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Significant Accounting Policies (Tables)
 12 Months Ended
Dec. 31, 2012
Estimated Useful Lives

The estimated useful lives, by asset classification, are as follows:

 

Asset Classification

   

Useful Lives

Computer equipment and software

    3 - 5 years

Furniture and fixtures

    5 years

Leasehold Improvements

    Lesser of useful life or lease term
Assets and Liability Measured at Fair Value on a Recurring Basis

The following table presents information about the Company’s assets and liabilities as of December 31, 2012 and 2011 that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

 

     December 31, 2012  
In millions    Total      Level 1      Level 2      Level 3  

Asset:

            

Cash equivalents—money markets

    $ 64.1       $ 64.1       $ —        $ —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Liabilities:

            

Warrant derivative liability

    $ 54.9       $ —        $ —        $ 54.9   

Long term debt redemption feature

    $ 14.6       $ —        $ —        $ 14.6   
  

 

 

     

 

 

     

 

 

     

 

 

  

 

     December 31, 2011  
In millions    Total      Level 1      Level 2      Level 3  

Asset:

            

Cash equivalents—money markets

    $ 39.0       $ 39.0       $ —        $ —    
  

 

 

     

 

 

     

 

 

     

 

 

  

Liability:

            

Warrant derivative liability

    $ 123.1       $ —        $ —        $ 123.1   
  

 

 

     

 

 

     

 

 

     

 

 

  
Change in Fair Value of Warrant Derivative Liabilities

The change in the fair value of the warrant derivative liabilities is as follows (in thousands):

 

     October
2009
Warrants		  

Balance at December 31, 2009

    $ 41,520   

Loss on change in fair value of derivative liability

      205,153   

Compensation expense for change in fair value of warrants issued to former employees

      5,713   

Transfers to equity

      (22,317 ) 

Balance at December 31, 2010

    $ 230,069   
  

 

 

  

Loss on change in fair value of derivative liability

      22,669   

Compensation income for change in fair value of warrants issued to former employees

      (96 ) 

Transfers to equity

      (129,517 ) 
  

 

 

  

Balance at December 31, 2011

    $ 123,125   
  

 

 

  

Initial measurement—December 2012 financing

      —     

Loss (gain) on change in fair value of derivative liability

      35,367   

Compensation expense for change in fair value of warrants issued to former employees

      247   

Transfers to equity

      (103,885 ) 
  

 

 

  

Balance at December 31, 2012

    $ 54,854