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Fair Value Measurements | 9 Months Ended
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Sep. 30, 2014
Fair Value Measurements [Abstract] |
Fair Value, Measurement Inputs, Disclosure | Fair Value Measurements The Company uses various inputs in determining the fair value of its investments and measures these assets on a recurring basis. Assets and liabilities recorded at fair value in the consolidated balance sheets are categorized by the level of objectivity associated with the inputs used to measure their fair value. The following levels are directly related to the amount of subjectivity associated with the inputs to fair valuation of these assets and liabilities:
• | Level 1 - quoted prices in active markets for identical investments, which include U.S. treasury securities
• | Level 2 - other significant observable inputs (including quoted prices for similar investments, market corroborated inputs, etc.)
• | Level 3 - significant unobservable inputs (including the Company’s own assumptions in determining the fair value of the Symphony Icon purchase consideration liability)
The inputs or methodology used for valuing securities are not necessarily an indication of the credit risk associated with investing in those securities. The following table provides the fair value measurements of applicable Company assets and liabilities that are measured at fair value on a recurring basis according to the fair value levels described above as of September 30, 2014 and December 31, 2013.
|  | Assets and Liabilities at Fair Value as of September 30, 2014
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in thousands)
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 26,775 |  |  | $ | — |  |  | $ | — |  |  | $ | 26,775 |
Short-term investments |  | 30,542 |  |  | 552 |  |  | — |  |  | 31,094 |
Total cash and cash equivalents and investments |  | $ | 57,317 |  |  | $ | 552 |  |  | $ | — |  |  | $ | 57,869 |
Liabilities |  |  |  |  |  |  |  |
Other long-term liabilities |  | $ | — |  |  | $ | — |  |  | $ | 28,228 |  |  | $ | 28,228 |
Total liabilities |  | $ | — |  |  | $ | — |  |  | $ | 28,228 |  |  | $ | 28,228 |
|  | Assets and Liabilities at Fair Value as of December 31, 2013
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in thousands)
Assets |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 37,499 |  |  | $ | — |  |  | $ | — |  |  | $ | 37,499 |
Short-term investments |  | 91,077 |  |  | 552 |  |  | — |  |  | 91,629 |
Total cash and cash equivalents and investments |  | $ | 128,576 |  |  | $ | 552 |  |  | $ | — |  |  | $ | 129,128 |
Liabilities |  |  |  |  |  |  |  |
Other long-term liabilities |  | $ | — |  |  | $ | — |  |  | $ | 27,710 |  |  | $ | 27,710 |
Total liabilities |  | $ | — |  |  | $ | — |  |  | $ | 27,710 |  |  | $ | 27,710 |
The Company’s Level 3 liabilities, which consists of the Symphony Icon purchase consideration liability, is estimated using a probability-based income approach utilizing an appropriate discount rate. Subsequent changes in the fair value of the Symphony Icon purchase consideration liability are recorded as an increase or decrease in Symphony Icon purchase liability expense in the accompanying consolidated statements of comprehensive loss. The following table summarizes the change in consolidated balance sheet carrying value associated with Level 3 liabilities for the nine months ended September 30, 2014 and 2013.
|  | Other Long-term Liabilities
|  | (in thousands)
Balance at December 31, 2013 |  | $ | 27,710 |
Change in valuation of purchase consideration payable to former Symphony Icon stockholders |  | 518 |
Balance at September 30, 2014 |  | $ | 28,228 |
Balance at December 31, 2012 |  | $ | 29,920 |
Change in valuation of purchase consideration payable to former Symphony Icon stockholders |  | 3,079 |
Balance at September 30, 2013 |  | $ | 32,999 |
The Company also has assets that under certain conditions are subject to measurement at fair value on a non-recurring basis. The Company’s buildings and land, which have been classified as assets held for sale (see Note 7, Assets Held for Sale), are measured using Level 2 inputs, based on sale transactions of similar assets, less estimated costs to sell. The Company has executed a letter of intent that supports the estimated selling price, and expects to close the transaction contemplated by this letter of intent within the next year. The Company’s other assets that are subject to measurement at fair value on a non-recurring basis include goodwill associated with the acquisitions of Coelacanth Corporation in 2001 and Symphony Icon in 2010 and intangible assets associated with the acquisition of Symphony Icon in 2010. For these assets, measurement at fair value in periods subsequent to their initial recognition is applicable if one or more is determined to be impaired.

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- Definition The entire disclosure of the fair value measurement of assets and liabilities, which includes financial instruments measured at fair value that are classified in shareholders' equity, which may be measured on a recurring or nonrecurring basis. + References Reference 1: 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 Reference 2: 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 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 + Details
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