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Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2015

Fair Value of Financial Instruments

Schedule of estimated fair values of financial instruments outstanding

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

		September 30, 2015
		Cost			Unrealized Gains			Unrealized Losses			Fair Value
Cash and cash equivalents		$	1,585		$	—		$	—		$	1,585
Short-term investments:
U.S. government-sponsored enterprise bonds		$	8,439		$	2		$	(1	)	$	8,440
Corporate notes		11,924			—			(3		)	11,921
Municipal bonds		996			—			—			996
Certificates of deposit		240			—			—			240
Commercial paper		—			—			—			—
Total short-term investments		$	21,599		$	2		$	(4	)	$	21,597
Long-term investments:
Corporate notes		2,270			—			(1		)	2,269
Total long-term investments		$	2,270		$	—		$	(1	)	$	2,269

		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

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):

		September 30, 2015
		Cost			Unrealized Losses			Fair Value
Short-term investments:
U.S. government-sponsored enterprise bonds		$	3,363		$	(1	)	$	3,362
Corporate notes		7,461			(3		)	7,458
Total short-term investments		$	10,824		$	(4	)	$	10,820
Long-term investments:
Corporate notes		2,270			(1		)	2,269
Total long-term investments		$	2,270		$	(1	)	$	2,269

		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

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):

		September 30, 2015
		Cost			Unrealized Gains			Unrealized Losses			Fair Value
Due within 1 year		$	21,599		$	2		$	(4	)	$	21,597
Due in 1-2 years		2,270			—			(1		)	2,269
Total		$	23,869		$	2		$	(5	)	$	23,866

		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

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 September 30, 2015 and December 31, 2014 (in thousands):

		September 30, 2015
		Fair Value			Level 1			Level 2			Level 3
Money market funds		$	203		$	203		$	—		$	—
U.S. government-sponsored enterprise bonds		8,440			—			8,440			—
Corporate notes		14,190			—			14,190			—
Municipal bonds		996			—			996			—
Certificates of deposit		405			—			405			—
Commercial paper		650			—			650			—
Total assets		$	24,884		$	203		$	24,681		$	—

		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		$	—

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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=36462937&loc=d3e19190-110258



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-Name Accounting Standards Codification



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



-Publisher FASB



-Name Accounting Standards Codification



-Topic 946



-SubTopic 320



-Section S99



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