Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 2016

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 June 30, 2016 (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	$	131,939	$	—	$	—	$	131,939
U.S. Government and agency securities		3,629		300		—		3,929
Corporate and other debt securities		—		5,252		—		5,252
Total	$	135,568	$	5,552	$	—	$	141,120
Liabilities:
Contingent consideration – short-term	$	—	$	—	$	5,878	$	5,878
Convertible senior notes		—		124,295		—		124,295
Total	$	—	$	124,295	$	5,878	$	130,173

Rollforward of Fair Value of Contingent Consideration

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

Balance at December 31, 2015	$	6,788
Additions		928
Payments		(4,480	)
Changes in fair value		2,642
Balance at June 30, 2016	$	5,878

Refine Technology, LLC

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 June 30, 2016	$4,648
Valuation technique	Probability-adjusted discounted cash flow
Remaining period in which milestones can be achieved	2016

	Fixed Earn-out		Maximum Variable Earn-out		Accrued Balance
2016		4,250		1,300		4,648

Atoll GmbH

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 Atoll using Level 3 inputs (in thousands):

	Contingent Consideration
	Atoll
Fair value as of June 30, 2016	$928
Valuation technique	Probability-weighted expected return method.
Remaining period in which milestones can be achieved	2016