Fair Value Measurements

6 Months Ended

Jun. 30, 2012

Fair Value Measurements

2. Fair Value Measurements

Cash and cash equivalents and investments consist of the following:

	June 30,		December 31,
	2012		2011
	(in thousands)
Cash and cash equivalents
Cash	$	8,556	$	10,087
Money market funds		60,954		67,289
Total cash and cash equivalents		69,510		77,376
Long-term investments
U.S. Treasury Bills		2,597		2,599
Total cash and cash equivalents and investments	$	72,107	$	79,975

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 June 30, 2012, the Company’s investment in cash and cash equivalents of $69.5 million and long-term restricted cash of $2.6 million were measured at fair value using Level 1 inputs.