Cash, Cash Equivalents, and Available-For-Sale Investments (Tables)

12 Months Ended

Dec. 31, 2012

Cash, Cash Equivalents, and Available-for-Sale Investments

Cash, cash equivalents, and available-for-sale investments are as follows (in thousands):

	Estimated Fair Value at
	December 31, 2012		December 31, 2011
Cash and cash equivalents	$	25,437	$	15,312
Short-term investments		251,757		225,856
Long-term investments		—		173,768
Restricted cash		25,000		—
Total cash, cash equivalents, and available-for-sale investments	$	302,194	$	414,936

Portfolio of Cash, Cash Equivalents, and Available-for-Sale Investments

Our portfolio of cash, cash equivalents, and available-for-sale investments includes (in thousands):

	Estimated Fair Value at
	December 31, 2012		December 31, 2011
Corporate notes and bonds	$	241,158	$	344,427
U.S. corporate commercial paper		3,990		9,464
Obligations of U.S. government agencies		6,108		44,230
Obligations of U.S. states and municipalities		1,504		1,503
Available-for-sale investments		252,760		399,624
Cash and money market funds, including restricted cash		49,434		15,312
Total cash, cash equivalents, and available-for-sale investments	$	302,194	$	414,936

Portfolio of Available-for-Sale Investments Reported as Short-Term and Long-Term Investments by Contractual Maturity

The following table summarizes our portfolio of available-for-sale investments reported as short-term and long-term investments by contractual maturity (in thousands):

	Estimated Fair Value at
	December 31, 2012		December 31, 2011
Less than one year	$	251,757	$	213,386
Greater than one year but less than two years		—		186,238
Total available-for-sale investments	$	251,757	$	399,624

Financial Assets Measured at Fair Value on Recurring Basis

The following table represents the fair value hierarchy for our financial assets measured at fair value on a recurring basis as of December 31, 2012 and 2011 (in thousands):

As of December 31, 2012:	Level 1		Level 2		Level 3		Total
Money market funds	$	22,487	$	—	$	—	$	22,487
U.S. corporate commercial paper		—		3,990		—		3,990
Corporate notes and bonds		—		241,158		—		241,158
Obligations of U.S. government agencies		—		6,108		—		6,108
Obligations of U.S. states and municipalities		—		1,504		—		1,504
Cash equivalents and available-for-sale investments	$	22,487	$	252,760	$	—	$	275,247
Cash, including restricted cash								26,947
Cash, cash equivalents, and available-for-sale investments							$	302,194

As of December 31, 2011:	Level 1		Level 2		Level 3		Total
Money market funds	$	13,950	$	—	$	—	$	13,950
U.S. corporate commercial paper		—		9,464		—		9,464
Corporate notes and bonds		—		344,427		—		344,427
Obligations of U.S. government agencies		—		44,230		—		44,230
Obligations of U.S. states and municipalities		—		1,503		—		1,503
Cash equivalents and available-for-sale investments	$	13,950	$	399,624	$	—	$	413,574
Cash								1,362
Cash, cash equivalents, and available-for-sale investments							$	414,936