Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2014

Fair Value Measurements

Schedule of assets and liabilities measured at fair value on a recurring basis

The following tables represent the fair value hierarchy as of March 31, 2014 and December 31, 2013 for those assets and liabilities that we measure at fair value on a recurring basis (in thousands):

	Fair Value Measurements at March 31, 2014 Using:
			Quoted Prices in Active  Markets for Identical  Assets		Significant Other Observable Inputs		Significant  Unobservable  Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	196,297	$	196,297	$	—	$	—
Corporate debt securities	132,184		$	—	132,184		—
U.S. treasury and government agency securities	50,875		$	—	50,875		—
Commercial paper	1,498		—		1,498		—
Total Assets	$	380,854	$	196,297	$	184,557	$	—
Liabilities:
Acquisition-related contingent consideration	$	15,382	—		—		15,382
Total Liabilities	$	15,382	$	—	$	—	$	15,382

	Fair Value Measurements at December 31, 2013 Using:
			Quoted Prices in Active  Markets for Identical  Assets		Significant Other Observable Inputs		Significant  Unobservable  Inputs
	Total		(Level 1)		(Level 2)		(Level 3)
Assets:
Money market funds	$	18,767	$	18,767	$	—	$	—
Corporate debt securities	134,123		—		134,123		—
U.S. treasury and government agency securities	52,680		—		52,680		—
Total Assets	$	205,570	$	18,767	$	186,803	$	—
Liabilities:
Acquisition-related contingent consideration	$	14,550	$	—	$	—	$	14,550
Total Liabilities	$	14,550	$	—	$	—	$	14,550

Schedule of reconciliation of contingent consideration obligations related to acquisition of MuGard rights measured on recurring basis using Level 3 inputs

The following table presents a reconciliation of contingent consideration obligations related to our acquisition of the MuGard Rights measured on a recurring basis using Level 3 inputs as of March 31, 2014 (in thousands):

Balance as of December 31, 2013	$	14,550
Payments made	(31		)
Adjustments to fair value of contingent consideration	789
Other adjustments	74
Balance as of March 31, 2014	$	15,382