Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2018

Financial Assets Measured at Fair Value on a Recurring Basis

Financial assets measured at fair value on a recurring basis were as follows (in thousands):



	Fair Value Measurements at March 31, 2018
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		Level 1		Level 2		Level 3
Assets:
Money market funds	$	96,851	$	96,851	$	—	$	—
U.S. Treasury securities	3,997		—		3,997		—
Corporate debt securities	55,636		—		55,636		—
Total assets measured at fair value^(a)	$	156,484	$	96,851	$	59,633	$	—

(a) Total assets measured at fair value at March 31, 2018 includes approximately $96.8 million reported in cash and cash equivalents on the balance sheet.



	Fair Value Measurements at December 31, 2017
			Quoted Prices in Active Markets for Identical Assets		Significant Other Observable Inputs		Significant Unobservable Inputs
	Total		Level 1		Level 2		Level 3
Assets:
Money market funds	$	61,512	$	61,512	$	—	$	—
U.S. Treasury securities	3,990		—		3,990		—
Government-sponsored enterprises	11,990		—		11,990		—
Corporate debt securities	78,418		—		78,418		—
Total assets measured at fair value^(a)	$	155,910	$	61,512	$	94,398	$	—

(a) Total assets measured at fair value at December 31, 2017 includes approximately $62.5 million reported in cash and cash equivalents on the balance sheet.

- 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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