Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2014

Valuation of Company's Assets and Liabilities 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
As of June 30, 2014	(In thousands)
Money market funds	$	80,400	$	—		$	—	$	80,400
Securities available-for-sale
Municipal securities		—		16,594			—		16,594
Corporate bonds		—		49,148			—		49,148
Foreign currency forward position		—		(293	)		—		(293	)
	$	80,400	$	65,449		$	—	$	145,849
As of December 31, 2013
Money market funds	$	90,536	$	—		$	—	$	90,536
Securities available-for-sale
Municipal securities		—		16,052			—		16,052
Corporate bonds		—		51,690			—		51,690
Foreign currency forward position		—		(472	)		—		(472	)
	$	90,536	$	67,270		$	—	$	157,806

Summary of Foreign Currency Forward Contracts

A summary of the foreign currency forward contract is as follows:

	As of
	June 30, 2014			December 31, 2013
	(In thousands)
Notional value	$	35,027		$	29,431
Fair value of notional		35,320			29,903
Fair value of the liability	$	(293	)	$	(472	)

Summary of Company's Securities Available-for-Sale

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

			Gross		Gross			Estimated
	Amortized		unrealized		unrealized			fair
	cost		gains		losses			value
	(In thousands)
As of June 30, 2014
Municipal securities	$	16,585	$	11	$	(2	)	$	16,594
Corporate bonds		48,987		168		(7	)		49,148
Total securities available-for-sale	$	65,572	$	179	$	(9	)	$	65,742
As of December 31, 2013
Municipal securities	$	16,049	$	9	$	(6	)	$	16,052
Corporate bonds		51,579		124		(13	)		51,690
Total securities available-for-sale	$	67,628	$	133	$	(19	)	$	67,742

Summary of Contractual Maturities of Securities Available-for-Sale

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

	As of
	June 30, 2014		December 31, 2013
	(In thousands)
Less than one year	$	24,564	$	12,332
Due in 1 - 5 years		41,178		55,410
Total securities available-for-sale	$	65,742	$	67,742

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 as of June 30, 2014 and December 31, 2013:

	Less than Twelve Months					Twelve Months or More				Total
	Estimated		Gross			Estimated		Gross		Estimated		Gross
	fair		unrealized			fair		unrealized		fair		unrealized
	value		losses			value		losses		value		losses
	(In thousands)
As of June 30, 2014
Municipal securities	$	3,529	$	(2	)	$	—	$	—	$	3,529	$	(2	)
Corporate bonds		4,121		(7	)		—		—		4,121		(7	)
Total	$	7,650	$	(9	)	$	—	$	—	$	7,650	$	(9	)
As of December 31, 2013
Municipal securities	$	4,955	$	(6	)	$	—	$	—	$	4,955	$	(6	)
Corporate bonds		10,728		(13	)		—		—		10,728		(13	)
Total	$	15,683	$	(19	)	$	—	$	—	$	15,683	$	(19	)