Investments (Tables)

9 Months Ended

Sep. 30, 2013

Investments, Debt and Equity Securities [Abstract]

A summary of the Company’s long-term investments at September 30, 2013 and December 31, 2012 is as follows (in thousands):



	As of September 30, 2013									As of December 31, 2012
	Cost		Unrealized Gross Gains		Unrealized Gross Losses			Fair Value		Cost		Unrealized Gross Gains		Unrealized Gross Losses			Fair Value
Auction Rate Securities	$	4,700	$	—	$	(488	)	$	4,212	$	4,700	$	—	$	(541	)	$	4,159

A summary of the Company’s short-term investments at September 30, 2013 and December 31, 2012 is as follows (in thousands):



	As of September 30, 2013								As of December 31, 2012
	Cost		Unrealized Gross Gains		Unrealized Gross Losses		Fair Value		Cost		Unrealized Gross Gains		Unrealized Gross Losses			Fair Value
Municipal Debt Securities	$	16,530	$	—	$	—	$	16,530	$	12,520	$	—	$	(116	)	$	12,404
Corporate Debt Securities	36,726		2		—		36,728		26,575		—		(139		)	26,436
Commercial Paper	16,447		3		—		16,450		18,464		—		(2		)	18,462
Certificates of Deposits	—		—		—		—		19,047		—		—			19,047
Total	$	69,703	$	5	$	—	$	69,708	$	76,606	$	—	$	(257	)	$	76,349

Schedule of financial assets measured at fair value on a recurring basis

Financial assets measured at fair value on a recurring basis as of September 30, 2013 were as follows (in thousands):



	Quoted Prices in Active Markets for Identical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Money Market Funds (1)	$	14,179	$	—	$	—	$	14,179
Corporate Debt Securities (2)	—		36,728		—		36,728
Commercial Paper (2)	—		16,450		—		16,450
Municipal Debt Securities (2)	—		16,530		—		16,530
Auction rate notes (3)	—		—		4,212		4,212
Total	$	14,179	$	69,708	$	4,212	$	88,099

Financial assets measured at fair value on a recurring basis as of December 31, 2012 were as follows (in thousands):



	Quoted Prices in Active Markets for Identical Assets Level 1		Significant Other Observable Inputs Level 2		Significant Unobservable Inputs Level 3		Total
Money Market Funds (1)	$	13,845	$	—	$	—	$	13,845
Certificates of Deposits (2)	19,047		—		—		19,047
Corporate Debt Securities (2)	—		26,436		—		26,436
Commercial Paper (2)	—		18,462		—		18,462
Municipal Debt Securities (2)	—		12,404		—		12,404
Auction rate notes (3)	—		—		4,159		4,159
Total	$	32,892	$	57,302	$	4,159	$	94,353

__________

(1) Included in cash and cash equivalents

(2) Included in short-term investments

(3) Included in long-term investments

Schedule of changes in Level 3 securities

For the nine months ended September 30, 2013, the changes in the Company’s Level 3 securities (consisting of auction rate notes) were as follows (in thousands):



	Fair Value Measurements Using Significant Unobservable Inputs (Level 3)
Beginning balance, December 31, 2012	$	4,159
Transfers in and/or out of Level 3	—
Total unrealized gains, before tax effect	53
Settlements	—
Ending balance, September 30, 2013	$	4,212

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Emerging Issues Task Force (EITF)

-Number 03-1

-Paragraph 21

-Subparagraph a, b

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 2: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Accounting Standards Codification

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-Publisher FASB

-Name Accounting Standards Codification

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Reference 9: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name Statement of Financial Accounting Standard (FAS)

-Number 115

-Paragraph 19, 20, 21

-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

Reference 10: http://www.xbrl.org/2003/role/presentationRef

-Publisher FASB

-Name FASB Staff Position (FSP)

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-LegacyDoc This reference is SUPERSEDED by the Accounting Standards Codification effective for interim and annual periods ending after September 15, 2009. This reference is included to help users transition from the previous accounting hierarchy and will be removed from future versions of this taxonomy.

+ Details

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

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