FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2016

Fair value of marketable securities and investments

The fair-value hierarchy of the Company's cash equivalents and marketable securities at September 30, 2016, and December 31, 2015, was as follows:



	Fair Value Measurement at
	September 30, 2016
(In thousands)	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Commercial paper	$	88,583	$	—	$	88,583
Money market funds	5,816		5,816		—
Corporate securities	83,822		—		83,822
Total	$	178,221	$	5,816	$	172,405



	Fair Value Measurement at
	December 31, 2015
(In thousands)	Total Fair Value		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
Commercial paper	$	21,194	$	—	$	21,194
Money market funds	104		104		—
Corporate securities	83,769		—		83,769
Total	$	105,067	$	104	$	104,963

- 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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