| Company's recurring financial assets and liabilities subject to fair value measurements |
The Company's recurring financial assets and liabilities subject to fair value measurements are as follows:
| | | | | | | | | | | | | | | | | | | | Fair Value Measurements as of September 30, 2015 | Description | | Total | | Quoted Prices in Active Markets for Identical Assets (Level 1) | |
Significant Other Observable Inputs (Level 2) | |
Significant Unobservable Inputs (Level 3) | Assets: | | | | | | | | | Money market funds | | $ | 101,960 |
| | $ | 101,960 |
| | $ | — |
| | $ | — |
| Certificates of deposit | | 3,465 |
| | — |
| | 3,465 |
| | — |
| Bonds | | 12,368 |
| | 12,368 |
| | — |
| | — |
| Investment securities available for sale | |
| | | | | |
| Equity securities | | 106,976 |
| | 106,976 |
| | — |
| | — |
| Mutual funds invested in fixed income securities | | 54,864 |
| | 54,864 |
| | — |
| | — |
| Fixed income securities | | | | | | | | | U.S. Government securities | | 35,433 |
| | — |
| | 35,433 |
| | — |
| Corporate securities | | 54,741 |
| | — |
| | 54,741 |
| | — |
| U.S. mortgage backed securities | | 6,351 |
| | — |
| | 6,351 |
| | — |
| Commercial mortgage-backed securities | | 14,537 |
| | — |
| | 14,537 |
| | — |
| U.S. asset backed securities | | 13,360 |
| | — |
| | 13,360 |
| | — |
| Index-linked U.S. bonds | | 2,114 |
| | — |
| | 2,114 |
| | — |
| Total fixed income securities | | 126,536 |
| | — |
| | 126,536 |
| | — |
| | | | | | | | | | Warrants (1) | | 577 |
| | — |
| | — |
| | 577 |
| Total | | $ | 406,746 |
| | $ | 276,168 |
| | $ | 130,001 |
| | $ | 577 |
| | | | | | | | | | Liabilities: | | | | | | | | | Fair value of derivatives embedded within convertible debt | | $ | 149,739 |
| | $ | — |
| | $ | — |
| | $ | 149,739 |
| | | | | | | | | |
| | (1) | Warrants are 1,000,000 warrants to purchase Ladenburg Thalmann Financial Services Inc. (“LTS”) common stock received on November 4, 2011 which were carried at $577 as of September 30, 2015 and are included in “Other assets.” The Company recognized a loss of $1,765 for the nine months ended September 30, 2015 related to the change in fair value of the Warrants. |
| | | | | | | | | | | | | | | | | | | | Fair Value Measurements as of December 31, 2014 | Description | | Total | | Quoted Prices in Active Markets for Identical Assets (Level 1) | |
Significant Other Observable Inputs (Level 2) | |
Significant Unobservable Inputs (Level 3) | Assets: | | | | | | | | | Money market funds | | $ | 205,180 |
| | $ | 205,180 |
| | $ | — |
| | $ | — |
| Certificates of deposit | | 3,462 |
| | — |
| | 3,462 |
| | — |
| Bonds | | 4,868 |
| | 4,868 |
| | — |
| | — |
| Investment securities available for sale | | | | | | | |
| Equity securities | | 154,192 |
| | 153,666 |
| | 526 |
| | — |
| Mutual funds invested in fixed income securities | | 59,826 |
| | 59,826 |
| | — |
| | — |
| Fixed income securities | | | | | | | |
| U.S. Government securities | | 35,446 |
| | — |
| | 35,446 |
| | — |
| Corporate securities | | 56,248 |
| | 7,397 |
| | 48,851 |
| | — |
| U.S. Government and federal agency | | 4,770 |
| | — |
| | 4,770 |
| | — |
| Commercial mortgage-backed securities | | 16,508 |
| | — |
| | 16,508 |
| | — |
| U.S. asset-backed securities | | 16,955 |
| | — |
| | 16,955 |
| | — |
| Index-linked U.S. bonds | | 2,098 |
| | — |
| | 2,098 |
| | — |
| Total fixed income securities | | 132,025 |
| | 7,397 |
| | 124,628 |
| | — |
| | | | | | | | | | Warrants (1) | | 2,342 |
| | — |
| | — |
| | 2,342 |
| Total | | $ | 561,895 |
| | $ | 430,937 |
| | $ | 128,616 |
| | $ | 2,342 |
| | | | | | | | | | Liabilities: | | | | | | | | | | | | | | | | | | Fair value of derivatives embedded within convertible debt | | $ | 169,386 |
| | $ | — |
| | $ | — |
| | $ | 169,386 |
| | | | | | | | | |
| | (1) | Warrants include 1,000,000 of LTS Warrants received on November 4, 2011 which were carried at $2,342 as of December 31, 2014 and are included in “Other assets.” The Company recognized income of $584 for the year ended December 31, 2014 related to the change in fair value of the Warrants. The Company recognized income of $868 for the nine months ended September 30, 2014. |
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