Fair Value Measurements

9 Months Ended

Sep. 30, 2014

Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]

Fair Value of Financial Instruments

The following table presents the financial instruments that were measured at fair value on a recurring basis at September 30, 2014 by level within the fair value hierarchy (in thousands):



	September 30, 2014
	Level 1		Level 2		Level 3		Total
Money market funds	$	14,600	$	—	$	—	$	14,600
Common shares of CO₂ Solutions	—		1,031		—		1,031
Total	$	14,600	$	1,031	$	—	$	15,631

The following table presents the financial instruments that were measured at fair value on a recurring basis at December 31, 2013 by level within the fair value hierarchy (in thousands):



	December 31, 2013
	Level 1		Level 2		Level 3		Total
Money market funds	$	16,089	$	—	$	—	$	16,089
Corporate bonds	—		1,005		—		1,005
U.S. Treasury obligations	—		2,000		—		2,000
Common shares of CO2 Solutions	—		795		—		795
Total	$	16,089	$	3,800	$	—	$	19,889

Fair Value of Assets Held for Sale

As of December 31, 2013, Codexis had assets held for sale related to lab equipment located in the United States. The fair value of these assets was determined based on Level 3 inputs, primarily sales data for similar assets. For further discussion, see Note 8, "Assets Held for Sale."

There were no assets held for sale at September 30, 2014, and as such there was no fair value to measure on a non-recurring basis at September 30, 2014.

The fair value of assets held for sale at December 31, 2013, measured on a nonrecurring basis, is as follows (in thousands):



	December 31, 2013
	Level 1		Level 2		Level 3		Total
Assets held for sale	$	—	$	—	$	2,179	$	2,179