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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Mar. 31, 2015
FAIR VALUE MEASUREMENTS |
Schedule of cash equivalents, restricted cash and marketable securities by security type | Cash equivalents, restricted cash and marketable securities by security type at March 31, 2015 were as follows:
|  |  |  | Gross |  | Gross |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Estimated |
(In thousands) |  | Cost |  | Gains |  | Losses |  | Fair Value |
Included in cash and cash equivalents: |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 7,231 |  | $ | — |  | $ | — |  | $ | 7,231 |
Restricted cash: |  |  |  |  |  |  |  |  |
Certificate of deposit |  | $ | 266 |  | $ | — |  | $ | — |  | $ | 266 |
Marketable securities: |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities (due in less than 1 year) |  | $ | 401 |  | $ | — |  | $ | (1 | ) | $ | 400 |
Government-sponsored enterprise securities (due in 1 to 2 years) |  | 5,806 |  | — |  | (1 | ) | 5,805 |
Commercial paper (due in less than 1 year) |  | 28,963 |  | 33 |  | — |  | 28,996 |
Corporate notes (due in less than 1 year) |  | 106,305 |  | 10 |  | (56 | ) | 106,259 |
Corporate notes (due in 1 to 2 years) |  | 11,936 |  | 2 |  | (4 | ) | 11,934 |
|  | $ | 153,411 |  | $ | 45 |  | $ | (62 | ) | $ | 153,394 |
Cash equivalents, restricted cash and marketable securities by security type at December 31, 2014 were as follows:
|  |  |  | Gross |  | Gross |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Estimated |
(In thousands) |  | Cost |  | Gains |  | Losses |  | Fair Value |
Included in cash and cash equivalents: |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 40,342 |  | $ | — |  | $ | — |  | $ | 40,342 |
Restricted cash: |  |  |  |  |  |  |  |  |
Certificate of deposit |  | $ | 266 |  | $ | — |  | $ | — |  | $ | 266 |
Marketable securities: |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities (due in less than 1 year) |  | $ | 401 |  | $ | — |  | $ | (1 | ) | $ | 400 |
Government-sponsored enterprise securities (due in 1 to 2 years) |  | 6,556 |  | — |  | (7 | ) | 6,549 |
Commercial paper (due in less than 1 year) |  | 10,985 |  | 14 |  | — |  | 10,999 |
Corporate notes (due in less than 1 year) |  | 97,307 |  | 2 |  | (63 | ) | 97,246 |
Corporate notes (due in l to 2 years) |  | 12,412 |  | — |  | (29 | ) | 12,383 |
|  | $ | 127,661 |  | $ | 16 |  | $ | (100 | ) | $ | 127,577 |
Schedule of marketable securities with unrealized losses |
|  | Less Than 12 Months |  | 12 Months or Greater |  | Total |
|  |  |  | Gross |  |  |  | Gross |  |  |  | Gross |
|  | Estimated |  | Unrealized |  | Estimated |  | Unrealized |  | Estimated |  | Unrealized |
(In thousands) |  | Fair Value |  | Losses |  | Fair Value |  | Losses |  | Fair Value |  | Losses |
As of March 31, 2015: |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities (due in less than 1 year) |  | $ | 400 |  | $ | (1 | ) | $ | — |  | $ | — |  | $ | 400 |  | $ | (1 | )
Government-sponsored enterprise securities (due in 1 to 2 years) |  | 5,805 |  | (1 | ) | — |  | — |  | 5,805 |  | (1 | )
Corporate notes (due in less than 1 year) |  | 80,083 |  | (56 | ) | — |  | — |  | 80,083 |  | (56 | )
Corporate notes (due in 1 to 2 years) |  | 6,012 |  | (4 | ) | — |  | — |  | 6,012 |  | (4 | )
|  | $ | 92,300 |  | $ | (62 | ) | $ | — |  | $ | — |  | $ | 92,300 |  | $ | (62 | )
As of December 31, 2014: |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities (due in less than 1 year) |  | $ | 400 |  | $ | (1 | ) | $ | — |  | $ | — |  | $ | 400 |  | $ | (1 | )
Government-sponsored enterprise securities (due in 1 to 2 years) |  | 5,549 |  | (7 | ) | — |  | — |  | 5,549 |  | (7 | )
Corporate notes (due in less than 1 year) |  | 92,989 |  | (63 | ) | — |  | — |  | 92,989 |  | (63 | )
Corporate notes (due in 1 to 2 years) |  | 12,383 |  | (29 | ) | — |  | — |  | 12,383 |  | (29 | )
|  | $ | 111,321 |  | $ | (100 | ) | $ | — |  | $ | — |  | $ | 111,321 |  | $ | (100 | )
Schedule of financial instruments measured at fair value on recurring basis | The following table presents information about our financial instruments that are measured at fair value on a recurring basis as of March 31, 2015 and indicates the fair value category assigned.
