Fair Value (Tables)

12 Months Ended

Dec. 31, 2017

Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis

The following is a list of the Company’s assets required to be measured at fair value on a recurring basis and where they were classified within the hierarchy as of December 31, 2017 (in thousands):



	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Marketable securities
Money market funds (1)	$	40,413	$	40,413	$	—	$	—
Certificates of deposit (2)	8,540		—		8,540		—
Corporate bonds and notes (2)	45,573		—		45,573		—
Treasury and agency notes and bills (2)	5,929		—		5,929		—
Commercial paper (2)	2,390		—		2,390		—
Total Assets	$	102,845	$	40,413	$	62,432	$	—

The following footnotes indicate where the noted items were recorded in the Consolidated Balance Sheet at December 31, 2017:


(1)	Reported as cash and cash equivalents.


(2)	Reported as short-term investments.

The following is a list of the Company’s assets required to be measured at fair value on a recurring basis and where they were classified within the hierarchy as of December 31, 2016 (in thousands):



	Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Marketable securities
Money market funds (1)	$	14,146	$	14,146	$	—	$	—
Corporate bonds and notes (2)	36,502		—		36,502		—
Treasury and agency notes and bills (2)	5,972		—		5,972		—
Commercial paper (2)	5,216		—		5,216		—
Total Assets	$	61,836	$	14,146	$	47,690	$	—

The following footnotes indicate where the noted items were recorded in the Consolidated Balance Sheet at December 31, 2016:


(1)	Reported as cash and cash equivalents.


(2)	Reported as short-term investments.

Fair Value Measurements, Nonrecurring

The following table represents the activity in level 3 assets (in thousands):



	Assets held for sale		Assets included in discontinued operations and held for sale		Other
Balance at December 31, 2015	$	—	$	—	$	4,280
Assets transferred	—		—		—
Assets sold	—		—		—
Assets received	—		—		—
Balance at December 31, 2016	$	—	$	—	$	4,280	(1	)
Assets transferred	—		—		—
Assets sold	—		—		—
Assets received	—		—		1,664		(2	)
Balance at December 31, 2017	$	—	$	—	$	5,944	(3	)

(1) This amount represents the value of the patents that were received as part of licensing settlements with customers. These assets were valued using a methodology based on an arms-length purchase price of bulk patent assets, with adjustments based on limited pick rights, the total available market, and remaining average patent life.

(2) This amount represents the value of patents received as part of a licensing settlement with a customer. These assets were valued using a cost methodology based on prior arms-length patent purchases by both the company and other third party acquirers.

(3) The accumulated amortization associated with the patents was $2.3 million and $1.6 million as of December 31, 2017 and 2016, respectively.