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Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value of Financial Instruments

Schedule of estimated fair values of financial instruments outstanding

The estimated fair values of financial instruments outstanding were as follows (in thousands):

		December 31, 2013
		Cost			Unrealized Gains			Unrealized Losses			Fair Value
Cash and cash equivalents		$	4,364		$	—		$	—		$	4,364
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Short-term investments:
U.S. government debt securities		$	19,944		$	11		$	(1	)	$	19,954
Corporate notes			7,245			2			(2	)		7,245
Certificates of deposit			4,994			1			(2	)		4,993
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total short-term investments		$	32,183		$	14		$	(5	)	$	32,192
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Long-term investments:
U.S. government debt securities		$	3,016		$	—		$	—		$	3,016
Corporate notes			9,466			9			(1	)		9,474
Certificates of deposit			1,440			—			(4	)		1,436
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total long-term investments		$	13,922		$	9		$	(5	)	$	13,926
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​

		December 31, 2012
		Cost			Unrealized Gains			Unrealized Losses			Fair Value
Cash and cash equivalents		$	2,529		$	—		$	—		$	2,529
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Short-term investments:
U.S. government debt securities		$	15,852		$	6		$	(2	)	$	15,856
Corporate notes			14,471			8			(4	)		14,475
Certificates of deposit			467			—			—			467
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total short-term investments		$	30,790		$	14		$	(6	)	$	30,798
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Long-term investments:
U.S. government debt securities		$	6,330		$	2		$	—		$	6,332
Corporate notes			1,050			1						1,051
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total long-term investments		$	7,380		$	3		$	—		$	7,383
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​

Schedule of estimated fair values of available-for-sale securities with unrealized losses

The estimated fair values of available-for-sale securities with unrealized losses were as follows (in thousands):

		December 31, 2013
		Cost			Unrealized Losses			Fair Value
Short-term investments:
U.S. government debt securities		$	5,289		$	(1	)	$	5,288
Corporate notes			3,844			(2	)		3,842
Certificates of deposit			3,080			(2	)		3,078
​	​	​	​	​	​	​	​	​	​	​
Total short-term investments		$	12,213		$	(5	)	$	12,208
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​
Long-term investments:
U.S. government debt securities		$	1,253		$	—		$	1,253
Corporate notes			1,001			(1	)		1,000
Certificates of deposit			1,440			(4	)		1,436
​	​	​	​	​	​	​	​	​	​	​
Total long-term investments		$	3,694		$	(5	)	$	3,689
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

		December 31, 2012
		Cost			Unrealized Losses			Fair Value
Short-term investments:
U.S. government debt securities		$	2,546		$	(2	)	$	2,544
Corporate notes			5,668			(4	)		5,664
​	​	​	​	​	​	​	​	​	​	​
Total short-term investments		$	8,214		$	(6	)	$	8,208
​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​

Schedule of cost and fair value of investments based on maturity groups

Cost and fair value of investments based on two maturity groups were as follows (in thousands):

		December 31, 2013
		Cost			Unrealized Gains			Unrealized Losses			Fair Value
Due within 1 year		$	32,183		$	14		$	(5	)	$	32,192
Due in 1-2 years			13,922			9			(5	)		13,926
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total		$	46,105		$	23		$	(10	)	$	46,118
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​

		December 31, 2012
		Cost			Unrealized Gains			Unrealized Losses			Fair Value
Due within 1 year		$	30,790		$	14		$	(6	)	$	30,798
Due in 1-2 years			7,380			3			—			7,383
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total		$	38,170		$	17		$	(6	)	$	38,181
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​

Schedule of fair value hierarchy for financial assets (cash equivalents and investments)

The following table represents the Company's fair value hierarchy for its financial assets (cash equivalents and investments) as of December 31, 2013 and 2012 (in thousands):

		December 31, 2013
		Fair Value			Level 1			Level 2			Level 3
Money market funds		$	3,012		$	3,012		$	—		$	—
U.S. government debt securities			22,970			—			22,970			—
Corporate notes			16,719			—			16,719			—
Certificates of deposit			6,429			—			6,429			—
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total assets		$	49,130		$	3,012		$	46,118		$	—
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​

		December 31, 2012
		Fair Value			Level 1			Level 2			Level 3
Money market funds		$	1,407		$	1,407		$	—		$	—
U.S. government debt securities			22,289			—			22,289			—
Corporate notes			16,226			—			16,226			—
Certificates of deposit			467			—			467			—
​	​	​	​	​	​	​	​	​	​	​	​	​	​
Total assets		$	40,389		$	1,407		$	38,982		$	—
​	​	​	​	​	​	​	​	​	​	​	​	​	​
​	​	​	​	​	​	​	​	​	​	​	​	​	​

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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring and/or nonrecurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 820

-SubTopic 10

-Section 50

-Paragraph 1

-URI http://asc.fasb.org/extlink&oid=25499696&loc=d3e19190-110258



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-Publisher FASB

-Name Accounting Standards Codification

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-Section S99

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