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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Fair Value Hierarchy for Financial Assets Measured at Fair Value on Recurring Basis

The following table represents the fair value hierarchy for our financial assets (cash equivalents and marketable securities) measured at fair value on a recurring basis (in thousands):

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

March 31, 2018

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

$

25,923

 

 

$

-

 

 

$

-

 

 

$

25,923

 

U.S. treasuries

 

-

 

 

 

49,206

 

 

 

-

 

 

 

49,206

 

U.S. government agency securities

 

-

 

 

 

54,644

 

 

 

-

 

 

 

54,644

 

Corporate debt securities

 

-

 

 

 

119,099

 

 

 

-

 

 

 

119,099

 

Total

$

25,923

 

 

$

222,949

 

 

$

-

 

 

$

248,872

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

December 31, 2017

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

$

22,543

 

 

$

-

 

 

$

-

 

 

$

22,543

 

U.S. treasuries

 

-

 

 

 

45,534

 

 

 

-

 

 

 

45,534

 

U.S. government agency securities

 

-

 

 

 

86,820

 

 

 

-

 

 

 

86,820

 

Corporate debt securities

 

-

 

 

 

32,916

 

 

 

-

 

 

 

32,916

 

Total

$

22,543

 

 

$

165,270

 

 

$

-

 

 

$

187,813