Fair Value Measurements of Assets and Liabilities (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Measurements of Assets and Liabilities

Schedule of assets and liabilities held and their related classifications under the fair value hierarchy

	March 31, 2014			December 31, 2013
Level 1 (A)	$	52,675		$	68,911
Level 2 (B)	9,551			8,694
Level 3 (C)	(6,101		)	(4,490		)
Total	$	56,125		$	73,115

(A) Level 1 assets include money market funds and enhanced income money market funds which are classified as cash equivalents and marketable securities, respectively.

(B) Level 2 assets include certificates of deposit, municipal bonds and corporate bonds which are classified as marketable securities.

Schedule of aggregate fair value of available-for-sale securities and aggregate amount of unrealized gains and losses for available-for-sale securities

The aggregate fair value of available-for-sale securities and aggregate amount of unrealized gains and losses for available-for-sale securities at March 31, 2014 were as follows:

			Aggregate Amount of
	Aggregate		Unrealized
	Fair Value		Gains		Losses
Due in one year or less	$	11,122	$	9	$	(32	)
Due after one year, less than five years	3,833		12		(1		)
	$	14,955	$	21	$	(33	)

The aggregate fair value of available-for-sale securities and aggregate amount of unrealized gains and losses for available-for-sale securities at December 31, 2013 were as follows:

			Aggregate Amount of
	Aggregate		Unrealized
	Fair Value		Gains		Losses
Due in one year or less	$	9,105	$	5	$	(32	)
Due after one year, less than five years	4,988		11		(2		)
	$	14,093	$	16	$	(34	)

Schedule of changes in fair value of Level 3 contingent consideration obligation

	Level 3
Balance at December 31, 2013	$	4,490
Fair value adjustment to contingent consideration obligation included in net income	1,211
Earn-out compensation due to Strumsoft employees	400
Balance at March 31, 2014	$	6,101

- Definition

Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability.

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