Fair Value Measurement (Tables)

9 Months Ended

Sep. 30, 2015

Assets Measured at Fair Value on Recurring Basis

The following fair value hierarchy table presents information about each major category of the Company’s assets measured at fair value on a recurring basis as of September 30, 2015 (in thousands):

	Fair value measurement at reporting date using:
	Quoted prices in active markets for identical assets (Level 1)		Significant other observable inputs (Level 2)		Significant unobservable inputs (Level 3)		Total
Assets:
Money market funds	$	9,543	$	—	$	—	$	9,543
U.S. Government and agency securities		8,496		4,012		—		12,508
Corporate and other debt securities		—		9,933		—		9,933
Total	$	18,039	$	13,945	$	—	$	31,984
Liabilities:
Contingent consideration – short-term		—		—		4,454		4,454
Contingent consideration – long-term		—		—		365		365
Total	$	—	$	—	$	4,819	$	4,819

Roll Forward of Fair Value of Contingent Consideration

The following table provides a rollforward of the fair value of the contingent consideration (in thousands):

Balance at December 31, 2014	$	3,844
Payments		(1,139	)
Changes in fair value		2,114
Balance at September 30, 2015	$	4,819

Quantitative Information Associated With Fair Value Measurement of Contingent Consideration

The following tables provide quantitative information associated with the fair value measurement of the Company’s contingent consideration related to Refine using Level 3 inputs (in thousands):

	Contingent Consideration
	Refine
Fair value as of September 30, 2015	$4,409,000
Valuation technique	Probability-adjusted discounted cash flow
Remaining periods in which milestones can be achieved	2015 – 2016

	Fixed Earn-out		Maximum Variable Earn-out		Accrued Balance
2015		3,500		850		4,324
2016		4,250		1,250		85