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Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2015
Financial Instruments Disclosure [Abstract]  
Fair Value, Assets Measured on Recurring Basis [Table Text Block]

The following tables summarize the estimated fair value and related valuation input hierarchy of our financial assets measured on a recurring basis, which were comprised solely of available-for-sale securities as of each period end:

 

 

 

 

 

Total

 

 

Total

 

 

Total

 

 

Total

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Estimated

 

As of December 31, 2015:

 

Input Level

 

Cost

 

 

Gain

 

 

Loss

 

 

Fair Value

 

 

 

 

 

(in thousands)

 

Money market funds

 

Level 1

 

$

16,364

 

 

$

 

 

$

 

 

$

16,364

 

U.S. Treasury obligations

 

Level 2

 

 

599

 

 

 

 

 

 

(1

)

 

 

598

 

Government agency obligations

 

Level 2

 

 

36,480

 

 

 

1

 

 

 

(88

)

 

 

36,393

 

Corporate debt obligations

 

Level 2

 

 

203,767

 

 

 

8

 

 

 

(339

)

 

 

203,436

 

Commercial paper

 

Level 2

 

 

999

 

 

 

 

 

 

 

 

 

999

 

Asset-backed securities

 

Level 2

 

 

61,304

 

 

 

2

 

 

 

(102

)

 

 

61,204

 

Total available-for-sale securities

 

 

 

 

319,513

 

 

 

11

 

 

 

(530

)

 

 

318,994

 

Less amounts classified as cash equivalents

 

 

 

 

(22,259

)

 

 

 

 

 

1

 

 

 

(22,258

)

Amounts classified as short-term investments

 

 

 

$

297,254

 

 

$

11

 

 

$

(529

)

 

$

296,736

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Total

 

 

Total

 

 

Total

 

 

Total

 

 

 

 

 

Amortized

 

 

Unrealized

 

 

Unrealized

 

 

Estimated

 

As of December 31, 2014:

 

Input Level

 

Cost

 

 

Gain

 

 

Loss

 

 

Fair Value

 

 

 

 

 

(in thousands)

 

Money market funds

 

Level 1

 

$

18,141

 

 

$

 

 

$

 

 

$

18,141

 

U.S. Treasury obligations

 

Level 2

 

 

466

 

 

 

 

 

 

(1

)

 

 

465

 

Government agency obligations

 

Level 2

 

 

12,519

 

 

 

 

 

 

(5

)

 

 

12,514

 

Corporate debt obligations

 

Level 2

 

 

60,052

 

 

 

1

 

 

 

(89

)

 

 

59,964

 

Commercial paper

 

Level 2

 

 

1,200

 

 

 

 

 

 

 

 

 

1,200

 

Asset-backed securities

 

Level 2

 

 

11,838

 

 

 

2

 

 

 

(8

)

 

 

11,832

 

Total available-for-sale securities

 

 

 

 

104,216

 

 

 

3

 

 

 

(103

)

 

 

104,116

 

Less amounts classified as cash equivalents

 

 

 

 

(21,897

)

 

 

 

 

 

 

 

 

(21,897

)

Amounts classified as short-term investments

 

 

 

$

82,319

 

 

$

3

 

 

$

(103

)

 

$

82,219

 

 

Amortized Cost and Fair Value of Available for Sale Securities by Contractual Maturity

The amortized cost and fair value of our available-for-sale securities by contractual maturity were as follows:

 

 

As of December 31, 2015

 

 

As of December 31, 2014

 

 

Amortized

 

 

Estimated

 

 

Amortized

 

 

Estimated

 

 

Cost

 

 

Fair Value

 

 

Cost

 

 

Fair Value

 

 

(in thousands)

 

 

(in thousands)

 

Maturing within one year

$

211,311

 

 

$

211,059

 

 

$

78,649

 

 

$

78,611

 

Maturing in one to five years

 

108,202

 

 

 

107,935

 

 

 

25,567

 

 

 

25,505

 

Total available-for-sale securities

$

319,513

 

 

$

318,994

 

 

$

104,216

 

 

$

104,116