| Schedule of Fair Value Hierarchy of Financial Assets Carried at Fair Value and Measured on Recurring Basis |
The fair value hierarchy of the Company’s financial assets carried at fair value and measured on a recurring basis was as follows (in thousands): | | | | | | | | | | | | | | | | | | |
| Fair value measurements at the reporting date using | | March 31, 2015 |
| Quoted prices in active markets using identical assets (Level 1) |
| Significant other observable inputs (Level 2) |
| Significant unobservable inputs (Level 3) | Cash equivalents: |
|
|
|
|
|
|
| Money market and other funds | $ | 2,954 |
|
| $ | — |
|
| $ | 2,954 |
|
| $ | — |
| Commercial paper | 6,000 |
|
| — |
|
| 6,000 |
|
| — |
| Time deposits | 250 |
|
| — |
|
| 250 |
|
| — |
| Taxable municipal bonds | 505 |
|
| — |
|
| 505 |
|
| — |
| Total cash equivalents | 9,709 |
|
| — |
|
| 9,709 |
|
| — |
| Available-for-sale investments: |
|
| |
| |
| | Debt securities: | | | | | | | | U.S. government securities | 110,030 |
|
| — |
|
| 110,030 |
|
| — |
| International government securities | 5,257 |
| | — |
| | 5,257 |
| | — |
| Commercial paper | 20,387 |
|
| — |
|
| 20,387 |
|
| — |
| Time deposits | 28,272 |
|
| — |
|
| 28,272 |
|
| — |
| Taxable municipal bonds | 82,851 |
|
| — |
|
| 82,851 |
|
| — |
| Total debt securities | 246,797 |
| | — |
| | 246,797 |
| | — |
| Equity securities | 2,789 |
| | 2,789 |
| | — |
| | — |
| Total available-for-sale investments | 249,586 |
|
| 2,789 |
|
| 246,797 |
|
| — |
| Total assets at fair value | $ | 259,295 |
|
| $ | 2,789 |
|
| $ | 256,506 |
|
| $ | — |
|
| | | | | | | | | | | | | | | | | | | | Fair value measurements at the reporting date using | | December 31, 2014 | | Quoted prices in active markets using identical assets (Level 1) | | Significant other observable inputs (Level 2) | | Significant unobservable inputs (Level 3) | Cash equivalents: | | | | | | | | Money market and other funds | $ | 8,490 |
| | $ | — |
| | $ | 8,490 |
| | $ | — |
| Time deposits | 1,242 |
| | — |
| | 1,242 |
| | — |
| Taxable municipal bonds | 4,754 |
| | — |
| | 4,754 |
| | — |
| Total cash equivalents | 14,486 |
| | — |
| | 14,486 |
| | — |
| Available-for-sale investments: | | | | | | | | Debt securities: | | | | | | | | U.S. government securities | 100,818 |
| | — |
| | 100,818 |
| | — |
| International government securities | 6,560 |
| | — |
| | 6,560 |
| | — |
| Commercial paper | 24,589 |
| | — |
| | 24,589 |
| | — |
| Time deposits | 30,759 |
| | — |
| | 30,759 |
| | — |
| Corporate bonds | 1,528 |
| | — |
| | 1,528 |
| | — |
| Taxable municipal bonds | 87,366 |
| | — |
| | 87,366 |
| | — |
| Total debt securities | 251,620 |
| | — |
| | 251,620 |
| | — |
| Equity securities | 3,234 |
| | 3,234 |
| | — |
| | — |
| Total available-for-sale investments | 254,854 |
| | 3,234 |
| | 251,620 |
| | — |
| Total assets at fair value | $ | 269,340 |
| | $ | 3,234 |
| | $ | 266,106 |
| | $ | — |
|
|
| Investments Classified as Available-for-Sale |
The cost and fair value of available-for-sale investments were as follows (in thousands): | | | | | | | | | | | | | | | | | | Amortized cost | | Gross unrealized gains | | Gross unrealized losses | | Fair value | Balance at March 31, 2015 | | | | | | | | Debt securities | $ | 246,782 |
| | $ | 38 |
| | $ | (23 | ) | | $ | 246,797 |
| Equity securities | 3,944 |
| | — |
| | (1,155 | ) | | 2,789 |
| Total | $ | 250,726 |
| | $ | 38 |
| | $ | (1,178 | ) | | $ | 249,586 |
| Balance at December 31, 2014 | | | | | | | | Debt securities | $ | 251,673 |
| | $ | 16 |
| | $ | (69 | ) | | $ | 251,620 |
| Equity securities | 4,312 |
| | — |
| | (1,078 | ) | | 3,234 |
| Total | $ | 255,985 |
| | $ | 16 |
| | $ | (1,147 | ) | | $ | 254,854 |
|
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