Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measures

v2.4.0.6
Fair Value Measures
9 Months Ended
Sep. 30, 2012
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]
FAIR VALUE MEASURES
Certain assets and liabilities are reported at fair value on either a recurring or nonrecurring basis. Fair value is defined as an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants, under a three-tier fair value hierarchy that prioritizes the inputs used in measuring fair value as follows:
 
Level 1 –
observable inputs such as quoted prices in active liquid markets;
Level 2 –
inputs, other than the quoted market prices in active markets, that are observable, either directly or indirectly; or observable market prices in markets with insufficient volume and/or infrequent transactions; and
Level 3 –
unobservable inputs for which there is little or no market data available, that require the reporting entity to
develop its own assumptions.
Assets and liabilities measured at fair value on a recurring basis at September 30, 2012 are as follows (in thousands):
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets:
 
 
 
 
 
 
 
Cash equivalents
 
 
 
 
 
 
 
Money market funds
$
13,700

 
$

 
$

 
$
13,700

Time deposits
10,016

 

 

 
10,016

Available-for-sale short-term investments (1)
 
 
 
 
 
 
 
Time deposits

 
2,128

 

 
2,128

Other current assets
 
 
 
 
 
 
 
Derivative financial instruments (Note 11)

 
2,752

 

 
2,752

Other non-current assets
 
 
 
 
 
 
 
Mutual fund shares
3,879

 

 

 
3,879

Total assets measured at fair value
$
27,595

 
$
4,880

 
$

 
$
32,475

Liabilities:
 
 
 
 
 
 
 
Accrued liabilities
 
 
 
 
 
 
 
Derivative financial instruments (Note 11)
$

 
$
2,220

 
$

 
$
2,220

Total liabilities measured at fair value
$

 
$
2,220

 
$

 
$
2,220


Assets and liabilities measured at fair value on a recurring basis at December 31, 2011 are as follows (in thousands):
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets:
 
 
 
 
 
 
 
Cash equivalents
 
 
 
 
 
 
 
Money market funds
$
55,542

 
$

 
$

 
$
55,542

Time deposits
10,000

 

 

 
10,000

Available-for-sale short-term investments (1)
 
 
 
 
 
 
 
Time deposits
2,878

 

 

 
2,878

Other current assets
 
 
 
 
 
 
 
Derivative financial instruments (Note 11)

 
7,236

 

 
7,236

Other non-current assets
 
 
 
 
 
 
 
Derivative financial instruments (Note 11)

 
1,117

 

 
1,117

Mutual fund shares
2,521

 

 

 
2,521

Total assets measured at fair value
$
70,941

 
$
8,353

 
$

 
$
79,294

Liabilities:
 
 
 
 
 
 
 
Accrued liabilities
 
 
 
 
 
 
 
Derivative financial instruments (Note 11)
$

 
$
3,786

 
$

 
$
3,786

Other long-term liabilities
 
 
 
 
 
 
 
Derivative financial instruments (Note 11)

 
91

 

 
91

Total liabilities measured at fair value
$

 
$
3,877

 
$

 
$
3,877

Assets and liabilities measured at fair value on a recurring basis at September 30, 2011 are as follows (in thousands):
 
 
Level 1
 
Level 2
 
Level 3
 
Total
Assets:
 
 
 
 
 
 
 
Cash equivalents
 
 
 
 
 
 
 
Money market funds
$
57,939

 
$

 
$

 
$
57,939

Available-for-sale short-term investments (1)
 
 
 
 
 
 
 
Time deposits
2,423

 

 

 
2,423

Other current assets
 
 
 
 
 
 
 
Derivative financial instruments (Note 11)

 
8,357

 

 
8,357

Other non-current assets
 
 
 
 
 
 
 
Mutual fund shares
2,261

 

 

 
2,261

Total assets measured at fair value
$
62,623

 
$
8,357

 
$

 
$
70,980

Liabilities:
 
 
 
 
 
 
 
Accrued liabilities
 
 
 
 
 
 
 
Derivative financial instruments (Note 11)
$

 
$
2,585

 
$

 
$
2,585

Total liabilities measured at fair value
$

 
$
2,585

 
$

 
$
2,585

 
(1) 
Investments have remaining maturities greater than three months but less than two years and are available for use in current operations.
 
Level 1 instrument valuations are obtained from real-time quotes for transactions in active exchange markets involving identical assets. Level 2 instrument valuations are obtained from inputs, other than quoted market prices in active markets, that are directly or indirectly observable in the marketplace and quoted prices in markets with limited volume or infrequent transactions.
There were no material assets and liabilities measured at fair value on a nonrecurring basis as of September 30, 2012December 31, 2011, or September 30, 2011.