Note K - Fair Value Measurements

9 Months Ended

Sep. 30, 2016

Notes to Financial Statements

Fair Value, Measurement Inputs, Disclosure [Text Block]

NOTE k—FAIR VALUE MEASUREMENTS

Assets and Liabilities Measured at Fair Value on a Recurring Basis:

The Company measures its cash equivalents, short-term deposits, marketable securities and foreign currency derivative contracts

at fair value. Cash equivalents, short-term deposits and marketable securities are classified within Level 1 or Level 2 value hierarchies as they are valued using quoted market prices or alternative pricing sources and models utilizing market observable inputs. Foreign currency derivative contracts are classified within Level 2 value hierarchy as the valuation inputs are based on quoted prices and market observable data of similar instruments.

The following table provides information

by value level for assets and liabilities that are measured at fair value on a recurring basis as of September 30, 2016:

	Balance as of		Fair Value Measurements
	September 30, 2016		Level 1		Level 2		Level 3
Description
Assets :
Cash equivalents :
Money market mutual funds	$	1,907	$	1,907		-		-
Short-term marketable securities and cash deposits:
U.S. GSE securities	$	376		-	$	376		-
Corporate debt securities	$	19,349		-	$	19,349		-
Long-term marketable securities:
U.S. GSE securities	$	23,884		-	$	23,884		-
Corporate debt securities	$	57,266		-	$	57,266		-
Derivative a ssets	$	88		-	$	88		-

The following

table provides information by value level for assets and liabilities that are measured at fair value on a recurring basis as of December 31, 2015.

	Balance as of			Fair Value Measurements
	December 31, 2015			Level 1		Level 2			Level 3
Description
Assets:
Cash equivalents:
Money market mutual funds	$	1,089		$	1,089		-			-
Short-term marketable securities and time deposits:
U.S. GSE securities
Corporate debt securities	$	12,501			-	$	12,501			-
Long-term marketable securities:
U.S. GSE securities	$	23,531			-	$	23,531			-
Corporate debt securities	$	66,184			-	$	66,184			-
Derivative liabilities	$	(36	)		-	$	(36	)		-

In addition to the assets and liabilities described above, the Company’s financial instruments also include cash and cash equivalents, restricted and short-term deposits, trade receivables, other accounts receivable, trade payables

, accrued expenses and other payables. The fair value of these financial instruments was not materially different from their carrying values at September 30, 2016 due to the short-term maturity of these instruments.