Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Fair Value Measurements

Schedule of assets measured at fair value on a recurring basis

As of March 31, 2015, 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 March 31, 2015
	Total		Level 1		Level 2		Level 3
Marketable Securities
Bonds and bond funds	$	377,558	$	—	$	377,558	$	—
Asset backed securities	87		—		87		—
	377,645		—		377,645		—
Cash, Cash Equivalents and Restricted Cash	102,690		102,690		—
Other Assets	2,308		—		—		(a) 2,308
Total Assets Measured at Fair Value	$	482,643	$	102,690	$	377,645	$	2,308

	Fair Value Measurements as of December 31, 2014
	Total		Level 1		Level 2		Level 3
Marketable Securities
Bonds and bond funds	$	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	2,309		—		—		(a) 2,309
Total Assets Measured at Fair Value	$	561,439	$	143,857	$	415,273	$	2,309

(a) Comprises of auction rate securities which is reflected in long-term “Other assets” in the Company’s unaudited condensed consolidated balance sheets

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 March 31, 2015 (in thousands):

Fair Value Measurements Using Significant Unobservable Inputs

(Level 3)

	Auction Rate Securities
Balance at December 31, 2014	$	2,309
Total realized and unrealized gains or (losses)
Included in earnings	—
Included in other comprehensive income	(1		)
Transferred out	—
Settlements	—
Balance at March 31, 2015	$	2,308