Annual report pursuant to Section 13 and 15(d)

FAIR VALUE (Tables)

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FAIR VALUE (Tables)
12 Months Ended
Dec. 31, 2012
FAIR VALUE  
Schedule of financial assets measured at fair value on a recurring basis

        Financial assets measured at fair value on a recurring basis are categorized in the tables below based upon the lowest level of significant input to the valuations (in thousands):

 
  Assets at Fair Value as of December 31, 2012  
 
  Level 1   Level 2   Level 3   Total  

Money market funds

  $ 23,936   $ —   $ —   $ 23,936  

Government-sponsored enterprise securities

    —     77,047     —     77,047  

Corporate bonds and commercial paper

    —     197,007     —     197,007  
                   

Total

  $ 23,936   $ 274,054   $ —   $ 297,990  
                   

 

 
  Assets at Fair Value as of December 31, 2011  
 
  Level 1   Level 2   Level 3   Total  

Money market funds

  $ 11,947   $ —   $ —   $ 11,947  

U. S. treasury bills

    —     3,002     —     3,002  

Government-sponsored enterprise securities

    —     144,599     —     144,599  

Corporate bonds and commercial paper

    —     87,406     —     87,406  
                   

Total

  $ 11,947   $ 235,007   $ —   $ 246,954