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Fair Value Measurement of Assets and Liabilities (Tables)
12 Months Ended
Dec. 31, 2012
Fair Value Measurement of Assets and Liabilities [Abstract]  
Summary of Company's financial instrument, fair value on a recurring basis

The following table summarizes the Company’s financial instruments measured at fair value on a recurring basis in accordance with the authoritative guidance for fair value measurements as of December 31, 2012 (in thousands):

 

                         

Description

  Balance as of
December 31, 2012
    Level 1     Level 2  

Assets:

                       

Cash equivalents

                       

Money market funds

  $ 47     $ 47     $ 0  

US Treasury securities

    3,429       0       3,429  
   

 

 

   

 

 

   

 

 

 

Total cash equivalents

    3,476       47       3,429  
   

 

 

   

 

 

   

 

 

 

Short-term marketable securities:

                       

Available-for-sale:

                       

Government agency securities

    3,266       0       3,266  

Municipal bonds

    11,260       0       11,260  

Certificates of deposit

    6,205       0       6,205  

Corporate debentures / bonds

    17,333       0       17,333  
   

 

 

   

 

 

   

 

 

 

Total short-term marketable securities

    38,064       0       38,064  
   

 

 

   

 

 

   

 

 

 

Long-term marketable securities:

                       

Available-for-sale:

                       

Certificates of deposit

    1,201       0       1,201  
   

 

 

   

 

 

   

 

 

 

Total long-term marketable securities

    1,201       0       1,201  
   

 

 

   

 

 

   

 

 

 

Total financial assets

  $ 42,741     $ 47     $ 42,694  
   

 

 

   

 

 

   

 

 

 

The following table summarizes the Company’s financial instruments measured at fair value on a recurring basis in accordance with the authoritative guidance for fair value measurements as of December 31, 2011 (in thousands):

 

                         

Description

  Balance as of
December 31, 2011
    Level 1     Level 2  

Assets:

                       

Cash equivalents

                       

Money market funds

  $ 25,137     $ 25,137     $ 0  

US Treasury securities

    5,784       0       5,784  
   

 

 

   

 

 

   

 

 

 

Total cash equivalents

    30,921       25,137       5,784  
   

 

 

   

 

 

   

 

 

 

Short-term marketable securities:

                       

Available-for-sale:

                       

Government agency securities

    6,912       0       6,912  

Municipal bonds

    8,384       0       8,384  

Certificates of deposit

    4,321       0       4,321  

Corporate debentures / bonds

    8,612       0       8,612  

Marketable equity securities

    38       38       0  
   

 

 

   

 

 

   

 

 

 

Total short-term marketable securities

    28,267       38       28,229  
   

 

 

   

 

 

   

 

 

 

Long-term marketable securities:

                       

Available-for-sale:

                       

Government agency securities

    3,738       0       3,738  

Municipal bonds

    5,969       0       5,969  

Certificates of deposit

    3,788       0       3,788  
   

 

 

   

 

 

   

 

 

 

Total long-term marketable securities

    13,495       0       13,495  
   

 

 

   

 

 

   

 

 

 

Total financial assets

  $ 72,683     $ 25,175     $ 47,508  
   

 

 

   

 

 

   

 

 

 
Summary of Level 3 activity for our contingent consideration liability

The table below presents Level 3 activity for our contingent consideration liability for the twelve months ended December 31, 2011 (in thousands):

 

 

         

Contingent consideration liability

  Level 3  

Beginning balance at January 1, 2011

  $ (880

Adjustments

    880  
   

 

 

 

Ending balance at December 31, 2011

  $ 0