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FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2013
Cash Equivalents and Marketable Securities at Fair Value

The fair value hierarchy of the Company’s cash equivalents and marketable securities at fair value is as follows:

 

          Fair Value Measurements at Reporting
Date Using		  
  (in thousands)     March 31, 2013       Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		  

Money market funds

    $ 589        $ 589        $ —    
 

 

 

    

 

 

    

 

 

  
     

Marketable securities:

      

Municipal bonds

    $ 36,009          $ 15,186        $ 20,823    

Corporate bonds

     19,865         19,865         —    

Certificate of deposits

     1,250         —         1,250    
 

 

 

    

 

 

    

 

 

  

Total marketable securities

    $             57,124        $                 35,051        $             22,073    
 

 

 

    

 

 

    

 

 

  

 

                                                                             
          Fair Value Measurements at Reporting
Date Using		  
  (in thousands)       December 31,    
2012		     Quoted Prices
in Active
Markets for
Identical Assets
(Level 1)		     Significant
Other
Observable
Inputs
(Level 2)		  

Money market funds

    $ 2,873        $ 2,873        $ —    
 

 

 

    

 

 

    

 

 

  
     

Marketable securities:

      

Municipal bonds

    $ 30,526          $ 11,966        $ 18,560    

Corporate bonds

     14,934         14,934         —    
 

 

 

    

 

 

    

 

 

  

Total marketable securities

    $ 45,460        $ 26,900        $ 18,560