Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Measurements

The following is a summary of available-for-sale marketable securities held as of December 31, 2013 and 2012 (in thousands):



			Gross Unrealized					Aggregate Fair Value		Classification on Balance Sheet
	Amortized Cost									Short-Term Marketable Securities		Long-Term Marketable Securities
As of December 31, 2013	Amortized Cost		Gains		Losses					Short-Term Marketable Securities		Long-Term Marketable Securities
Certificates of deposit	$	222	$	—	$	—		$	222	$	173	$	49
Corporate bonds	736,945		1,197		(281		)	737,861		278,318		459,543
U.S. government agency obligations	174,982		51		(85		)	174,948		61,514		113,434
	$	912,149	$	1,248	$	(366	)	$	913,031	$	340,005	$	573,026

As of December 31, 2012
Certificates of deposit	$	3,100	$	—	$	—		$	3,100	$	3,057	$	43
Commercial paper	7,481		2		(1		)	7,482		7,482		—
Corporate bonds	691,931		1,269		(205		)	692,995		217,548		475,447
U.S. government agency obligations	189,607		95		(28		)	189,674		7,505		182,169
	$	892,119	$	1,366	$	(234	)	$	893,251	$	235,592	$	657,659

Schedule of Fair Value Measurement

The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities as of December 31, 2013 and 2012 (in thousands):



	Total Fair Value			Fair Value Measurements at Reporting Date Using
	Total Fair Value			Level 1		Level 2		Level 3
As of December 31, 2013
Cash Equivalents and Marketable Securities:
Money market funds	$	40,482		$	40,482	$	—	$	—
Certificates of deposit	3,418			3,418		—		—
Commercial paper	29,999			—		29,999		—
U.S. government agency obligations	174,948			—		174,948		—
Corporate bonds	737,861			—		737,861		—
	$	986,708		$	43,900	$	942,808	$	—
Other Assets:
Note receivable	$	22,879		$	—	$	—	$	22,879

Other Liabilities:
Contingent consideration obligation related to Velocius acquisition	$	(2,600	)	$	—	$	—	$	(2,600	)

As of December 31, 2012
Cash Equivalents and Marketable Securities:
Money market funds	$	22,255		$	22,255	$	—	$	—
Certificates of deposit	7,473			7,473		—		—
Commercial paper	9,482			—		9,482		—
U.S. government agency obligations	189,674			—		189,674		—
Corporate bonds	692,995			—		692,995		—
	$	921,879		$	29,728	$	892,151	$	—
Other Liabilities:
Contingent consideration obligation related to Verivue acquisition	$	(1,200	)	$	—	$	—	$	(1,200	)

Schedule of Contractual Maturities of Marketable Securities and Other Investment Related Assets

Contractual maturities of the Company’s available-for-sale marketable securities held as of December 31, 2013 and 2012 were as follows (in thousands):



	December 31, 2013		December 31, 2012
Due in 1 year or less	$	340,005	$	235,592
Due after 1 year through 5 years	573,026		657,659
	$	913,031	$	893,251

Schedule of Activity of Major Classes of Assets Measured at Fair Value Using Level 3 Inputs

The following table reflects the activity for the Company’s major classes of assets and liabilities measured at fair value using Level 3 inputs for the years ended December 31, 2013 and 2012 (in thousands):



	Other Assets: Note Receivable		Other Liabilities: Contingent Consideration Obligation
Balance, January 1, 2012	$	—	$	—
Contingent consideration obligation related to Verivue acquisition	—		(1,200		)
Balance, December 31, 2012	—		(1,200		)
Fair value adjustment to contingent consideration for acquisition of Verivue included in general and administrative expense	—		1,200
Contingent consideration obligation related to Velocius acquisition	—		(2,600		)
Convertible note receivable from divestiture of a business	18,882		—
Unrealized gain on convertible note receivable included in other comprehensive income	3,997		—
Balance, December 31, 2013	$	22,879	$	(2,600	)

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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