Cash and Cash Equivalents and Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Assets Measured at Fair Value On A Recurring Basis

The cash and cash equivalents at September 30, 2015 and December 31, 2014 were as follows:



	September 30, 2015		December 31, 2014
	(In thousands)
Cash	$	17,649	$	61,311
Money market fund	40,108		64,577
Total cash and cash equivalents	$	57,757	$	125,888

Schedule of Financial Assets Measured At Fair Value

The following table represents the fair value hierarchy of the Company’s financial assets measured at fair value as of September 30, 2015:



	Level 1		Level 2		Level 3		Total
	(In thousands)
Money market funds	$	40,108	$	—	$	—	$	40,108
Derivative contracts	—		17		—		17
Total financial assets	$	40,108	$	17	$	—	$	40,125
Contingent consideration liability	—		—		5,572		5,572
Total financial Liabilities	$	—	$	—	$	5,572	$	5,572

The significant unobservable inputs used in the fair value measurement of the contingent consideration classified as level 3 above are the achievement of booking targets and the discount rate. We did not hold any Level 3 assets or liabilities as of December 31, 2014.

There have been no transfers between fair value measurement levels during the three and nine months ended September 30, 2015 and September 30, 2014.

The following table represents the fair value hierarchy of the Company’s financial asset measured at fair value as of December 31, 2014:



	Level 1		Level 2		Total
	(In thousands)
Money market fund	$	64,577	$	—	$	64,577
Total financial assets	$	64,577	$	—	$	64,577