Fair value measurements (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value, Assets Measured on Recurring Basis

The Company’s assets that are measured at fair value on a recurring basis, by level, within the fair value hierarchy are summarized as follows:



	September 30, 2015						December 31, 2014
(in thousands)	Level 1		Level 2		Total		Level 1		Level 2		Total
Cash equivalents ⁽¹⁾:
Money market funds	$	12,173	$	—	$	12,173	$	80,968	$	—	$	80,968
Corporate debt securities	—		100		100		—		2,000		2,000
Total cash equivalents	$	12,173	$	100	$	12,273	$	80,968	$	2,000	$	82,968
Marketable securities:
U.S. treasury securities	$	3,014	$	—	$	3,014	$	1,994	$	—	$	1,994
U.S. agency securities	—		19,565		19,565		—		7,020		7,020
Commercial paper	—		997		997		—		2,497		2,497
Corporate debt securities	—		197,554		197,554		—		—		—
Municipal securities	—		12,003		12,003		—		90,816		90,816
Total marketable securities	$	3,014	$	230,119	$	233,133	$	1,994	$	100,333	$	102,327

⁽¹⁾ Included in “cash and cash equivalents” in the accompanying condensed consolidated balance sheets as of September 30, 2015 and December 31, 2014, in addition to cash of $267.7 million and $237.0 million, respectively.