Investments and Fair Value Disclosures (Tables)

3 Months Ended

Mar. 31, 2013

The following table summarizes the Company’s investments:


	March 31, 2013
	Contracted Maturity	Carrying Value
			(in thousands	)
Money market funds	demand	$	54,026

Total cash equivalents		$	54,026

U.S. agency notes	76 - 277 days	$	21,526
Commercial paper	2 - 306 days		28,978
Corporate bonds	5 - 299 days		24,389

Total short-term investments		$	74,893

U.S. agency notes	472 - 717 days	$	26,617
Corporate bonds	408 - 593 days		10,818

Total long-term investments		$	37,435

Summary of Carrying and Fair Value of Company's Financial Assets

The following table summarizes the carrying and fair value of the Company’s financial assets (in thousands):


	March 31, 2013				December 31, 2012
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets
Cash equivalents and certificates of deposit *	$	54,610	$	54,610	$	63,795	$	63,795
Short and long-term investments		112,328		112,328		103,177		103,177

Total assets	$	166,938	$	166,938	$	166,972	$	166,972

*	Does not include $38.5 million and $27.4 million of operating cash balances as of March 31, 2013 and December 31, 2012, respectively.

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables summarize the values (in thousands):


	March 31, 2013		Level 1		Level 2		Level 3
Money market funds	$	54,026	$	54,026	$	—	$	—
Certificates of deposit		584		584		—		—

Total cash equivalents and certificates of deposit		54,610		54,610		—		—

U.S. agency notes		48,143		—		48,143		—
Commercial paper		28,978		—		28,978		—
Corporate bonds		35,207		—		35,207		—

Total investments		112,328		—		112,328		—

Total cash equivalents, certificates of deposit and investments	$	166,938	$	54,610	$	112,328	$	—


	December 31, 2012		Level 1		Level 2		Level 3
Money market funds	$	63,189	$	63,189	$	—	$	—
Certificates of deposit		606		606		—		—

Total cash equivalents and certificates of deposit		63,795		63,795		—		—

U.S. agency notes		43,767		—		43,767		—
Commercial paper		27,489		—		27,489		—
Corporate bonds		31,921		—		31,921		—

Total investments		103,177		—		103,177		—

Total cash equivalents, certificates of deposit and investments	$	166,972	$	63,795	$	103,177	$	—

- Definition

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 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+ Details

- Definition

Tabular disclosure of the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments, assets, and liabilities. Such certain disclosures about the financial instruments, assets, and liabilities include: (1) the fair value of the required items together with their carrying amounts (as appropriate) and (2) the methodology and assumptions used in developing such estimates of fair value.

+ References

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

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 14

-Subparagraph a

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 18

-Subparagraph c(2), d, e, f

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 3: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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Reference 4: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 15

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 5: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

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-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13467-108611

Reference 6: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 159

-Paragraph 19

-Subparagraph a, b, c(1), d(1)

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 7: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-URI http://asc.fasb.org/extlink&oid=6447952&loc=d3e13220-108610

Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 157

-Paragraph 32

-Subparagraph a, c(1), c(2), c(3), d

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 107

-Paragraph 10

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 11: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

-Topic 825

-SubTopic 10

-Section 50

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-URI http://asc.fasb.org/extlink&oid=7491637&loc=d3e13476-108611

Reference 12: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612

+ Details

- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

+ References+ Details