Fair Value of Financial Assets and Liabilities (Tables)

12 Months Ended

Dec. 31, 2017

Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present information about the Company’s assets and liabilities as of December 31, 2017 and 2016 that are measured at fair value on a recurring basis and indicate the level of the fair value hierarchy utilized to determine such fair values:

	Fair Value Measurements as of December 31, 2017 Using:
	Level 1		Level 2		Level 3		Not Subject to Leveling ⁽¹⁾		Total
Assets:
Cash Equivalents	$	—	$	—	$	—	$	25,964	$	25,964
Investments:
Commercial Paper		—		6,198		—		—		6,198
Certificates of Deposit		—		8,916		—		—		8,916
Corporate Bonds		—		58,865		—		—		58,865
Government Securities		—		22,954		—		—		22,954
Treasury Bonds		—		16,962		—		—		16,962
	$	—	$	113,895	$	—	$	25,964	$	139,859

⁽¹⁾	Certain cash equivalents and investments that are valued using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.

	Fair Value Measurements as of December 31, 2016 Using:
	Level 1		Level 2		Level 3		Not Subject to Leveling ⁽¹⁾		Total
Assets:
Cash Equivalents	$	—	$	4,740	$	—	$	1,567	$	6,307
Repurchase Agreements		—		7,000		—		—		7,000
Investments:
Commercial Paper		—		19,689		—		—		19,689
Certificates of Deposit		—		10,629		—		—		10,629
Corporate Bonds		—		94,609		—		—		94,609
Government Securities		—		33,466		—		—		33,466
Treasury Bonds		—		17,063		—		—		17,063
	$	—	$	187,196	$	—	$	1,567	$	188,763

⁽¹⁾	Certain cash equivalents and investments that are valued using the net asset value per share (or its equivalent) practical expedient have not been classified in the fair value hierarchy.