Investments (Tables)

3 Months Ended

Mar. 31, 2015

Investments, Debt and Equity Securities [Abstract]

Summary of short-term investments

A summary of the Company’s short-term investments at March 31, 2015 and December 31, 2014 was as follows (in thousands):

	March 31, 2015									December 31, 2014
	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Corporate Debt Securities	$	49,116	$	3	$	(37	)	$	49,082	$	43,327	$	3	$	(68	)	$	43,262
Commercial Paper	9,480		3		(2		)	9,481		14,975		5		(3		)	14,977
Municipal Securities	5,131		1		—			5,132		5,191		3		—			5,194
U.S. Government Agencies Securities	2,000		2		—			2,002		2,000		—		(5		)	1,995
Total	$	65,727	$	9	$	(39	)	$	65,697	$	65,493	$	11	$	(76	)	$	65,428

Summary of long-term investments

A summary of the Company’s long-term investments at March 31, 2015 and December 31, 2014 was as follows (in thousands):

	March 31, 2015									December 31, 2014
	Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Auction-rate Notes	$	1,500	$	—	$	(64	)	$	1,436	$	1,500	$	—	$	(64	)	$	1,436

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

Financial assets measured at fair value on a recurring basis at March 31, 2015 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)	$	9,704	$	—	$	—	$	9,704
Corporate Debt Securities (2)	—		49,082		—		49,082
Commercial Paper (2)	—		9,481		—		9,481
Municipal Securities (2)	—		5,132		—		5,132
U.S. Government Agencies Securities (2)	—		2,002		—		2,002
Auction-rate Notes (3)	—		—		1,436		1,436
Total	$	9,704	$	65,697	$	1,436	$	76,837

Financial assets measured at fair value on a recurring basis at December 31, 2014 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)	$	4,725	$	—	$	—	$	4,725
Corporate Debt Securities (2)	—		43,262		—		43,262
Commercial Paper (2)	—		14,977		—		14,977
Municipal Securities (2)	—		5,194		—		5,194
U.S. Government Agencies Securities (2)	—		1,995		—		1,995
Auction-rate Notes (3)	—		—		1,436		1,436
Total	$	4,725	$	65,428	$	1,436	$	71,589

Schedule of changes in Level 3 securities

For the three months ended March 31, 2015, 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, 2014	$	1,436
Transfers in and/or out of Level 3	—
Total unrealized gains, before tax, included in other comprehensive income	—
Sales	—
Ending balance, March 31, 2015	$	1,436