Fair Value (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Summary of Assets Measured at Fair Value on Recurring Basis

The following are the major categories of assets measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015, using quoted prices in active markets for identical assets (Level 1); significant other observable inputs (Level 2); and significant unobservable inputs (Level 3):

	March 31, 2016
	(In thousands)
	(unaudited)
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets measured at fair value
Cash and cash equivalents	$	53,511	$	—	$	—	$	53,511
Total Assets measured at fair value	$	53,511	$	—	$	—	$	53,511
Liabilities measured at fair value
Contingent consideration	$	—	$	—	$	24,356	$	24,356
Total liabilities measured at fair value	$	—	$	—	$	24,356	$	24,356

	December 31, 2015
	(In thousands)
Description	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)		Total
Assets measured at fair value
Cash and cash equivalents	$	38,449	$	—	$	—	$	38,449
Total Assets measured at fair value	$	38,449	$	—	$	—	$	38,449
Liabilities measured at fair value
Contingent consideration	$	—	$	—	$	23,500	$	23,500
Total liabilities measured at fair value	$	—	$	—	$	23,500	$	23,500

Quantitative Information about Inputs and Valuation Methodologies Used for Fair Value Measurements Classified in Level 3

The following table presents quantitative information about the inputs and valuation methodologies used for the Company’s fair value measurements classified in Level 3 as of September 21, 2015, December 31, 2015, and March 31, 2016:

	Valuation Methodology		Significant Unobservable Input	Weighted Average (range, if applicable)
Contingent consideration		Probability weighted income approach	Milestone dates	2016 to 2017
			Discount rate Probability of occurrence	7.5% to 9.0% 100%

Change in Fair Value for All Assets and Liabilities Using Unobservable Level 3 Inputs As Determined By Level 3 Inputs

The following table summarizes the change in fair value, as determined by Level 3 inputs, for all assets and liabilities using unobservable Level 3 inputs for the three months ended March 31, 2016:

	Fair Value Measurement at Reporting Date (Level 3)
	(In thousands)
	(unaudited)
Balance at December 31, 2015	$	23,500
Change in fair value		856
Balance at March 31, 2016	$	24,356
Current portion		13,300
Long-term portion		11,056
Balance at March 31, 2016	$	24,356