Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2017

Fair Value Assets and Liabilities Measured on Recurring Basis

The composition of our financial assets and liabilities among the three Levels of the fair value hierarchy are as follows (in thousands):

	March 31, 2017
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds ⁽¹⁾	$	379,050	$	—	$	—	$	379,050
Corporate debt securities ⁽¹⁾		—		201,083		—		201,083
Total	$	379,050	$	201,083	$	—	$	580,133
Liabilities:
Contingent consideration	$	—	$	—	$	807	$	807

	December 31, 2016
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds ⁽¹⁾	$	439,330	$	—	$	—	$	439,330
U.S. government and government agency debt securities		—		19,987		—		19,987
Corporate debt securities ⁽¹⁾		—		269,768		—		269,768
Total	$	439,330	$	289,755	$	—	$	729,085
Liabilities:
Contingent consideration	$	—	$	—	$	901	$	901

⁽¹⁾	Includes amounts classified as cash and cash equivalents.

Fair Value Liabilities Measured on Recurring Basis

The following table presents the activity for the first quarter of 2017 related to our Level 3 liabilities (in thousands):

Level 3 Liabilities:	Zindagi		PuzzleSocial			Total
Contingent consideration – December 31, 2016	$	180	$	721		$	901
Fair value adjustments		—		(94	)		(94	)
Contingent consideration – March 31, 2017	$	180	$	627		$	807

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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