Fair Value Measurements

6 Months Ended

Jun. 30, 2015

Fair Value Disclosures [Abstract]

Fair Value Measurements

10. Fair Value Measurements

Fair Value of Financial Assets

The Company’s financial assets measured at fair value on a recurring basis subject to disclosure requirements at June 30, 2015, and December 31, 2014 were as follows (in thousands):

	Balance at  June 30,  2015		Quoted  Prices in  Active  Markets  for  Identical  Assets (Level 1)		Significant  Other  Observable  Inputs (Level 2)		Significant Unobserved  Inputs (Level 3)
Cash equivalents:
Money market mutual funds	$	1	$	1	$	—	$	—
Total cash equivalents		1		1		—		—
Short-term investments:
Certificates of deposit		23		—		23		—
Other commodities		6		—		6		—
Commercial paper		34		—		34		—
Total short-term investments		63		—		63		—
Total financial assets measured at fair value	$	64	$	1	$	63	$	—

	Balance at December 31,  2014		Quoted Prices  in Active  Markets for Identical  Assets (Level 1)		Significant  Other  Observable  Inputs (Level 2)		Significant Unobserved  Inputs (Level 3)
Cash equivalents:
Money market mutual funds	$	1	$	1	$	—	$	—
Total cash equivalents		1		1		—		—
Short-term investments:
Certificates of deposit		123		—		123		—
Other Commodities		6		—		6		—
Total short-term investments		129		—		129		—
Total financial assets measured at fair value	$	130	$	1	$	129	$	—

The Company held no Level 3 investments at June 30, 2015 and at December 31, 2014.

Investments

For investments that have quoted market prices in active markets, the Company uses the quoted market prices as fair value and includes these prices in the amounts disclosed in Level 1 of the hierarchy. The Company receives the quoted market prices from a third party, nationally recognized pricing service (“pricing service”). When quoted market prices are unavailable, the Company utilizes a pricing service to determine a single estimate of fair value, which is mainly for its fixed maturity investments. The fair value estimates provided from this pricing service are included in the amount disclosed in Level 2 of the hierarchy. The Company bases all of its estimates of fair value for assets on the bid price as it represents what a third party market participant would be willing to pay in an arm’s length transaction.

The Company validates the prices received from the pricing service using various methods including, applicability of Federal Deposit Insurance Corporation or other national government insurance or guarantees, comparison of proceeds received on individual investments subsequent to reporting date, prices received from publicly available sources, and review of transaction volume data to confirm the presence of active markets. The Company does not adjust the prices received from the pricing service unless such prices are determined to be inconsistent. At June 30, 2015 and December 31, 2014, the Company did not adjust prices received from the pricing service.

Trade accounts receivable, net: The carrying value reported in the Consolidated Balance Sheets approximates fair value and is net of allowances for doubtful accounts and returns which estimate customer non-performance risk.

Trade accounts payable and accrued liabilities: The carrying value reported in the Consolidated Balance Sheets for these items approximates their fair value, which is the likely amount that the liability with short settlement periods would be transferred to a market participant with a similar credit standing as the Company.