Fair Value Measurements

3 Months Ended

Mar. 31, 2013

Fair Value Measurements [Abstract]

Fair Value Measurements

6. Fair Value Measurements

The Company currently has only cash and cash equivalents held and used in the ordinary course of business that must be measured at fair value on a recurring basis. The Company does not have other financial or non-financial assets or liabilities that are required to be measured at fair value on a recurring basis.

Based on the nature of cash and cash equivalents and the underlying securities, there are no realized or unrealized gains and losses recorded from holding these assets.

Short-term investments have remaining contractual maturities on the date of purchase greater than 90 days but less than one year. Investments in debt securities are classified as held-to-maturity. Unrealized gain and losses were not material at March 31, 2013.

The fair value of financial assets measured at fair value on a recurring basis was determined using the following inputs:

	March 31, 2013
	Fair value measurements at reporting date using
	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Money market funds	$	97,563	$	97,563	$	—	$	—
Total	$	97,563	$	97,563	$	—	$	—
	December 31, 2012
	Fair value measurements at reporting date using
	Total		Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)
Money market funds	$	98,562	$	98,562	$	—	$	—
Total	$	98,562	$	98,562	$	—	$	—

In addition, the Company held $3 million of Level 1 U.S. Treasuries at March 31, 2013 which are measured at fair value on a non-recurring basis as these investments are held-to-maturity. There were no U.S. treasuries held at December 31, 2012.