Fair Value Measurements

9 Months Ended

Sep. 30, 2011

Fair Value Measurements

2. Fair Value Measurements

Cash and cash equivalents and investments consist of the following:

	September 30,		December 31,
	2011		2010
	(in thousands)
Cash and cash equivalents
Cash	$	6,698	$	8,379
Money market funds		77,288		131,207
Subtotal cash and cash equivalents		83,986		139,586
Long-term restricted cash
U.S. Treasury Bills		2,598		-
Total cash and cash equivalents and restricted cash	$	86,584	$	139,586

  The inputs to the valuation techniques used to measure fair value are classified into the following categories:

  Level 1 — Quoted prices in active markets for identical assets or liabilities

  Level 2 — Quoted prices for similar assets and liabilities in active markets or inputs that are observable

  Level 3 — Inputs that are unobservable (for example, cash flow modeling inputs based on assumptions)

  As of September 30, 2011, the Company’s investment in cash and cash equivalents of $84.0 million and long-term restricted cash of $2.6 million were measured at fair value using Level 1 inputs.