Investments and Fair Value Measurements

9 Months Ended

Sep. 30, 2013

Disclosure Text Block [Abstract]

Investments and Fair Value Measurements

Investments and Fair Value Measurements

The Company has classified its short-term investments in commercial paper and corporate bonds as held-to-maturity and, as such, has recorded them at amortized cost. Interest earned on these debt securities is included in "Other (income) expense, net" within the Consolidated Statements of Operations. The gross unrecognized holding gains and losses on these assets for the three and nine months ended September 30, 2013 were not material.

The following tables summarize these short-term investments as of September 30, 2013 and December 31, 2012:

			September 30, 2013
Security Type	Maturity	Consolidated Balance Sheet Classification	Amortized Cost
Commercial Paper	192 Days	Investments (short-term)	$	2,398
Corporate Notes	37 to 318 Days	Investments (short-term)	32,323
Total			$	34,721
			December 31, 2012
Security Type	Maturity	Consolidated Balance Sheet Classification	Amortized Cost
Corporate Bonds	44 to 72 Days	Cash and cash equivalents	$	2,509
Commercial Paper	363 Days	Investments (short-term)	2,493
Corporate Notes	152 to 365 Days	Investments (short-term)	29,056
Total			$	34,058

The fair value framework under the FASB’s guidance requires the categorization of assets and liabilities into three levels based upon the assumptions used to measure the assets or liabilities. Level 1 provides the most reliable measure of fair value, whereas Level 3, if applicable, generally would require significant management judgment. The three levels for categorizing assets and liabilities under the fair value measurement requirements are as follows:

• Level 1:  Fair value measurement of the asset or liability using observable inputs such as quoted prices in active markets for identical assets or liabilities;

• Level 2:  Fair value measurement of the asset or liability using inputs other than quoted prices that are observable for the applicable asset or liability, either directly or indirectly, such as quoted prices for similar (as opposed to identical) assets or liabilities in active markets and quoted prices for identical or similar assets or liabilities in markets that are not active; and

• Level 3:  Fair value measurement of the asset or liability using unobservable inputs that reflect the Company’s own assumptions regarding the applicable asset or liability.

During the nine months ended September 30, 2013, there were no transfers in or out of the Company’s Level 1, Level 2 or Level 3 assets or liabilities.

The following tables summarize those of the Company's assets that were measured at fair value on a recurring basis as of September 30, 2013 and December 31, 2012:

			September 30, 2013
	Total		Level 1	Level 2	Level 3
Asset:
Money market funds as cash equivalents	$	5,124	5,124	—	—

			December 31, 2012
	Total		Level 1	Level 2	Level 3
Asset:
Money market funds as cash equivalents	$	5,642	5,642	—	—