|  | Fair Value Measurements at Reporting Date Using |
|  | Quoted Prices in |  | Significant |  |  |  |  |
|  | Active Markets |  | Other |  | Significant |  |  |
|  | for Identical |  | Observable |  | Unobservable |  |  |
|  | Assets |  | Inputs |  | Inputs |  |  |
(In thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets: |  |  |  |  |  |  |  |  |
Money market funds(1) |  | $ | 7,231 |  | $ | — |  | $ | — |  | $ | 7,231 |
Government-sponsored enterprise securities(2)(3) |  | — |  | 6,205 |  | — |  | 6,205 |
Commercial paper(2) |  | — |  | 28,996 |  | — |  | 28,996 |
Corporate notes(2)(3) |  | — |  | 118,193 |  | — |  | 118,193 |
Total |  | $ | 7,231 |  | $ | 153,394 |  | $ | — |  | $ | 160,625 |
The following table presents information about our financial instruments that are measured at fair value on a recurring basis as of December 31, 2014 and indicates the fair value category assigned.
|  | Fair Value Measurements at Reporting Date Using |
|  | Quoted Prices in |  | Significant |  |  |  |  |
|  | Active Markets |  | Other |  | Significant |  |  |
|  | for Identical |  | Observable |  | Unobservable |  |  |
|  | Assets / Liabilities |  | Inputs |  | Inputs |  |  |
(In thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets: |  |  |  |  |  |  |  |  |
Money market funds(1) |  | $ | 40,342 |  | $ | — |  | $ | — |  | $ | 40,342 |
Government-sponsored enterprise securities(2)(3) |  | — |  | 6,949 |  | — |  | 6,949 |
Commercial paper(2) |  | — |  | 10,999 |  | — |  | 10,999 |
Corporate notes(2)(3) |  | — |  | 109,629 |  | — |  | 109,629 |
Total |  | $ | 40,342 |  | $ | 127,577 |  | $ | — |  | $ | 167,919 |
Liabilities: |  |  |  |  |  |  |  |  |
Derivatives(4) |  | $ | — |  | $ | — |  | $ | 16 |  | $ | 16 |
| (1) |  | Included in cash and cash equivalents on our condensed balance sheets.
| (2) |  | Included in current portion of marketable securities on our condensed balance sheets.
| (3) |  | Included in noncurrent portion of marketable securities on our condensed balance sheets.
| (4) |  | Included in fair value of derivatives on our condensed balance sheets.
Schedule of rollforward of the balance sheet amounts for financial instruments in Level 3 category |
|  |  |  | Fair Value Measurements Using Significant Unobservable Inputs (Level 3) |
|  |  |  | Three Months Ended March 31, 2015 |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Change in |
|  |  |  |  |  |  |  |  |  |  |  |  |  | Unrealized Gain |
|  |  |  | Total |  |  |  |  |  |  |  |  |  | Related to |
|  |  |  | Unrealized |  |  |  |  |  | Transfers |  |  |  | Financial |
|  | Fair Value at |  | Gain |  | Purchases |  |  |  | In and/or |  | Fair Value at |  | Instruments |
|  | December 31, |  | Included in |  | and |  | Sales and |  | Out of |  | March 31, |  | Held at |
(In thousands) |  | 2014 |  | Earnings(1) |  | Issuances |  | Settlements |  | Level 3 |  | 2015 |  | March 31, 2015 |
Derivative liabilities |  | $ | 16 |  | $ | (16 | ) | $ | — |  | $ | — |  | $ | — |  | $ | — |  | $ | — |
| (1) |  | Reported as unrealized gain on derivatives in our condensed statements of operations.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -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 10 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13467-108611 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 12 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13476-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 45 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610 + Details
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- 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. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -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 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19279-110258 + Details
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- Definition 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). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19190-110258 + Details
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