Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value of Assets and Liabilities Measured on Recurring Basis

The following tables provide the assets and liabilities carried at fair value and measured on a recurring basis:



			Fair Value Measurements at Reporting Date Using:
(in thousands)	June 30, 2016		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Cash equivalents	$	354,755	$	354,755	$	—	$	—
Short-term investments	$	410	$	—	$	410	$	—



				Fair Value Measurements at Reporting Date Using:
(in thousands)	December 31, 2015			Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets
Cash equivalents	$	356,924		$	356,924	$	—	$	—
Short-term investments	$	446		$	—	$	446	$	—
Liabilities
Contingent consideration	$	(1,376	)	$	—	$	—	$	(1,376	)

Changes in Level 3 Liabilities Measured at Fair Value on Recurring Basis Using Significant Unobservable Inputs

The following tables present the changes in the Company’s Level 3 liabilities that are measured at fair value on a recurring basis during the three and six months ended June 30, 2016 and 2015:



	Fair Value Measurement Using Significant Unobservable Inputs
(in thousands)	Contingent Consideration
Balance as of January 1, 2016	$	1,376
Contingent payment	(1,448		)
Interest expense and foreign exchange activity included in earnings	72
Balance as of June 30, 2016	$	—

The final payment related to the EVEN contingent consideration was paid in the first quarter of 2016. As a result of making this final payment, the Company no longer has a contingent consideration liability at June 30, 2016.



	Fair Value Measurement Using Significant Unobservable Inputs
(in thousands)	Contingent Consideration
Balance as of January 1, 2015	$	2,621
Interest expense and foreign exchange activity included in earnings	122
Balance as of March 31, 2015	$	2,743
Contingent payment	(1,456		)
Interest expense and foreign exchange activity included in earnings	107
Balance as of June 30, 2015	$	1,394