Fair Value Measurements

9 Months Ended

Sep. 30, 2013

Fair Value Disclosures [Abstract]

Fair Value Measurements

6. Fair Value Measurements

Assets and Liabilities Measured at Fair Value

The following table sets forth the Company’s assets and liabilities that were accounted for at fair value on a recurring basis as of September 30, 2013 and December 31, 2012. The table excludes short-term investments, accounts receivable, accounts payable and accrued expenses for which fair values approximate their carrying amounts.

As of September 30, 2013	Level 1		Level 2		Level 3		Total
Assets
Money market and mutual funds	$	96,781	$	—	$	—	$	96,781
Derivative financial instruments		—		603		—		603
Total	$	96,781	$	603	$	—	$	97,384
Liabilities
Derivative financial instruments	$	—	$	19,764	$	—	$	19,764
Total	$	—	$	19,764	$	—	$	19,764
As of December 31, 2012	Level 1		Level 2		Level 3		Total
Assets
Money market and mutual funds	$	64,766	$	—	$	—	$	64,766
Derivative financial instruments		—		1,730		—		1,730
Total	$	64,766	$	1,730	$	—	$	66,496
Liabilities
Derivative financial instruments		—		9,861		—	$	9,861
Total	$	—	$	9,861	$	—	$	9,861

Derivative Financial Instruments

The Company’s derivative financial instruments consist of foreign currency forward exchange contracts. Fair values for derivative financial instruments are based on independent sources including highly rated financial institutions and are classified as Level 2. See Note 7 for further details on Derivatives and Hedge Accounting.