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

3 Months Ended

Mar. 31, 2014

Cash and Cash Equivalents [Abstract]

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

Cash and Cash Equivalents and Fair Value of Financial Instruments

Cash and cash equivalents consist of the following significant asset investment classes as of March 31, 2014 and December 31, 2013 (in thousands):

	March 31, 2014
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash / Cash Equivalents		Security Classification
Cash	$	52,906	$	—	$	—	$	52,906	$	52,906	N/A
Money market fund	54,652		—		—		54,652		54,652		Available for sale
Total cash and cash equivalents	$	107,558	$	—	$	—	$	107,558	$	107,558

c	December 31, 2013
	Amortized Cost		Unrealized Gains		Unrealized Losses		Fair Value		Cash / Cash Equivalents		Security Classification
Cash	$	38,823	$	—	$	—	$	38,823	$	38,823	N/A
Money market fund	65,708		—		—		65,708		65,708		Available for sale
Total cash and cash equivalents	$	104,531	$	—	$	—	$	104,531	$	104,531

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. We did not hold any Level 2 and Level 3 assets or liabilities as of March 31, 2014 and December 31, 2013.

The following table shows our financial assets measured at fair value, on a recurring basis, with money market funds recorded within cash and cash equivalents (in thousands):

	Quoted Prices in Active Markets for Identical Instruments (Level 1)		Total Fair Value
Money market fund at March 31, 2014	$	54,652	$	54,652
Money market fund at December 31, 2013	$	65,708	$	65,708