Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

FairValueDisclosuresTextBlockAbstract

Fair Value, Assets Measured on Recurring Basis

Assets and liabilities measured at fair value on a recurring basis at December 31, 2013, summarized by measurement input category, were as follows:



	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash, including short-term deposits⁽¹⁾	$	72,602	$	72,602	$	—	$	—
Mutual funds⁽²⁾	20,783		20,783		—		—
United States government securities⁽²⁾	50,379		50,379		—		—
Corporate securities⁽²⁾	74,559		68,624		—		5,935
Commercial paper⁽³⁾	1,799		—		1,799		—
Corporate obligations⁽²⁾	31,965		—		14,535		17,430
Investments in certain funds⁽⁴⁾	844		—		—		844
Total	$	252,931	$	212,388	$	16,334	$	24,209


(1)	Reported within "Cash and cash equivalents."


(2)	Reported within “Marketable securities.”


(3)	$1.0 million reported within "Cash and cash equivalents" and $0.8 million reported within "Marketable securities."


(4)	Reported within "Other investments."

Assets and liabilities measured at fair value on a recurring basis at March 31, 2014, summarized by measurement input category, were as follows:



	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Cash, including short-term deposits⁽¹⁾	$	57,385	$	57,385	$	—	$	—
Mutual funds⁽²⁾	20,667		20,667		—		—
United States government securities⁽²⁾	23,915		23,915		—		—
Corporate securities⁽²⁾	115,196		107,259		—		7,937
Commercial paper⁽³⁾	4,499		—		4,499		—
Corporate obligations⁽²⁾	37,588		—		15,960		21,628
Investments in certain funds⁽⁴⁾	826		—		—		826
Total	$	260,076	$	209,226	$	20,459	$	30,391


(1)	Reported within "Cash and cash equivalents".


(2)	Reported within “Marketable securities”.


(3)	$2.9 million reported within "Cash and cash equivalents" and $1.6 million reported within "Marketable securities."


(4)	Reported within "Other investments".

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

Changes in the fair value of assets valued using Level 3 measurement inputs during the three months ended March 31, 2014, were as follows:



	Amount
	(in thousands)
Balance, January 1, 2014	$	24,209
Purchases	5,299
Sales	(1,974		)
Unrealized gains recognized in other comprehensive income	2,857
Balance, March 31, 2014	$	30,391

- 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.

+ References+ Details