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Fair Value Measurements
 9 Months Ended
Sep. 30, 2016
Fair Value, Assets, Liabilities and Stockholders' Equity Measured on Recurring Basis [Abstract]  
Fair Value Measurements
Fair Value Measurements
The following tables present the financial instruments that were measured at fair value on a recurring basis at September 30, 2016 and December 31, 2015 by level within the fair value hierarchy (in thousands):
 
September 30, 2016
 
Level 1
 
Level 2
 
Level 3
 
Total
Money market funds
$
11,153

 
$
—

 
$
—

 
$
11,153

Common shares of CO2 Solutions
—

 
1,527

 
—

 
1,527

Total
$
11,153

 
$
1,527

 
$
—

 
$
12,680

 
December 31, 2015
 
Level 1
 
Level 2
 
Level 3
 
Total
Money market funds
$
11,120

 
$
—

 
$
—

 
$
11,120

Common shares of CO2 Solutions
—

 
1,549

 
—

 
1,549

Total
$
11,120

 
$
1,549

 
$
—

 
$
12,669


We determine the fair value of Level 1 assets using quoted prices in active markets for identical assets. We estimated the fair value of our investment in 10,000,000 common shares of CO2 Solutions using the market value of common shares as determined by trading on the TSX Venture Exchange, and we classified our investment in CO2 Solutions as Level 2 assets due to the volatile and low trading volume. There were no transfers between Level 1 and Level 2 securities in the periods presented. (See also Note 5, "Cash Equivalents and Marketable Securities".)