Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Schedule of assets and liabilities measured on a recurring basis, at fair value

The major categories of assets and liabilities measured on a recurring basis, at fair value, as of March 31, 2014 and December 31, 2013, are as follows (in thousands):

	March 31, 2014
	Level 1		Level 2		Level 3		Total
U.S. treasuries	$	130,914	$	—	$	—	$	130,914
Corporate debt	—		73,473		—		73,473
Government agency securities	—		59,015		—		59,015
Commercial paper	—		7,850		—		7,850
Derivative instrument	—		573		—		573

	December 31, 2013
	Level 1		Level 2		Level 3			Total
U.S. treasuries	$	130,977	$	—	$	—		$	130,977
Corporate debt	—		77,601		—			77,601
Government agency securities	—		61,013		—			61,013
Commercial paper	—		11,947		—			11,947
Derivative instrument	—		907		—			907
Contingent consideration	—		—		(29,368		)	(29,368		)

Schedule of the reconciliation of the amount in Level 3

A reconciliation of the amount in Level 3 is as follows (in thousands):

	Level 3
Balance as of December 31, 2013	$	(29,368	)
Addition of contingent consideration	—
Payment on contingent consideration, net of adjustment	—
Fair value adjustment of contingent consideration	29,368
Balance as of March 31, 2014	$	—

- Definition

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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