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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2014
Fair Value Disclosures [Abstract]  
Fair Value Hierarchy for Financial Assets Measured at Fair Value on Recurring Basis

The following table represents the fair value hierarchy for our financial assets (cash equivalents and marketable securities) measured at fair value on a recurring basis as of December 31, 2014 and 2013 (in thousands):

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

$

46,989

 

 

$

-

 

 

$

-

 

 

$

46,989

 

U.S. government agency securities

 

-

 

 

 

73,141

 

 

 

-

 

 

 

73,141

 

Total

$

46,989

 

 

$

73,141

 

 

$

-

 

 

$

120,130

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

December 31, 2013

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

$

20,013

 

 

$

-

 

 

$

-

 

 

$

20,013

 

U.S. government agency securities

 

-

 

 

 

167,597

 

 

 

-

 

 

 

167,597

 

Total

$

20,013

 

 

$

167,597

 

 

$

-

 

 

$

187,610