Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2015

Cash Equivalents and Short-term Investments measured at Fair value on Recurring Basis

The following table indicates the fair value hierarchy of the valuation for the Company’s cash equivalents and short-term investments, except money market funds which are valued using NAV and are not required to be assigned with a fair value hierarchy level according to ASU 2015-07 (in thousands):


	June 30,		Fair Value Measured Using
	2015		Level 1		Level 2		Level 3
	(unaudited)
Cash equivalents:
Money market funds (1)	$	27,711
Corporate bonds		897		—		897		—
Commercial paper		3,899		—		3,899		—
Total	$	32,507	$	—	$	4,796	$	—

Short-term investments:
U.S. agency notes	$	36,618		—		36,618		—
Corporate bonds		36,968		—		36,968		—
Commercial paper		24,796		—		24,796		—
Certificates of deposit		7,000		—		7,000		—
Total	$	105,382	$	—	$	105,382	$	—


	December 31,		Fair Value Measured Using
	2014		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds (1)	$	37,544
U.S. agency notes		101	$	—	$	101	$	—
Corporate bonds		200		—		200		—
Commercial paper		3,000		—		3,000		—
Total	$	40,845	$	—	$	3,301	$	—

Short-term investments:
U.S. agency notes	$	33,476		—		33,476		—
Corporate bonds		43,984		—		43,984		—
Commercial paper		31,317		—		31,317		—
Certificates of deposit		3,000		—		3,000		—
Total	$	111,777	$	—	$	111,777	$	—

A fair value hierarchy level was not assigned because money market funds were measured at fair value using NAV