Marketable Securities and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Marketable Securities and Fair Value Measurements

Schedule of marketable securities

The following table presents details of the Company’s marketable securities as of June 30, 2015 (in thousands):

	June 30, 2015
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
Short-term:
Investment securities	$	11,428	$	3	$	(6	)	$	11,425
Long-term:
Investment securities	78,775		37		(82		)	78,730
Total	$	90,203	$	40	$	(88	)	$	90,155

Schedule of the fair value of the Company's financial assets measured at fair value on a recurring basis based on the three-tier value hierarchy

The following tables set forth the fair value of the Company’s financial assets measured at fair value on a recurring basis as of June 30, 2015 and December 31, 2014 based on the three-tier value hierarchy (in thousands):

	June 30, 2015
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	195,173	$	—	$	—	$	195,173
Short-term investments:
Certificates of deposit	40,000		—		—		40,000
Investment securities	—		11,425		—		11,425
Long-term:
Investment securities	—		78,730		—		78,730
Total	$	235,173	$	90,155	$	—	$	325,328

	December 31, 2014
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	302,595	$	—	$	—	$	302,595
Short-term investments:
Certificates of deposit	60,000		—		—		60,000
Restricted cash:
Money market funds	302		—		—		302
Total	$	362,897	$	—	$	—	$	362,897