Quarterly report pursuant to Section 13 or 15(d)

Fair value measurements

v3.10.0.1
Fair value measurements
 6 Months Ended
Jun. 30, 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 June 30, 2018 are as follows (in thousands):

 

 

 

June 30,

 

Fair value measurements using

 

 

 

2018

 

Level 1

 

Level 2

 

Level 3

 

Assets:

 

 

 

 

 

 

 

 

 

Marketable securities:

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$
77,688

 

$
77,688

 

$

—

 

$

—

 

Government bonds

 
6,028

 
6,028

 

—

 

—

 

Commercial paper

 
3,000

 

—

 
3,000

 

—

 

 

 

 

 

 

 

 

 

 

 

 

 

$
86,716

 

$
83,716

 

$
3,000

 

$

—

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

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.