Financial Instruments

The following summarizes our cash and cash equivalents, restricted cash and cash equivalents and marketable securities by significant financial instrument category as of the respective periods:



	February 28, 2014
($ in thousands)	Cash and Cash Equivalents⁽¹⁾		Current Marketable Securities		Noncurrent Marketable Securities		Total Carrying Value		Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	749,176	$	—	$	—	$	749,176	$	—	$	—		$	749,176
Level 1:
Money market funds	152,684		—		—		152,684		—		—			152,684
Level 2:
Tax-exempt municipal bonds	602		61,224		48,190		110,016		201		(6		)	110,211
Commercial paper	—		29,573		—		29,573		3		—			29,576
Corporate bonds	2,397		27,657		54,857		84,911		143		(16		)	85,038
Time deposits	25,010		25,013		—		50,023		—		—			50,023
Other	—		14,776		2,716		17,492		4		—			17,496
Level 3:
Auction-rate securities	—		—		5,946		5,946
Total	$	929,869	$	158,243	$	111,709	$	1,199,821



	August 31, 2013
($ in thousands)	Cash and Cash Equivalents⁽¹⁾		Current Marketable Securities		Noncurrent Marketable Securities		Total Carrying Value		Unrealized Gains		Unrealized Losses			Fair Value
Cash	$	874,074	$	—	$	—	$	874,074	$	—	$	—		$	874,074
Level 1:
Money market funds	732,530		—		—		732,530		—		—			732,530
Level 2:
Tax-exempt municipal bonds	2,055		69,621		24,070		95,746		19		(54		)	95,711
Commercial paper	—		9,828		—		9,828		—		—			9,828
Corporate bonds	—		24,503		13,925		38,428		6		(40		)	38,394
Certificates of deposit	65,000		1,200		—		66,200		—		—			66,200
Other	—		657		—		657		—		—			657
Level 3:
Auction-rate securities	—		—		5,946		5,946
Total	$	1,673,659	$	105,809	$	43,941	$	1,823,409

⁽¹⁾ Cash and cash equivalents includes restricted cash and cash equivalents.

We measure our money market funds on a recurring basis at fair value using Level 1 inputs that primarily consist of real-time quotes for transactions in active exchange markets involving identical assets.

Other than our auction-rate securities, which are discussed further below, all of our marketable securities are classified as held-to-maturity as we have the intent and ability to hold them until contractual maturity, which will occur within two years. Our held-to-maturity securities are reported at amortized cost and we have not recorded gains or losses on our held-to-maturity investments. The estimated fair values of our held-to-maturity investments are determined using a market approach with Level 2 observable inputs including quoted prices for similar assets in active markets, or quoted prices for identical or similar assets in markets that are not active.

Our auction-rate securities are classified as available-for-sale and measured at fair value on a recurring basis. Fair value is measured using a discounted cash flow model encompassing Level 3 significant unobservable inputs such as estimated interest rates, credit spreads, timing and amount of cash flows, credit quality of the underlying securities and illiquidity considerations. We have classified our auction-rate securities as noncurrent due to illiquidity considerations.

There were no changes in the assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) during the six months ended February 28, 2014.