XML 28 R10.htm IDEA: XBRL DOCUMENT
v3.3.1.900

Fair Value Measurements | 12 Months Ended
--- | ---
Dec. 31, 2015
Fair Value Measurements |
Fair Value Measurements | Note 3 — Fair Value Measurements Fair value is the price that would be received for an asset or the amount paid to transfer a liability in an orderly transaction between market participants. The Company is required to classify certain assets and liabilities based on the following fair value hierarchy:
| · |  | Level 1: Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities;
| · |  | Level 2: Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets or financial instruments for which significant inputs are observable, either directly or indirectly; and
| · |  | Level 3: Prices or valuations that require inputs that are both significant to the fair value measurement and unobservable.
A financial instrument’s level within the fair value hierarchy is based on the lowest level of any input that is significant to the fair value measurement. The Company has evaluated the estimated fair value of financial instruments using available market information and valuations as provided by third-party sources. The use of different market assumptions and/or estimation methodologies could have a significant effect on the estimated fair value amounts. The following table presents the Company’s assets that were measured at fair value on a recurring basis at December 31, 2015 and 2014:
|  |  |  | Level 1 |  |  |  | Level 2 |  |  |  | Level 3 |  |  |  | Total |
|  | (in thousands) |
December 31, 2015 |  |  |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  |  |  |
U.S. treasuries |  | $ | 9,999 |  | $ | — |  | $ | — |  | $ | 9,999 |
Government agency securities |  | — |  | 4,998 |  | — |  | 4,998 |
Commercial paper |  | — |  | 2,999 |  | — |  | 2,999 |
Total |  | $ | 9,999 |  | $ | 7,997 |  | $ | — |  | $ | 17,996 |
Short-term investments |  |  |  |  |  |  |  |  |
U.S. treasuries |  | $ | 94,918 |  | $ | — |  | $ | — |  | $ | 94,918 |
Government agency securities |  | — |  | 12,988 |  | — |  | 12,988 |
Corporate debt |  | — |  | 8,144 |  | — |  | 8,144 |
Total |  | $ | 94,918 |  | $ | 21,132 |  | $ | — |  | $ | 116,050 |
Other |  |  |  |  |  |  |  |  |
Assets held for sale |  | $ | — |  | $ | 5,000 |  | $ | — |  | $ | 5,000 |
Total |  | $ | — |  | $ | 5,000 |  | $ | — |  | $ | 5,000 |
December 31, 2014 |  |  |  |  |  |  |  |  |
Short-term investments |  |  |  |  |  |  |  |  |
U.S. treasuries |  | $ | 81,527 |  | $ | — |  | $ | — |  | $ | 81,527 |
Corporate debt |  | — |  | 39,045 |  | — |  | 39,045 |
Total |  | $ | 81,527 |  | $ | 39,045 |  | $ | — |  | $ | 120,572 |
Other |  |  |  |  |  |  |  |  |
Assets held for sale |  | $ | — |  | $ | 6,000 |  | $ | — |  | $ | 6,000 |
Total |  | $ | — |  | $ | 6,000 |  | $ | — |  | $ | 6,000 |
The above table includes highly liquid investments with maturities of three months or less which are classified as cash equivalents and are carried at cost, which approximates fair value. All investments classified as available-for-sale are recorded at fair value within short-term investments in the Consolidated Balance Sheets. The Company’s investments classified as Level 1 are based on quoted prices that are available in active markets. The Company’s investments classified as Level 2 are valued using observable inputs to quoted market prices, benchmark yields, reported trades, broker/dealer quotes, or alternative pricing sources with reasonable levels of price transparency.

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- 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 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 2: 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 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 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13537-108611 Reference 5: 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=35750535&loc=d3e13504-108611 Reference 6: 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=35750535&loc=d3e13433-108611 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration