Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2016

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on Recurring Basis

Assets measured at fair value on a recurring basis included the following as of June 30, 2016 (in thousands):

	Using							Total Fair Value as of June 30, 2016
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds	$	9,641	$	—	$	—		$	9,641
Long-term investments:
Failed Auction Security		—		—		2,579			2,579
Liabilities:
Contingent consideration obligations		—		—		(327	)		(327	)

Assets measured at fair value on a recurring basis included the following as of December 31, 2015 (in thousands):

	Using							Total Fair Value as of December 31, 2015
	Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents:
Money market funds	$	10,412	$	—	$	—		$	10,412
Long-term investments:
Failed Auction Security		—		—		2,526			2,526
Brokered certificates of deposit		—		340		—			340
Liabilities:
Contingent consideration obligation		—		—		(144	)		(144	)

Quantitative Information about Level 3 Fair Value Measurements

Quantitative information about Level 3 fair value measurements as of June 30, 2016 is as follows (dollars in thousands):

	Fair Value		Valuation Technique	Unobservable Input	Weighted Average
Failed Auction Security	$	2,579	Discounted cash flow	Cumulative probability of earning the maximum rate until maturity	0.03%
				Cumulative probability of principal return prior to maturity	94.38%
				Cumulative probability of default	5.59%
				Liquidity risk premium	5.00%
				Recovery rate in default	40.00%

Change in Estimated Fair Values Calculated for Investment Valued on Recurring Basis Utilizing Level 3 Inputs

The change in the estimated fair value calculated for the investment valued on a recurring basis utilizing Level 3 inputs (i.e., the Failed Auction Security) for the six months ended June 30, 2016 was as follows (in thousands):

Balance at the beginning of the period	$	2,526
Credit gain on available-for-sale securities included in Other income (expense), net		7
Gain included in Other comprehensive income (loss)		46
Balance at the end of the period	$	2,579

Change in Estimated Fair Value Calculated for Liabilities Valued on Recurring Basis Utilizing Level 3 Inputs

The change in the estimated fair value calculated for the liabilities valued on a recurring basis utilizing Level 3 inputs (i.e., the Contingent consideration obligations) for the six months ended June 30, 2016 was as follows (in thousands):

Balance at the beginning of the period	$	144
Obligation incurred upon acquisition of noncontrolling interest (see Note 7)		208
Payments		(25	)
Balance at the end of the period	$	327