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FAIR VALUE MEASUREMENTS (Tables)
6 Months Ended
Jun. 30, 2013
Fair Value Disclosures [Abstract]  
Assets and liabilities carried at fair value measured on a recurring basis
The following table provides the assets carried at fair value measured on a recurring basis as of June 30, 2013 (in thousands):

 
 
 
Fair Value Measurements, Using
 
Total carrying
value as of
June 30, 2013
 
Quoted prices
in active markets
(Level 1)
 
Significant other observable inputs
(Level 2)
 
Significant unobservable inputs
(Level 3)
Cash equivalents
$
43,998

 
$
43,998

 
$

 
$

Short-term investments
163,983

 
163,983

 

 

Long-term investments
5,781

 
1,481

 

 
4,300

 
The following table provides the assets carried at fair value measured on a recurring basis as of December 31, 2012 (in thousands):

 
 
 
Fair Value Measurements, Using
 
Total carrying
 value as of December 31, 2012
 
Quoted prices
in active markets 
(Level 1)
 
Significant other observable inputs
(Level 2)
 
Significant unobservable inputs
(Level 3)
Cash equivalents
$
63,863

 
$
63,863

 
$

 
$

Short-term investments
158,018

 
154,018

 

 
4,000

Long-term investments
1,270

 
970

 

 
300

Convertible Notes, unobservable input reconciliation
The following table is a reconciliation of the changes in fair value of the Company’s investments in convertible notes for the three and six months ended June 30, 2013, which had been classified in Level 3 in the fair value hierarchy (in thousands):

 
Three Months Ended June 30, 2013
 
Six Months Ended June 30, 2013
Fair value of notes, beginning of period
$
4,300

 
$
4,300

Investments

 

Fair value of notes, end of period
$
4,300

 
$
4,300