Chegg 2015 Annual Report Download - page 113

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Table of Contents
74
Financial instruments measured and recorded at fair value on a recurring basis as of December 31, 2015 and
December 31, 2014 are classified based on the valuation technique level in the tables below (in thousands):
December 31, 2015
Total
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Assets:
Cash equivalents:
Money market funds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 6,672 $ 6,672 $ —
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 5,453 — 5,453
Corporate securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 599 — 599
Agency bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,400 — 1,400
Short-term investments:
Commercial paper . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,746 — 3,746
Corporate securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 10,560 — 10,560
Agency bonds. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,494 — 3,494
Long-term investments:
Corporate securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3,231 — 3,231
Agency bond . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 998 — 998
Total assets measured and recorded at fair value . . . . . . . . . . . . . . . . . . . . . . $ 36,153 $ 6,672 $ 29,481
December 31, 2014
Total
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs (Level 2)
Significant
Unobservable
Inputs
(Level 3)
Assets:
Cash equivalents:
Money market funds. . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 5,828 $ 5,828 $ — $ —
Commercial paper. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 453 — 453 —
Short-term investments:
Commercial paper. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 13,435 — 13,435 —
Corporate securities . . . . . . . . . . . . . . . . . . . . . . . . . . . . 18,411 — 18,411 —
Certificate of deposit. . . . . . . . . . . . . . . . . . . . . . . . . . . . 1,500 — 1,500 —
Long-term investments, corporate securities. . . . . . . . . . . . 1,451 — 1,451
Total assets measured and recorded at fair value . . . . . . . . $ 41,078 $ 5,828 $ 35,250 $ —
Liabilities:
Put option liability. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $ 1,079 $ — $ — $ 1,079
We value our marketable securities based on quoted prices in active markets for identical assets (Level 1 inputs) or
inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs) in determining fair value. We
classify all of our fixed income available-for-sale securities as having Level 2 inputs. The valuation techniques used to measure
the fair value of our financial instruments having Level 2 inputs were derived from non-binding market consensus prices that
are corroborated by observable market data, quoted market prices for similar instruments, or pricing models such as discounted
cash flow techniques.