Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2014

Schedule of assets measured at fair value on a recurring basis

As of December 31, 2014, the Company held certain assets that are required to be measured at fair value on a recurring basis. Assets measured at fair value on a recurring basis are summarized below (in thousands):

	Fair Value Measurements as of December 31, 2014
	Total		Level 1		Level 2		Level 3
Marketable Securities
Bonds	$	410,163	$	—	$	410,163	$	—
Asset backed securities		5,110		—		5,110		—

		415,273		—		415,273		—
Cash, Cash Equivalents and Restricted Cash		143,857		143,857		—		—
Other Assets(a)		2,309		—		—		2,309

Total Assets Measured at Fair Value	$	561,439		143,857	$	415,273	$	2,309

	Fair Value Measurements as of December 31, 2013
	Total		Level 1		Level 2		Level 3
Marketable Securities
Bonds	$	487,049	$	—	$	487,049	$	—
Commercial paper		190		—		190		—

Asset backed securities		487,239		—		487,239		—
Cash, Cash Equivalents and Restricted Cash	$	182,855		182,855		—		—
Other Assets(a)		2,245		—		—		2,245

Total Assets Measured at Fair Value	$	672,339	$	182,855	$	487,239	$	2,245

(a)

Auction rate securities included in "Other assets" in the Consolidated Balance Sheet

Schedule of fair value measurements using significant unobservable inputs

The following table presents the Company's assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) at December 31, 2014 (in thousands):

Fair Value Measurements Using Significant Unobservable Inputs

(Level 3)

	Auction Rate Securities
Balance at January 1, 2014	$	2,245
Total realized and unrealized gains or (losses)
Included in earnings		—
Included in other comprehensive income		64
Transferred out		—
Settlements		—

Balance at December 31, 2014	$	2,309

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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