Fair Value Measurement of Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2014

Summary of Company's Financial Instruments, Fair Value on a Recurring Basis

The following table summarizes the Company’s financial instruments measured at fair value on a recurring basis in accordance with the authoritative guidance for fair value measurements as of December 31, 2014 (in thousands):



Description	Balance as of December 31, 2014		Level 1		Level 2
Assets:
Cash equivalents
Money market funds	$	1,134	$	1,134	$	—
Certificates of deposit	980		—		980
Total cash equivalents	$	2,114	$	1,134	$	980



Description	Balance as of December 31, 2013		Level 1		Level 2
Assets:
Cash equivalents
US Treasury securities	$	487	$	—	$	487
Total cash equivalents	487		—		487
Short-term marketable securities:
Available-for-sale:
Government agency securities	2,351		—		2,351
Municipal bonds	2,829		—		2,829
Certificates of deposit	3,360		—		3,360
Corporate debentures / bonds	10,638		—		10,638
Total short-term marketable securities	19,178		—		19,178
Long-term marketable securities:
Available-for-sale:
Certificates of deposit	1,300		—		1,300
Corporate debentures / bonds	2,143		—		2,143
Total long-term marketable securities	3,443		—		3,443
Total financial assets	$	23,108	$	—	$	23,108

Fair Value, Liabilities Measured on Recurring and Nonrecurring Basis

Carrying values and fair values of financial instruments that are not carried at fair value in the consolidated balance sheets are as follows (in thousands):



	As of December 31, 2014
Description	Carrying Amount		Fair Value
Revolving credit facility	$	5,158	$	5,158
Total other financial instruments	$	5,158	$	5,158

- 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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- Definition

Tabular disclosure of liabilities, 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

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