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Fair Value Measurements
6 Months Ended
Jun. 30, 2013
Fair Value Measurements [Abstract]  
Fair Value Measurements

Fair Value Measurements

We value financial instruments using a three-tier fair value hierarchy, which prioritizes the inputs used in measuring fair value. These tiers include: Level 1, defined as observable inputs such as quoted prices in active markets for identical assets or liabilities; Level 2, defined as inputs other than quoted prices for similar assets or liabilities in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs in which little or no market data exists, therefore requiring an entity to develop its own assumptions.

Financial assets accounted for at fair value on a recurring basis at June 30, 2013 include cash and cash equivalents of approximately $7.0 million. These assets are carried at fair value based on quoted market prices for identical securities (Level 1 inputs).