Stamps.com 2013 Annual Report Download - page 67

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STAMPS.COM INC. AND SUBSIDIARY
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (continued)
The following table summarizes contractual maturities of our marketable fixed-income securities as of December 31, 2013 (in thousands):
Financial assets measured at fair value on a recurring basis are classified in one of the three following categories, which are described below:
Level 1 - Valuations based on unadjusted quoted prices for identical assets in an active market.
Level 2 - Valuations based on quoted prices in markets where trading occurs infrequently or whose values are based on quoted prices of
instruments with similar attributes in active markets.
Level 3 - Valuations based on inputs that are unobservable and involve management judgment and our own assumptions about market
participants and pricing.
The following table summarizes our financial assets measured at fair value on a recurring basis as of December 31, 2013 and 2012 (in
thousands):
F-17
Table of Contents
Amortized
Cost Estimated
Fair Value
Due within one year
$
6,479
$
6,524
Due after one year through five years
13,917
14,012
Due after five years through ten years
—
—
Total
$
20,396
$
20,536
5.
Fair Value Measurements
Fair Value Measurement at Reporting Date
Using
Description
December
31, 2013
Quoted
Prices in
Active
Markets for
Identical
Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Cash and cash equivalents
$
66,674
$
66,674
$
—
$
—
Available-for-sale debt securities
20,536
—
20,536
—
Total
$
87,210
$
66,674
$
20,536
$
—