Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Valuation of Company's Assets and Liabilities Measured at Fair Value

The following table summarizes the valuation of the Company’s assets and liabilities measured at fair value as categorized based on the hierarchy described in Note 2.

	Level 1		Level 2			Level 3		Total
	(In thousands)
As of September 30, 2013
Money market funds	$	73,507	$	—		$	—	$	73,507
Securities available-for-sale:
Municipal securities		—		8,696			—		8,696
Corporate bonds		—		49,741			—		49,741
Foreign currency forward position		—		(326	)		—		(326	)
	$	73,507	$	58,111		$	—	$	131,618
As of December 31, 2012
Money market funds	$	83,519	$	—		$	—	$	83,519
Securities available-for-sale:
U.S. government obligations		—		31,104			—		31,104
Municipal securities		—		17,947			—		17,947
Corporate bonds		—		2,157			—		2,157
Foreign currency forward and option contracts		—		15			—		15
	$	83,519	$	51,223		$	—	$	134,742

Summary of Foreign Currency Forward Contract

A summary of the foreign currency forward contract is as follows:

	As of
	September 30, 2013			December 31, 2012
	(In thousands)
Notional value	$	28,179		$	15,792
Fair value of notional		28,505			15,809
Gross and net fair value (liability)	$	(326	)	$	(17	)

Summary of Company's Securities Available-for-Sale

The following is a summary of the Company’s securities available-for-sale:

			Gross		Gross			Estimated
	Amortized		unrealized		unrealized			fair
	cost		gains		losses			value
	(In thousands)
As of September 30, 2013
Municipal securities	$	8,686	$	10	$	—		$	8,696
Corporate bonds		49,707		64		(30	)		49,741
Total securities available-for-sale	$	58,393	$	74	$	(30	)	$	58,437
As of December 31, 2012
U.S. government obligations	$	30,255	$	849	$	—		$	31,104
Municipal securities		17,941		10		(4	)		17,947
Corporate bonds		2,159		—		(2	)		2,157
Total securities available-for-sale	$	50,355	$	859	$	(6	)	$	51,208

Summary of Contractual Maturities of Securities Available-for-Sale

The following table summarizes the contractual maturities of securities available-for-sale:

	As of
	September 30, 2013		December 31, 2012
	(In thousands)
Less than one year	$	12,161	$	10,870
Due in 1 - 5 years		46,276		40,338
Total securities available-for-sale	$	58,437	$	51,208

Fair Values and Unrealized Losses on Securities Available-for-Sale

The following table provides fair values and unrealized losses on securities available-for-sale and by the aging of the securities’ continuous unrealized loss position as of September 30, 2013 and December 31, 2012:

	Less than Twelve Months					Twelve Months or More				Total
	Estimated		Gross			Estimated		Gross		Estimated		Gross
	fair		unrealized			fair		unrealized		fair		unrealized
	value		losses			value		losses		value		losses
	(In thousands)
As of September 30, 2013
Municipal securities	$	—	$	—		$	—	$	—	$	—	$	—
Corporate bonds		19,414		(30	)		—		—		19,414		(30	)
Total securities available-for-sale	$	19,414	$	(30	)	$	—	$	—	$	19,414	$	(30	)
	Less than Twelve Months					Twelve Months or More				Total
	Estimated		Gross			Estimated		Gross		Estimated		Gross
	fair		unrealized			fair		unrealized		fair		unrealized
	value		losses			value		losses		value		losses
	(In thousands)
As of December 31, 2012
Municipal securities	$	2,780	$	(4	)	$	—	$	—	$	2,780	$	(4	)
Corporate bonds		2,157		(2	)		—		—		2,157		(2	)
Total securities available-for-sale	$	4,937	$	(6	)	$	—	$	—	$	4,937	$	(6	)