Annual report pursuant to Section 13 and 15(d)

FAIR VALUE (Tables)

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FAIR VALUE (Tables)
 12 Months Ended
Dec. 31, 2013
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, 2013  
 
   Level 1   Level 2   Level 3   Total  

Money market funds

   $ 9,059   $ —   $ —   $ 9,059  

U. S. treasury bills

     —     2,085     —     2,085  

Government-sponsored enterprise securities

     —     67,178     —     67,178  

Corporate bonds and commercial paper

     —     133,458     —     133,458  
                   
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Total

   $ 9,059   $ 202,721   $ —   $ 211,780  
                   
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   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  
                   
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Total

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