Cash and Cash Equivalents, Short-term Investments and Fair Value of Financial Instruments

3 Months Ended

Mar. 31, 2013

Cash and Cash Equivalents [Abstract]

Cash and Cash Equivalents, Short-term Investments and Fair Value of Financial Instruments

Cash and Cash Equivalents, Short-term Investments and Fair Value of Financial Instruments

Cash and cash equivalents and short-term investments consist of the following significant investment asset classes, with disclosure of amortized cost, gross unrealized gains and losses, and fair value as of March 31, 2013 and December 31, 2012 (in thousands):

	March 31, 2013
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash / Cash Equivalents		Short-term Investments		Security Classification
Cash	$	29,449	$	—	$	—	$	29,449	$	29,449	$	—	N/A
Money market funds	40,368		—		—		40,368		40,368		—		Available for sale
Total cash, cash equivalents and short-term investments	$	69,817	$	—	$	—	$	69,817	$	69,817	$	—

c	December 31, 2012
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash / Cash Equivalents		Short-term Investments		Security Classification
Cash	$	23,422	$	—	$	—	$	23,422	$	23,422	$	—	N/A
Money market funds	38,892		—		1		38,891		38,891		—		Available for sale
Total cash, cash equivalents and short-term investments	$	62,314	$	—	$	1	$	62,313	$	62,313	$	—

The money market fund is a daily-traded cash equivalent with a price of $1.00, making it a Level 1 asset class, and its carrying cost closely approximates fair value. As demand deposit (cash) balances vary with the timing of collections and payments, the money market fund can cover any surplus or deficit, and thus is considered Available-for-sale.

The following table displays the financial assets measured at fair value, on a recurring basis, with money market funds recorded within cash and cash equivalents and non-U.S Government securities in short-term investments (in thousands):

	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total Fair Value
At March 31, 2013
Money market funds	$	40,368	$	—	—		$	40,368
Total	$	40,368	$	—	—		$	40,368
At December 31, 2012
Money market funds	$	38,891	—		—		$	38,891
Non U.S. Government securities	—		$	—	—		—
Total	$	38,891	$	—	$	—	$	38,891

Current assets and current liabilities are recorded at amortized cost, which approximates fair value due to the short-term maturities implied.