Financial Instruments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2013

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis

The financial instruments measured at fair value on a recurring basis at December 31, 2013 were as follows:

	Level 1		Level 2		Level 3		Total Fair Value
Money market funds	$	1,761	$	—	$	—	$	1,761
Debt securities:
U.S. treasury securities	124,949		—		—		124,949
Corporate debt securities	—		22,023		—		22,023
	$	126,710	$	22,023	$	—	$	148,733

Non Financial Assets Measured at Fair Value on Nonrecurring Basis

The Company’s non-financial assets measured at fair value on a nonrecurring basis and level 3 inputs are as follows at December 31, 2013 and 2012.

Financial Statement Line	Level 3 Fair Value		Total Impairment Charge		Unobservable Input(s)	Range of Inputs Used
December 31, 2013
Investment in real estate, net	$	2,420	$	4,911	Revenue growth rates	5% - 16%
					Discount rate	14%
					Cap rate	11.8%
Investment in real estate, net	$	722	$	169	Estimated selling price based on market data	$0.7 million - $0.9 million
December 31, 2012
Investment in real estate, net	$	300	$	2,551	Third party appraisal without comparable property sales	$105,000 - $33,000 per acre

Carrying Amount and Fair Value of Financial Instruments

The carrying amount and fair value of the Company’s financial instruments were as follows (the table below excludes financial instruments with carrying values that approximate their fair values):

	December 31, 2013					December 31, 2012
	Carrying  value		Fair value		Level	Carrying  value		Fair value		Level
Assets
Pledged treasury securities	$	26,260	$	28,465	1	$	26,818	$	30,432	1
Retained interest investments	$	9,639	$	12,827	3	$	9,481	$	12,392	3