TeleNav 2011 Annual Report Download - page 94
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Table of Contents
TELENAV, INC.
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS—(Continued)
4. Fair value of financial instruments
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, 2011 (in thousands):
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.
The fair values of our financial instruments were determined using the following inputs at June 30, 2010 (in thousands):
We did not have any financial liabilities to value as of June 30, 2011 or 2010.
90
Fair Value Measurements at June 30, 2011 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
$
5,153
$
5,153
$
—
$
—
Total cash equivalents
5,153
5,153
—
—
Short
-
term investments:
Asset
-
backed security
1,029
—
1,028
—
Certificate of deposit
2,751
—
2,751
—
Municipal securities
140,949
—
140,949
—
Commercial paper
11,095
—
11,095
—
Corporate bonds
23,433
—
23,433
—
Total short
-
term investments
179,257
—
179,257
—
Cash equivalents and short
-
term investments
$
184,410
$
5,153
$
179,257
$
—
Fair Value Measurements at June 30, 2010 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
$
95,004
$
95,004
$
—
$
—
Total cash equivalents
$
95,004
$
95,004
$
—
$
—