Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

The following table sets forth the fair value of our financial assets by level within the fair value hierarchy as noted above (in thousands):



	September 30, 2014
	Level I		Level II		Level III		Total
Financial Assets
Money market funds	$	244,187	$	—	$	—	$	244,187
Notes receivable⁽²⁾	—		—		8,000		8,000
Total financial assets	$	244,187	$	—	$	8,000	$	252,187



	December 31, 2013
	Level I		Level II		Level III		Total
Financial Assets
Money market funds	$	47,036	$	—	$	—	$	47,036
Money market funds – restricted cash⁽¹⁾	4,040		—		—		4,040
Notes receivable⁽²⁾	—		—		4,000		4,000
Total financial assets	$	51,076	$	—	$	4,000	$	55,076

⁽¹⁾Included in “Other assets" in the accompanying Condensed Consolidated Balance Sheets.

⁽²⁾Included in “Notes receivable” in the accompanying Condensed Consolidated Balance Sheets. There were no changes in the fair value of the Level III assets during the year ended December 31, 2013. During the three and nine months ended September 30, 2014, we increased the fair value of our Notes receivable by $4.0 million (See “Note 4 – Notes Receivable”). During the nine months ended September 30, 2014 and the year ended December 31, 2013, we had no transfers between levels of the fair value hierarchy of its assets measured at fair value. In October 2014, we received payment in full from the borrower equal to two times our outstanding principal balance as well as the unpaid accrued interest through the payment date.