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Cash, Cash Equivalents, and Investments (Tables) | 12 Months Ended
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Dec. 31, 2015
Cash, Cash Equivalents and Investments |
Cash, cash equivalents and investments | Our cash and cash equivalents consist of cash and instruments with original maturities of less than 90 days. Our investments consist of instruments with original maturities of more than 90 days. As of December 31, 2015 and, 2014, our cash, cash equivalents and investments are classified as follows (in thousands):
|  | December 31, 2015 |  | December 31, 2014 |
|  |  |  |  | Gross |  | Gross |  |  |  |  |  |  |  | Gross |  | Gross |  |  |  |
|  | Amortized |  | Unrealized |  | Unrealized |  | Fair |  | Amortized |  | Unrealized |  | Unrealized |  | Fair |
|  | Cost |  | Gain |  | (Loss) |  | Value |  | Cost |  | Gain |  | (Loss) |  | Value |
Classified as: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | $ | 10,289 |  | $ | — |  | $ | — |  | $ | 10,289 |  | $ | 22,337 |  | $ | — |  | $ | — |  | $ | 22,337 |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit 1 |  |  | 14,586 |  |  | — |  |  | — |  |  | 14,586 |  |  | 6,454 |  |  | — |  |  | — |  |  | 6,454 |
Money market fund |  |  | — |  |  | — |  |  | — |  |  | — |  |  | 23 |  |  | — |  |  | — |  |  | 23 |
Total cash and cash equivalents |  |  | 24,875 |  |  | — |  |  | — |  |  | 24,875 |  |  | 28,814 |  |  | — |  |  | — |  |  | 28,814 |
Investments (available for sale): |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit 2 |  |  | 9,795 |  |  | 1 |  |  | (13) |  |  | 9,783 |  |  | 10,195 |  |  | 1 |  |  | (13) |  |  | 10,183 |
Corporate bonds |  |  | 8,776 |  |  | — |  |  | (63) |  |  | 8,713 |  |  | 9,214 |  |  | 1 |  |  | (29) |  |  | 9,186 |
Corporate equity securities |  |  | 200 |  |  | 432 |  |  | — |  |  | 632 |  |  | 44 |  |  | 710 |  |  | — |  |  | 754 |
Total investments |  |  | 18,771 |  |  | 433 |  |  | (76) |  |  | 19,128 |  |  | 19,453 |  |  | 712 |  |  | (42) |  |  | 20,123 |
Total cash, cash equivalents and investments |  | $ | 43,646 |  | $ | 433 |  | $ | (76) |  | $ | 44,003 |  | $ | 48,267 |  | $ | 712 |  | $ | (42) |  | $ | 48,937 |
Contractual maturities on investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Due within 1 year |  | $ | 11,022 |  |  |  |  |  |  |  | $ | 11,437 |  | $ | 11,631 |  |  |  |  |  |  |  | $ | 12,340 |
Due after 1 through 5 years |  |  | 7,749 |  |  |  |  |  |  |  |  | 7,691 |  |  | 7,822 |  |  |  |  |  |  |  |  | 7,783 |
|  | $ | 18,771 |  |  |  |  |  |  |  | $ | 19,128 |  | $ | 19,453 |  |  |  |  |  |  |  | $ | 20,123 |
| 1. |  | Certificate of deposit with original maturities of less than 90 days.
| 2. |  | Certificate of deposit with original maturities of more than 90 days.
