Travelzoo 2015 Annual Report Download - page 106
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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, 2015
and 2014 (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, 2015
Cash $ 35,128 $ 35,128 $ — $ —
Total cash $ 35,128 $ 35,128 $ — $ —
Certificates of deposit $ 708 $ — $ 708 $ —
Merchant bank deposit 725 725 — —
Total restricted cash and cash equivalents $ 1,433 $ 725 $ 708 $ —
Balance at December 31, 2014
Cash $ 55,417 $ 55,417 $ — $ —
Total cash $ 55,417 $ 55,417 $ — $ —
Certificates of deposit $ 762 $ — $ 762 $ —
Merchant bank deposit 800 800 — —
Total restricted cash and cash equivalents $ 1,562 $ 800 $ 762 $ —
At December 31, 2015 and 2014, 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.
At December 31, 2015 and 2014, the notes payable to related party is 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 relatively short maturity and subsequent payment.
There have been no transfers and no changes in valuation methods for these assets or liabilities for the years ended
December 31, 2015 and 2014.