Quarterly report pursuant to Section 13 or 15(d)

Fair value measurements

v3.8.0.1
Fair value measurements
 3 Months Ended
Mar. 31, 2018
Fair value measurements  
Fair value measurements

 

Note 6 — Fair value measurements

 

Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of March 31, 2018 are as follows (in thousands):

 

 

 

March 31,

 

Fair Value Measurements Using

 

 

 

2018

 

Level 1

 

Level 2

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Marketable securities:

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$
99,465

 

$
99,465

 

$

—

 

$

—

 

Government bonds

 
6,007

 
6,007

 

—

 

—

 

Commercial paper

 
2,987

 

—

 
2,987

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

$
108,459

 

$
105,472

 

$
2,987

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

The Company estimates the fair value of available-for-sale debt securities with the aid of a third party valuation service, which uses actual trade and indicative prices sourced from third-party providers on a daily basis to estimate the fair value.  If observed market prices are not available (for example securities with short maturities and infrequent secondary market trades), the securities are priced using a valuation model maximizing observable inputs, including market interest rates.