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Fair Value Measurement (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Disclosures [Abstract]

Summary of Marketable Securities Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s marketable securities at December 31, 2015 and 2014 measured at fair value on a recurring basis (in thousands):

		December 31, 2015												December 31, 2014
		Cost				Gross Unrealized Gains (Losses)				Recorded Basis				Cost				Gross Unrealized Gains (Losses)				Recorded Basis
Current:
Cash Equivalents:
Money Market Funds		$	21,312			$	0			$	21,312			$	17,110			$	0			$	17,110
Available for Sale:
Certificates of Deposit			0				0				0				8,330				(43	)			8,287
VRDN			0				0				0				21,670				0				21,670
Available for Sale—Restricted:
Money Market Funds			76,023				0				76,023				3,776				0				3,776
Certificate of Deposit			10,000				0				10,000				0				0				0
Total Current Investments			107,335				0				107,335				50,886				(43	)			50,843
Long term:
Available-for-sale:
Money Market Funds		$	4			$	0			$	4			$	14,944			$	(14	)		$	14,930
Municipal bonds			3,135				(3	)			3,132				3,843				7				3,850
Corporate bonds			2,970				(24	)			2,946				2,153				(3	)			2,150
Available for Sale—Restricted:
Money Market Funds			175,869				0				175,869				46,426				0				46,426
U.S. Treasuries			4,752				1				4,753				3,847				0				3,847
Municipal bonds			3,613				(1	)			3,612				4,352				21				4,373
Corporate bonds			2,996				(24	)			2,972				2,130				(3	)			2,127
Certificate of Deposit			496				(1	)			495				115,745				0				115,745
Total Long Term Investments			193,835				(52	)			193,783				193,440				8				193,448
Total Investments		$	301,170			$	(52	)		$	301,118			$	244,326			$	(35	)		$	244,291

Summary of Assets Measured at Fair Value on Recurring Basis

The following table summarizes the Company’s financial assets measured at fair value on a recurring basis by fair value hierarchy level (in thousands):

		December 31, 2015																December 31, 2014
		Total Recorded Basis				Level 1				Level 2				Level 3				Total Recorded Basis				Level 1				Level 2				Level 3
Cash Equivalents:
Money Market		$	21,312			$	0			$	21,312			$	0			$	17,110			$	0			$	17,110			$	0
Available for Sale—Unrestricted:
Money Market Funds		$	4			$	0			$	4			$	0			$	0			$	0			$	0			$	0
Municipal bonds			3,132				241				2,891				0				3,850				355				3,495				0
Corporate bonds			2,946				2,291				655				0				2,150				1,681				469				0
Certificate of Deposit			0				0				0				0				23,217				0				23,217				0
VRDN			0				0				0				0				21,670				0				21,670				0
Available for Sale—Restricted:
Money Market			251,892				17				251,875				0				50,202				0				50,202				0
Certificate of Deposit			10,495				0				10,495				0				115,745				0				115,745				0
U.S. Treasuries			4,753				4,753				0				0				3,847				1,622				2,225				0
Municipal bonds			3,612				389				3,223				0				4,373				236				4,137				0
Corporate bonds			2,972				2,285				687				0				2,127				1,698				429				0
Total Available for Sale Securities			279,806				9,976				269,830				0				227,181				5,592				221,589				0
Total Investments		$	301,118			$	9,976			$	291,142			$	0			$	244,291			$	5,592			$	238,699			$	0

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Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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-Publisher FASB
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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).

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