XML 26 R8.htm IDEA: XBRL DOCUMENT
v2.4.0.8

Investments and Fair Value Measurement | 9 Months Ended
--- | ---
Sep. 30, 2013
Investments All Other Investments [Abstract] |
Investments and Fair Value Measurement | NOTE 2—INVESTMENTS AND FAIR VALUE MEASUREMENT Investments Sangamo classifies its marketable securities as available-for-sale and records its investments at fair value. Available-for-sale securities are carried at estimated fair value based on quoted market prices, with the unrealized holding gains and losses included in accumulated other comprehensive income. Marketable securities which have maturities beyond one year as of the end of the reporting period are classified as non-current. The Company’s investments are subject to a periodic impairment review and the Company recognizes an impairment charge when a decline in the fair value of its investments below the cost basis is judged to be other-than-temporary. The Company considers various factors in determining whether to recognize an impairment charge, including the length of time and extent to which the fair value has been less than the Company’s cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in the market value. The table below summarizes the Company’s available-for-sale securities (in thousands):
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized (Losses) |  |  | Estimated Fair Value |
September 30, 2013 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 9,758 |  |  | $ | — |  |  | $ | — |  |  | $ | 9,758 |
Total |  |  | 9,758 |  |  |  | — |  |  |  | — |  |  |  | 9,758 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored entity debt securities |  |  | 52,577 |  |  |  | 26 |  |  |  | — |  |  |  | 52,603 |
Total |  |  | 52,577 |  |  |  | 26 |  |  |  | — |  |  |  | 52,603 |
Total cash equivalents and available-for-sale securities |  | $ | 62,335 |  |  | $ | 26 |  |  | $ | — |  |  | $ | 62,361 |
December 31, 2012 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored entity debt securities |  | $ | 2,997 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,997 |
Money market funds |  |  | 15,839 |  |  |  | — |  |  |  | — |  |  |  | 15,839 |
Total |  |  | 18,836 |  |  |  | — |  |  |  | — |  |  |  | 18,836 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored entity debt securities |  |  | 54,426 |  |  |  | 26 |  |  |  | — |  |  |  | 54,452 |
Total |  |  | 54,426 |  |  |  | 26 |  |  |  | — |  |  |  | 54,452 |
Total cash equivalents and available-for-sale securities |  | $ | 73,262 |  |  | $ | 26 |  |  | $ | — |  |  | $ | 73,288 |
As of September 30, 2013, none of the available-for-sale securities held by the Company had material unrealized losses and there were no realized losses for the three and nine months ended September 30, 2013. The Company had no other-than-temporary impairments of available-for-sale securities for the three and nine months ended September 30, 2013 or the twelve months ended December 31, 2012. Fair Value Measurement The Company measures certain financial assets at fair value on a recurring basis, including cash equivalents and available-for sale-securities. The fair value of these assets was determined based on a three-tier hierarchy under the authoritative guidance for fair value measurements and disclosures that prioritizes the inputs used in measuring fair value as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The Company generally classifies its available-for-sale debt instruments as Level 2. Instruments can be classified as Level 2 when observable market prices for identical securities that are traded in less active markets are used. When observable market prices for identical securities are not available, such instruments are priced using benchmark curves, benchmarking of like securities, sector groupings, and matrix pricing as well as model processes. These models are proprietary to the pricing providers or brokers. These valuation models incorporate a number of inputs, including, listed in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications. For certain security types, additional inputs may be used, or some of the standard inputs may not be applicable. Evaluators may prioritize inputs differently on any given day for any security based on market conditions, and not all inputs listed are available for use in the evaluation process for each security evaluation on any given day. The fair value measurements of our cash equivalents and available-for-sale marketable securities are identified at the following levels within the fair value hierarchy (in thousands):
|  | September 30, 2013 Fair Value Measurements |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 9,758 |  |  | $ | 9,758 |  |  | $ | — |  |  | $ | — |
Total |  |  | 9,758 |  |  |  | 9,758 |  |  |  | — |  |  |  | — |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored entity debt securities |  |  | 52,603 |  |  |  | — |  |  |  | 52,603 |  |  |  | — |
Total |  |  | 52,603 |  |  |  | — |  |  |  | 52,603 |  |  |  | — |
Total cash equivalents and available-for-sale securities |  | $ | 62,361 |  |  | $ | 9,758 |  |  | $ | 52,603 |  |  | $ | — |
|  | December 31, 2012 Fair Value Measurements |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored entity debt securities |  | $ | 2,997 |  |  | $ | — |  |  | $ | 2,997 |  |  | $ | — |
Money market funds |  |  | 15,839 |  |  |  | 15,839 |  |  |  | — |  |  |  | — |
Total |  |  | 18,836 |  |  |  | 15,839 |  |  |  | 2,997 |  |  |  | — |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government sponsored entity debt securities |  |  | 54,452 |  |  |  | — |  |  |  | 54,452 |  |  |  | — |
Total |  |  | 54,452 |  |  |  | — |  |  |  | 54,452 |  |  |  | — |
Total cash equivalents and available-for-sale securities |  | $ | 73,288 |  |  | $ | 15,839 |  |  | $ | 57,449 |  |  | $ | — |

X
- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
Name: | us-gaap_FinancialInstrumentsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Details
Name: | us-gaap_InvestmentsAllOtherInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration