Investments and Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2013

Investments All Other Investments [Abstract]

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

Summary of Fair Value Measurements of Cash Equivalents and Available-for-Sale Securities

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	$	—

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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