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FAIR VALUE MEASUREMENTS (Tables)
 12 Months Ended
Dec. 31, 2015
Fair Value Disclosures [Abstract]  
Assets Measured and Carried at Fair Value

The tables below present information about the Company’s financial assets that are measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques it utilizes to determine such fair value: 

 

 

 

Fair Value Measurement as of December 31, 2015

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(in thousands)

 

Money market funds

 

$

32,850

 

 

$

32,850

 

 

$

—

 

 

$

—

 

Commercial paper

 

 

48,899

 

 

 

—

 

 

 

48,899

 

 

 

—

 

Government and government agency

   bonds

 

 

50,918

 

 

 

—

 

 

 

50,918

 

 

 

—

 

Corporate bonds

 

 

17,370

 

 

 

—

 

 

 

17,370

 

 

 

—

 

Certificates of deposit

 

 

11,343

 

 

 

11,343

 

 

 

—

 

 

 

—

 

Total assets

 

$

161,380

 

 

$

44,193

 

 

$

117,187

 

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Fair Value Measurement as of December 31, 2014

 

 

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

 

(in thousands)

 

Money market funds

 

$

47,740

 

 

$

47,740

 

 

$

—

 

 

$

—

 

Commercial paper

 

 

2,997

 

 

 

—

 

 

 

2,997

 

 

 

—

 

Government and government agency

   bonds

 

 

75,250

 

 

 

—

 

 

 

75,250

 

 

 

—

 

Corporate bonds

 

 

58,546

 

 

 

—

 

 

 

58,546

 

 

 

—

 

Certificates of deposit

 

 

647

 

 

 

647

 

 

 

—

 

 

 

—

 

Total assets

 

$

185,180

 

 

$

48,387

 

 

$

136,793

 

 

$

—