Fair value and gross unrealized losses related to available-for-sale securities | A portion of our investments would generate a loss if we sold them on December 31, 2015. The following table summarizes the fair value and gross unrealized losses related to available-for-sale securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2015 (in thousands):
|  | In Loss Position |  | In Loss Position |  | Total In |
|  | < 12 months |  | > 12 months |  | Loss Position |
|  |  |  |  | Gross |  |  |  |  | Gross |  |  |  |  | Gross |
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized |
As of December 31, 2015 |  | Value |  | (Losses) |  | Value |  | (Losses) |  | Value |  | (Losses) |
Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | 4,509 |  | $ | (11) |  | $ | 3,543 |  | $ | (2) |  | $ | 8,052 |  | $ | (13) |
Corporate bonds |  |  | 6,866 |  |  | (56) |  |  | 1,847 |  |  | (7) |  |  | 8,713 |  | $ | (63) |
Total in loss position |  | $ | 11,375 |  | $ | (67) |  | $ | 5,390 |  | $ | (9) |  | $ | 16,765 |  | $ | (76) |
The following table summarizes the fair value and gross unrealized losses related to available-for-sale securities, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position as of December 31, 2014 (in thousands):
|  | In Loss Position |  | In Loss Position |  | Total In |
|  | < 12 months |  | > 12 months |  | Loss Position |
|  |  |  |  | Gross |  |  |  |  | Gross |  |  |  |  | Gross |
|  | Fair |  | Unrealized |  | Fair |  | Unrealized |  | Fair |  | Unrealized |
As of December 31, 2014 |  | Value |  | (Loss) |  | Value |  | (Loss) |  | Value |  | (Loss) |
Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | 4,492 |  | $ | (13) |  | $ | — |  | $ | — |  | $ | 4,492 |  | $ | (13) |
Corporate bonds |  |  | 3,770 |  |  | (27) |  |  | 4,309 |  |  | (2) |  |  | 8,079 |  | $ | (29) |
Total in loss position |  | $ | 8,262 |  | $ | (40) |  | $ | 4,309 |  | $ | (2) |  | $ | 12,571 |  | $ | (42) |
Summary of financial assets and liabilities measured at fair value on a recurring basis | The type of instrument valued based on quoted market prices in active markets include our money market funds, which are generally classified within Level 1 of the fair value hierarchy. Other than corporate equity securities which are based on quoted market prices and classified as Level 1, we classify our available-for-sale securities including certificates of deposit and corporate bonds as having Level 2 inputs. The valuation techniques used to measure the fair value of these financial instruments having Level 2 inputs were derived from bank statements, quoted market prices, broker or dealer statements or quotations, or alternative pricing sources with reasonable levels of price transparency. There were no changes in valuation techniques or related inputs in the year ended December 31, 2015. There have been no transfers between fair value measurement levels during the year ended December 31, 2015. We place short-term foreign currency hedges that are intended to offset the potential cash exposure related to fluctuations in the exchange rate between the United States dollar and Japanese yen. We measure the fair value of these foreign currency hedges at each month end and quarter end using current exchange rates and in accordance with generally accepted accounting principles. At quarter end any foreign currency hedges not settled are netted in “accrued liabilities” on the consolidated balance sheet and classified as Level 3 assets and liabilities. As of December 31, 2015, the net change in fair value from the placement of the hedge to settlement at each month end during the quarter had a de minimis impact to the consolidated results. The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis in accordance with ASC 820 as of December 31, 2015 (in thousands):
|  |  |  |  | Quoted Prices in |  |  |  |  | Significant |
|  |  |  |  | Active Markets of |  | Significant Other |  | Unobservable |
|  | Balance as of |  | Identical Assets |  | Observable Inputs |  | Inputs |
|  | December 31, 2015 |  | (Level 1) |  | (Level 2) |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents and investments: |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | $ | 9,783 |  | $ | — |  | $ | 9,783 |  | $ | — |
Corporate bonds |  |  | 8,713 |  |  | — |  |  | 8,713 |  |  | — |
Corporate equity securities |  |  | 632 |  |  | 632 |  |  | — |  |  | — |
Total |  | $ | 19,128 |  | $ | 632 |  | $ | 18,496 |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |
Foreign currency hedge obligations |  | $ | 36 |  | $ | — |  | $ | — |  | $ | 36 |
The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis in accordance with ASC 820 as of December 31, 2014 (in thousands):
|  |  |  |  | Quoted Prices in |  |  |  |  | Significant |
|  |  |  |  | Active Markets of |  | Significant Other |  | Unobservable |
|  | Balance as of |  | Identical Assets |  | Observable Inputs |  | Inputs |
|  | December 31, 2014 |  | (Level 1) |  | (Level 2) |  | (Level 3) |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents and investments: |  |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 23 |  | $ | 23 |  | $ | — |  | $ | — |
Certificates of deposit |  |  | 10,183 |  |  | — |  |  | 10,183 |  |  | — |
Corporate bonds |  |  | 9,186 |  |  | — |  |  | 9,186 |  |  | — |
Corporate equity securities |  |  | 754 |  |  | 754 |  |  | — |  |  | — |
Total |  | $ | 20,146 |  | $ | 777 |  | $ | 19,369 |  | $ | — |
Liabilities |  | $ | — |  | $ | — |  | $ | — |  | $ | — |

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- Definition Tabular disclosure of fair value of investments in debt and equity securities in an unrealized loss position categorized neither as held-to-maturity nor trading securities. + References No definition available. + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: 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 + Details
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