Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2014

Fair Value Measurements

Schedule of assets measured at fair value on a recurring basis

Assets measured at fair value on a recurring basis are summarized below (in thousands):

	Fair Value Measurements as of June 30, 2014
	Total		Level 1		Level 2			Level 3
Marketable Securities
Bonds and bond funds	$	384,800	$	—	$	384,800		$	—
Asset backed securities	144		—		144			—
	384,944		—		384,944			—
Cash, Cash Equivalents and Restricted Cash	82,011		82,011		—			—
Other Assets	2,265		—		—		(a)	2,265
Total Assets Measured at Fair Value	$	469,220	$	82,011	$	384,944		$	2,265

	Fair Value Measurements as of December 31, 2013
	Total		Level 1		Level 2			Level 3
Marketable Securities
Bonds and bond funds	$	487,049	$	—	$	487,049		$	—
Asset backed securities	190		—		190			—
	487,239		—		487,239			—
Cash, Cash Equivalents and Restricted Cash	182,855		182,855		—			—
Other Assets	2,245		—		—		(a)	2,245
Total Assets Measured at Fair Value	$	672,339	$	182,855	$	487,239		$	2,245

(a) Comprises of auction rate securities which is reflected in “Other assets” in the Company’s unaudited condensed consolidated balance sheets

Schedule of fair value measurements using significant unobservable inputs

The following table presents the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) at June 30, 2014 (in thousands):

Fair Value Measurements Using Significant Unobservable Inputs

(Level 3)

	Auction Rate Securities
Balance at January 1, 2014	$	2,245
Total realized and unrealized gains or (losses)
Included in earnings	—
Included in other comprehensive income	20
Transferred out	—
Settlements	—
Balance at June 30, 2014	$	2,265