Travelzoo 2014 Annual Report Download - page 98

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63
Note 3: Financial Instruments
The following tables summarize our financial assets measured at fair value on a recurring basis at December 31, 2014
and 2013 (in thousands):
Fair Value Measurements at Reporting Date Using
Quoted Prices in
Active Markets
for Identical
Assets
Significant
Other
Observable
Inputs
Significant
Unobservable
Inputs
Total (Level 1) (Level 2) (Level 3)
Balance at December 31, 2014
Cash $ 54,812 $ 54,812 $ — $ —
Total cash and cash equivalents $ 54,812 $ 54,812 $ — $ —
Certificates of deposit $ 675 $ — $ 675 $ —
Merchant bank deposit 718 718 — —
Total restricted cash and cash equivalent $ 1,393 $ 718 $ 675 $ —
Balance at December 31, 2013
Cash $ 65,490 $ 65,490 $ — $ —
Money market funds 733 733 — —
Total cash and cash equivalents $ 66,223 $ 66,223 $ — $ —
Certificates of deposit $ 875 $ — $ 875 $ —
Merchant bank deposit 804 804 — —
Total restricted cash and cash equivalent $ 1,679 $ 804 $ 875 $ —
At December 31, 2014 and 2013, accounts receivable and accounts payable are not measured at fair value; however, the
Company believes that the carrying amounts of these assets and liabilities are a reasonable estimate of their fair value because
of their relative short maturity. Accounts receivable and accounts payable are categorized as Level 2.
There have been no transfers and no changes in valuation methods for these assets or liabilities for the years ended
December 31, 2014 and 2013.