The Company records debt at its carrying amount. The Company uses a market approach to determine fair value, which results in a Level 2 fair value measurement. As of September 30, 2013 the carrying value of the Company’s debt approximated its fair value. The following table provides the components of debt and weighted average interest rates related to the Company’s outstanding debt instruments (in thousands, except percentages):

		September 30, 2013				December 31, 2012
		Carrying Amount	Weighted Average Interest Rate		Carrying Amount		Weighted Average Interest Rate
Notes payable	$	7,954			$	12,003
Notes payable related to NeoPhotonics Semiconductor acquisition	$	3,570	1.50	%	$	-
Short-term debt		7,000	2.93	%		5,000	2.20	%
Total short-term debt	$	10,570			$	5,000
Long-term notes payable related to NeoPhotonics Semiconductor acquisition	$	7,140	1.50	%	$	-
Long-term debt		19,250	2.93	%		17,167	2.20	%
Total long-term debt	$	26,390			$	17,167