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Fair value measurements (Tables)
12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Recorded Amount of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table sets forth the Company’s assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2015 and 2014 (in thousands):

 

Description

 

Total

 

 

Quoted

prices in

active

markets

(Level 1)

 

 

Significant

other

observable

inputs

(Level 2)

 

 

Significant

unobservable

inputs

(Level 3)

 

December 31, 2015

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

164,269

 

 

$

158,269

 

 

$

6,000

 

 

$

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency securities and

   treasuries

 

 

687,147

 

 

 

 

 

 

687,147

 

 

 

 

Certificates of deposit

 

 

14,347

 

 

 

 

 

 

14,347

 

 

 

 

Total assets

 

$

865,763

 

 

$

158,269

 

 

$

707,494

 

 

$

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

8,665

 

 

$

 

 

$

 

 

$

8,665

 

Total liabilities

 

$

8,665

 

 

$

 

 

$

 

 

$

8,665

 

December 31, 2014

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash and cash equivalents

 

$

347,845

 

 

$

347,845

 

 

$

 

 

$

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government agency securities

 

 

131,536

 

 

 

 

 

 

131,536

 

 

 

 

Certificates of deposit

 

 

12,622

 

 

 

 

 

 

12,622

 

 

 

 

Total assets

 

$

492,003

 

 

$

347,845

 

 

$

144,158

 

 

$

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Contingent consideration

 

$

6,796

 

 

$

 

 

$

 

 

$

6,796

 

Total liabilities

 

$

6,796

 

 

$

 

 

$

 

 

$

6,796

 

 

Roll-Forward of Fair Value of the Company's Contingent Consideration Obligations

The table below provides a roll-forward of fair value of the Company’s contingent consideration obligations which include Level 3 inputs (in thousands):

 

 

Year ended December 31,

 

 

2015

 

 

2014

 

Beginning balance

$

6,796

 

 

$

 

Additions

 

 

 

 

6,550

 

Changes in fair value

 

2,869

 

 

 

246

 

Payments

 

(1,000

)

 

 

 

Ending balance

$

8,665

 

 

$

6,796