Our cash equivalents and marketable securities are classified within Level of the fair value hierarchy because they are valued using quoted market prices, broker or dealer quotations or alternative pricing sources with reasonable levels of price transparency. The types of marketable securities valued based on quoted market prices in active markets include most U.S. government and agency securities, sovereign government obligations, money market securities and certain corporate obligations with high credit ratings and an ongoing trading market.

  

The tables below present the balances of our assets and liabilities measured at fair value on a recurring basis as of and in thousands):

  

Our non-marketable preferred stock investments in privately-held companies are recorded at cost and are adjusted to fair value only in the event that they become other-than-temporarily impaired. As of we held an equity investment in privately-held company with a carrying value of million. Our President and Chief Executive Officer is a member of the Board of Directors of this company. We did identify any events or changes in circumstances that have had a significant adverse effect on the fair value of this investment during the months ended and Our equity investment in this privately-held company constituted less than a ownership position. Furthermore, we do believe that we have the ability to exert significant influence over this company.