measurements as of March 31, 2015 are as follows (dollars in thousands):

		Fair Value				Valuation Technique		Unobservable Input		Weighted Average
Failed Auction Security		$	2,560			Discounted cash flow		Cumulative probability of earning the maximum rate until maturity			0.02	%
								Cumulative probability of principal return prior to maturity			94.07	%
								Cumulative probability of default			5.91	%
								Liquidity risk premium			5.00	%
								Recovery rate in default			40.00	%

Change in Estimated Fair Values Calculated for Assets Valued on Recurring Basis Utilizing Level 3 Inputs

The change in the estimated fair values calculated for those assets valued on a recurring basis utilizing Level 3 inputs (i.e., the Failed Auction Security) for the three months ended March 31, 2015 was as follows (in thousands):

Balance at the beginning of the period		$	2,575
Credit gain on available-for-sale securities included in Other income (expense), net			4
Loss included in Other comprehensive income (loss)			(19	)
Balance at the end of the period		$	2,560

X

- Definition

Tabular disclosure of the inputs and valuation techniques used to measure fair value, and a discussion of changes in valuation techniques and related inputs, if any, applied during the period to each separate class of assets, liabilities, and financial instruments classified in shareholders' equity that are measured on a recurring and/or nonrecurring basis.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (bbb)

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

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- 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).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258



Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 2

-Subparagraph (a),(b)

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258

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- Definition

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).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258

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