XML 24 R13.htm IDEA: XBRL DOCUMENT v3.7.0.1
FAIR VALUE MEASUREMENTS (Tables)
 6 Months Ended
Jun. 30, 2017
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 June 30, 2017 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

 

$
4,501

 

$

—

 

$

—

 

$
4,501

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted cash:

 

 

 

 

 

 

 

 

 

Certificate of deposit

 

$
268

 

$

—

 

$

—

 

$
268

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketable securities:

 

 

 

 

 

 

 

 

 

Government-sponsored enterprise securities (due in less than one year)

 

$
7,500

 

$

—

 

$
(8

)

$
7,492

 

Government-sponsored enterprise securities (due in one to two years)

 
10,000

 

—

 
(39

)
9,961

 

Commercial paper (due in less than one year)

 
19,422

 
18

 
(1

)
19,439

 

Corporate notes (due in less than one year)

 
61,341

 
1

 
(34

)
61,308

 

Corporate notes (due in one to two years)

 
12,131

 

—

 
(16

)
12,115

 

 

 

 

 

 

 

 

 

 

 

 

 

$
110,394

 

$
19

 

$
(98

)

$
110,315

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents, restricted cash and marketable securities by security type at December 31, 2016 were as follows:

 

 

 

Amortized

 

Gross
Unrealized

 

Gross
Unrealized

 

Estimated

 

(In thousands)

 

Cost

 

Gains

 

Losses

 

Fair Value

 

Included in cash and cash equivalents:

 

 

 

 

 

 

 

 

 

Money market funds

 

$
11,193

 

$

—

 

$

—

 

$
11,193

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Restricted cash:

 

 

 

 

 

 

 

 

 

Certificate of deposit

 

$
268

 

$

—

 

$

—

 

$
268

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Marketable securities:

 

 

 

 

 

 

 

 

 

Government-sponsored enterprise securities (due in less than one year)

 

$
5,000

 

$

—

 

$
(3

)

$
4,997

 

Government-sponsored enterprise securities (due in one to two years)

 
12,500

 

—

 
(42

)
12,458

 

Commercial paper (due in less than one year)

 
31,024

 
50

 
(5

)
31,069

 

Corporate notes (due in less than one year)

 
66,012

 
4

 
(47

)
65,969

 

Corporate notes (due in one to two years)

 
1,506

 

—

 
(10

)
1,496

 

 

 

 

 

 

 

 

 

 

 

 

 

$
116,042

 

$
54

 

$
(107

)

$
115,989

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of marketable securities with unrealized losses

 

 

 

Less Than 12 Months

 

12 Months or Greater

 

Total

 

 

 

Estimated

 

Gross
Unrealized

 

Estimated

 

Gross
Unrealized

 

Estimated

 

Gross
Unrealized

 

(In thousands)

 

Fair Value

 

Losses

 

Fair Value

 

Losses

 

Fair Value

 

Losses

 

As of June 30, 2017:

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprise securities (due in less than one year)

 

$
7,492

 

$
(8

)

$

—

 

$

—

 

$
7,492

 

$
(8

)

Government-sponsored enterprise securities (due in one to two years)

 
9,961

 
(39

)

—

 

—

 
9,961

 
(39

)

Commercial paper (due in less than one year)

 
2,998

 
(1

)

—

 

—

 
2,998

 
(1

)

Corporate notes (due in less than one year)

 
51,911

 
(33

)
1,400

 
(1

)
53,311

 
(34

)

Corporate notes (due in one to two years)

 
12,115

 
(16

)

—

 

—

 
12,115

 
(16

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$
84,477

 

$
(97

)

$
1,400

 

$
(1

)

$
85,877

 

$
(98

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2016:

 

 

 

 

 

 

 

 

 

 

 

 

 

Government-sponsored enterprise securities (due in less than one year)

 

$
4,997

 

$
(3

)

$

—

 

$

—

 

$
4,997

 

$
(3

)

Government-sponsored enterprise securities (due in one to two years)

 
12,458

 
(42

)

—

 

—

 
12,458

 
(42

)

Commercial paper (due in less than one year)

 
8,365

 
(5

)

—

 

—

 
8,365

 
(5

)

Corporate notes (due in less than one year)

 
39,218

 
(37

)
6,944

 
(10

)
46,162

 
(47

)

Corporate notes (due in one to two years)

 
1,496

 
(10

)

—

 

—

 
1,496

 
(10

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

$
66,534

 

$
(97

)

$
6,944

 

$
(10

)

$
73,478

 

$
(107

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Schedule of financial instruments measured at fair value on recurring basis

 

 

 

 

Fair Value Measurements at Reporting Date Using

 

 

 

Quoted Prices in
Active Markets for

 

Significant Other

 

Significant
Unobservable

 

 

 

 

 

Identical Assets

 

Observable Inputs

 

Inputs

 

 

 

(In thousands)

 

Level 1

 

Level 2

 

Level 3

 

Total

 

As of June 30, 2017:

 

 

 

 

 

 

 

 

 

Money market funds(1)

 

$
4,501

 

$

—

 

$

—

 

$
4,501

 

Government-sponsored enterprise securities(2)(3)

 

—

 
17,453

 

—

 
17,453

 

Commercial paper(2)

 

—

 
19,439

 

—

 
19,439

 

Corporate notes(2)(3)

 

—

 
73,423

 

—

 
73,423

 

 

 

 

 

 

 

 

 

 

 

Total

 

$
4,501

 

$
110,315

 

$

—

 

$
114,816

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

As of December 31, 2016:

 

 

 

 

 

 

 

 

 

Money market funds(1)

 

$
11,193

 

$

—

 

$

—

 

$
11,193

 

Government-sponsored enterprise securities(2)(3)

 

—

 
17,455

 

—

 
17,455

 

Commercial paper(2)

 

—

 
31,069

 

—

 
31,069

 

Corporate notes(2)(3)

 

—

 
67,465

 

—

 
67,465

 

 

 

 

 

 

 

 

 

 

 

Total

 

$
11,193

 

$
115,989

 

$

—

 

$
127,182

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

(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.