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Fair value measurements | 12 Months Ended
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Dec. 31, 2015
Fair Value Disclosures [Abstract] |
Fair value measurements | Fair value measurements 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:
|  | December 31, 2015 |  | December 31, 2014
(in thousands) |  | Level 1 |  | Level 2 |  | Total |  | Level 1 |  | Level 2 |  | Total
Cash equivalents (1): |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 51,059 |  |  | $ | — |  |  | $ | 51,059 |  |  | $ | 80,968 |  |  | $ | — |  |  | $ | 80,968 |
Corporate debt securities |  | — |  |  | — |  |  | — |  |  | — |  |  | 2,000 |  |  | 2,000 |
Total cash equivalents |  | $ | 51,059 |  |  | $ | — |  |  | $ | 51,059 |  |  | $ | 80,968 |  |  | $ | 2,000 |  |  | $ | 82,968 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury securities |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 1,994 |  |  | $ | — |  |  | $ | 1,994 |
U.S. agency securities |  | — |  |  | 14,451 |  |  | 14,451 |  |  | — |  |  | 7,020 |  |  | 7,020 |
Commercial paper |  | — |  |  | 2,197 |  |  | 2,197 |  |  | — |  |  | 2,497 |  |  | 2,497 |
Corporate debt securities |  | — |  |  | 165,825 |  |  | 165,825 |  |  | — |  |  | 90,816 |  |  | 90,816 |
Municipal securities |  | — |  |  | 11,913 |  |  | 11,913 |  |  | — |  |  | — |  |  | — |
Total marketable securities |  | $ | — |  |  | $ | 194,386 |  |  | $ | 194,386 |  |  | $ | 1,994 |  |  | $ | 100,333 |  |  | $ | 102,327 |
(1) Included in “cash and cash equivalents” in the accompanying consolidated balance sheets as of December 31, 2015 and 2014. Cash balances were $228.6 million and $237.0 million as of December 31, 2015 and 2014, respectively. For the periods presented, the Company had no financial assets or liabilities that were classified as Level 3, and had no transfers of financial assets between levels. The remaining contractual maturities of available-for-sale marketable securities as of the period-ends noted, are as follows:
|  | December 31,
(in thousands) |  | 2015 |  | 2014
Less than one year |  | $ | 122,199 |  |  | $ | 58,764 |
Greater than one year but less than two years |  | 72,187 |  |  | 43,563 |
Total |  | $ | 194,386 |  |  | $ | 102,327 |
At December 31, 2015 and 2014, the amortized cost of the Company's cash equivalents and marketable securities approximated their fair value and there were no material unrealized gains/(losses) either individually or in the aggregate.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: 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 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13537-108611 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13504-108611 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13433-108611 + Details
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