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Table of Contents
All of our cash equivalents and short-term investments are classified within Level 1 or Level 2. The fair values of these financial instruments
were determined using the following inputs at June 30, 2013 (in thousands):
The fair values of our financial instruments were determined using the following inputs at June 30, 2012 (in thousands):
Accretion of premium on short-term investments totaled $4.4 million and $4.6 million in fiscal 2013 and 2012 , respectively.
Where applicable, we use quoted prices in active markets for identical assets to determine fair value of Level 2 short-term investments. If
quoted prices in active markets for identical assets are not available to determine fair value, we use quoted prices for similar assets and liabilities or
inputs that are observable either directly or indirectly. If quoted prices for identical or similar assets are not available, we use third-party valuations
utilizing underlying assets assumptions.
We did not have any financial liabilities measured at fair value on a recurring basis as of June 30, 2013 or 2012 .
F-15
Fair Value Measurements at June 30, 2013 Using
Quoted Prices
in Active
Markets for
Identical
Assets
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
Total
(Level 1)
(Level 2)
(Level 3)
Description
Cash equivalents:
Money market mutual funds
$
2,241
$
2,241
$
—
$
—
Total cash equivalents
2,241
2,241
—
—
Short-term investments:
Certificates of deposit
1,003
—
1,003
—
Municipal securities
148,993
—
148,993
—
Commercial paper
3,391
—
3,391
—
Corporate bonds
12,511
—
12,511
—
Total short-term investments
165,898
—
165,898
—
Cash equivalents and short-term investments
$
168,139
$
2,241
$
165,898
$
—
Fair Value Measurements at June 30, 2012 Using
Quoted Prices
in Active
Markets for
Identical
Assets
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
Total
(Level 1)
(Level 2)
(Level 3)
Description
Cash equivalents:
Money market mutual funds
$
4,490
$
4,490
$
—
$
—
Commercial paper
1,000
—
1,000
—
Total cash equivalents
5,490
4,490
1,000
—
Short-term investments:
Asset-backed securities
1,000
—
1,000
—
Certificates of deposit
2,750
—
2,750
—
Municipal securities
160,241
—
160,241
—
Commercial paper
3,465
—
3,465
—
Corporate bonds
25,092
—
25,092
—
Total short-term investments
192,548
—
192,548
—
Cash equivalents and short-term investments
$
198,038
$
4,490
$
193,548
$
—