Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2012

Fair Value Measurements [Abstract]

Valuation of the company's assets measured at fair value

The following table summarizes the valuation of the Company’s assets and liabilities measured at fair value as categorized based on the hierarchy described in Note 2.

	Level 1		Level 2			Level 3		Total
	(In thousands)
As of March 31, 2012
Money market funds	$	96,350	$	—		$	—	$	96,350
Securities available-for-sale
U.S. government obligations		—		41,569			—		41,569
Municipal securities		—		16,477			—		16,477
Corporate bonds		—		2,040			—		2,040
Foreign currency forward contract		—		(311	)		—		(311	)
	$	96,350	$	59,775		$	—	$	156,125
As of December 31, 2011
Money market funds	$	111,256	$	—		$	—	$	111,256
Securities available-for-sale
U.S. government obligations		—		55,460			—		55,460
Municipal securities		—		20,612			—		20,612
Corporate bonds		—		2,038			—		2,038
Foreign currency forward contract		—		155			—		155
	$	111,256	$	78,265		$	—	$	189,521

Summary of the foreign currency forward contract

	As of
	March 31, 2012			December 31, 2011
	(In thousands)
Notional value	$	28,780		$	28,671
Fair value of notional		29,091			28,516
Gross and net fair value (liability) asset	$	(311	)	$	155

Summary of the company's securities available-for-sale

The following is a summary of the Company’s securities available-for-sale:

	Amortized cost		Gross unrealized gains		Gross unrealized losses			Estimated fair value
	(In thousands)
As of March 31, 2012
U.S. government obligations	$	40,275	$	1,294	$	—		$	41,569
Municipal securities		16,473		6		(2	)		16,477
Corporate bonds		2,032		8		—			2,040
Total securities available-for-sale	$	58,780	$	1,308	$	(2	)	$	60,086
As of December 31, 2011
U.S. government obligations	$	53,832	$	1,628	$	—		$	55,460
Municipal securities		20,613		7		(8	)		20,612
Corporate bonds		2,028		10		—			2,038
Total securities available-for-sale	$	76,473	$	1,645	$	(8	)	$	78,110

Summary of contractual maturities of securities available-for-sale

The following table summarizes the contractual maturities of securities available-for-sale:

	As of
	March 31, 2012		December 31, 2011
	(In thousands)
Less than one year	$	13,377	$	31,554
Due in 1 - 5 years		46,709		46,556
Total securities available-for-sale	$	60,086	$	78,110

Fair values and unrealized losses on securities available-for-sale

The following table provides fair values and unrealized losses on securities available-for-sale and by the aging of the securities’ continuous unrealized loss position:

	Less than Twelve Months					Twelve Months or More				Total
	Estimated fair value		Gross unrealized losses			Estimated fair value		Gross unrealized losses		Estimated fair value		Gross unrealized losses
	(In thousands)
As of March 31, 2012
U.S. government obligations	$	—	$	—		$	—	$	—	$	—	$	—
Municipal securities		5,435		(2	)		—		—		5,435		(2	)
Corporate bonds		—		—			—		—		—		—
Total	$	5,435	$	(2	)	$	—	$	—	$	5,435	$	(2	)
As of December 31, 2011
U.S. government obligations	$	—	$	—		$	—	$	—	$	—	$	—
Municipal securities		9,529		(8	)		—		—		9,529		(8	)
Corporate bonds		—		—			—		—		—		—
Total	$	9,529	$	(8	)	$	—	$	—	$	9,529	$	(8	)