FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2015

Fair value of marketable securities and investments

The fair-value hierarchy of the Company's marketable securities at March 31, 2015, and December 31, 2014, was as follows (in thousands):



	Fair Value Measurement at
	March 31, 2015
Description	March 31, 2015		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Commercial paper	$	27,538	$	—	$	27,538
Money market funds	3,419		3,419		—
Corporate securities	87,560		—		87,560
Total	$	118,517	$	3,419	$	115,098



	Fair Value Measurement at
	December 31, 2014
Description	December 31, 2014		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Money market funds	$	3,370	$	3,370	$	—
Corporate securities	114,575		—		114,575
Total	$	117,945	$	3,370	$	114,575

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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