Fair Value of Financial Instruments (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of estimated fair values of financial instruments outstanding

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

	December 31, 2014
	Cost		Unrealized Gains		Unrealized Losses			Fair Value
Cash and cash equivalents	$	3,110	$	—	$	—		$	3,110


Short-term investments:
U.S. government-sponsored enterprise bonds	$	1,250	$	—	$	—		$	1,250
Municipal bonds		841		—		—			841
Corporate notes		15,921		2		(6	)		15,917
Certificates of deposit		2,430		1		—			2,431

Total short-term investments	$	20,442	$	3	$	(6	)	$	20,439


Long-term investments:
U.S. government-sponsored enterprise bonds	$	1,000	$	—	$	(2	)	$	998
Corporate notes		1,252		—		(5	)		1,247

Total long-term investments	$	2,252	$	—	$	(7	)	$	2,245

	December 31, 2013
	Cost		Unrealized Gains		Unrealized Losses			Fair Value
Cash and cash equivalents	$	4,364	$	—	$	—		$	4,364


Short-term investments:
U.S. government-sponsored enterprise bonds	$	6,543	$	—	$	(1	)	$	6,542
Municipal bonds		13,401		11		—			13,412
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-sponsored enterprise bonds	$	2,752	$	—	$	—		$	2,752
Municipal bonds		264		—		—			264
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

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 (in thousands):

	December 31, 2014
	Cost		Unrealized Losses			Fair Value
Short-term investments:
Corporate notes	$	13,006	$	(6	)	$	13,000

Total short-term investments	$	13,006	$	(6	)	$	13,000


Long-term investments:
U.S. government-sponsored enterprise bonds	$	1,000	$	(2	)	$	998
Corporate notes		1,252		(5	)		1,247

Total long-term investments	$	2,252	$	(7	)	$	2,245

	December 31, 2013
	Cost		Unrealized Losses			Fair Value
Short-term investments:
U.S. government-sponsored enterprise bonds	$	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-sponsored enterprise bonds	$	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

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

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

	December 31, 2014
	Cost		Unrealized Gains		Unrealized Losses			Fair Value
Due within 1 year	$	20,442	$	3	$	(6	)	$	20,439
Due in 1-2 years		2,252		—		(7	)		2,245

Total	$	22,694	$	3	$	(13	)	$	22,684

	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

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, 2014 and 2013 (in thousands):

	December 31, 2014
	Fair Value		Level 1		Level 2		Level 3
Money market funds	$	1,837	$	1,837	$	—	$	—
U.S. government-sponsored enterprise bonds		2,248		—		2,248		—
Municipal bonds		1,243		—		1,243		—
Corporate notes		17,164		—		17,164		—
Certificates of deposit		2,676		—		2,676		—

Total assets	$	25,168	$	1,837	$	23,331	$	—

	December 31, 2013
	Fair Value		Level 1		Level 2		Level 3
Money market funds	$	3,012	$	3,012	$	—	$	—
U.S. government-sponsored enterprise bonds		9,295		—		9,295		—
Municipal bonds		13,675		—		13,675		—
Corporate notes		16,719		—		16,719		—
Certificates of deposit		6,429		—		6,429		—

Total assets	$	49,130	$	3,012	$	46,118	$	—