Assets and Liabilities Measured at Fair Value

9 Months Ended

Sep. 30, 2011

Assets and Liabilities Measured at Fair Value [Abstract]

ASSETS AND LIABILITIES MEASURED AT FAIR VALUE

NOTE 7. ASSETS AND LIABILITIES MEASURED AT FAIR VALUE

The fair value hierarchy established by U.S GAAP prioritizes the inputs used to measure fair value into the following levels:

Level 1: Quoted market prices in active markets for identical assets or liabilities at the measurement date.

Level 2: Quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets and liabilities in markets that are not active; or other inputs that are observable and can be corroborated by observable market data.

Level 3: Inputs reflect management’s best estimates and assumptions of what market participants would use in pricing the asset or liability at the measurement date. The inputs are unobservable in the market and significant to the valuation of the instruments.

The following tables present information about our financial assets measured at fair value on a recurring basis as of September 30, 2011 and December 31, 2010, and indicate the fair value hierarchy of the valuation techniques utilized to determine such fair value (in thousands):

As of September 30, 2011:	Level 1		Level 2		Level 3		Total
Commercial paper	$	—	$	1,349	$	—	$	1,349
Certificates of deposit		—		6,985		—		6,985
Corporate bonds/notes		6,251		—		—		6,251
Agency bonds/notes		8,084		—		—		8,084
Total	$	14,335	$	8,334	$	—	$	22,669

As of December 31, 2010:	Level 1		Level 2		Level 3		Total
Treasury bills	$	2,006	$	—	$	—	$	2,006
Certificates of deposit		—		3,126		—		3,126
Corporate bonds/notes		1,004		—		—		1,004
Agency bonds/notes		3,504		—		—		3,504
Total	$	6,514	$	3,126	$	—	$	9,640

We did not have any Level 3 investments or financial liabilities measured at fair value on a recurring basis as of September 30, 2011 and December 31, 2010. In the first quarter of 2011, we reclassified our investments in certificates of deposits from Level 1 into Level 2 as we believe this more appropriately reflects the level of inputs available for valuing these financial instruments. There were no transfers in and out of Level 1, 2 or 3 fair value measurements during the nine months ended September 30, 2011.