eFax 2011 Annual Report Download - page 61

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The following tables present the fair values of j2 Global’
s financial instruments that are measured at fair value on a recurring basis (in
thousands):
The following table provides a summary of changes in fair value of j2 Global’
s Level 3 financial assets as of December 31, 2011 and
2010 (in thousands):
Losses associated with other-than-
temporary impairments are recorded as a component of other income. Gains and losses not associated
with other-than-temporary impairments are recorded as a component of other comprehensive income.
6. Property and Equipment
Property and equipment, stated at cost, at December 31, 2011 and 2010 consisted of the following (in thousands):
December 31, 2011
Level 1
Level 2
Level 3
Fair Value
Cash equivalents:
Money market and other funds
$
79,945
$
—
$
—
$
79,945
Time deposits
7,082
—
—
7,082
Certificates of Deposit
8,000
—
—
8,000
Equity Securities
2
—
—
2
Debt securities issued by the U.S. Treasury and other U.S.
government corporations and agencies
15,006
—
—
15,006
Debt securities issued by states of the United States and
political subdivisions of the states
16,228
—
—
16,228
Debt securities issued by foreign governments
6,544
—
—
6,544
Corporate debt securities
35,811
—
—
35,811
Total
$
168,618
$
—
$
—
$
168,618
December 31, 2010
Level 1
Level 2
Level 3
Fair Value
Cash equivalents:
Money market and other funds
$
3,087
$
—
$
—
$
3,087
Time deposits
4,765
—
—
4,765
Certificates of Deposit
6
—
—
6
Equity Securities
6,603
—
—
6,603
Debt securities issued by foreign governments
2,865
—
—
2,865
Corporate debt securities
12,240
—
—
12,240
Auction Rate Securities
—
—
496
496
Total
$
29,566
$
—
$
496
$
30,062
Level 3 Financial Assets
Year Ended
December 31,
2011
Year Ended
December 31,
2010
Beginning Balance
$
496
$
1,781
Total gains (losses)
-
realized/unrealized
Included in earnings (other than temporary impairment)
553
3,922
Not included in earnings
(322
)
(507
)
Purchases, issuances and settlements
(727
)
—
Transfers in and/or out of Level 3
—
—
Balance, December 31, 2011 and 2010
$
—
$
496
Total losses for the period included in earnings relating to assets still held at December 31,
2011 and 2010
$
—
$
—
2011
2010
Computers and related equipment
$
50,888
$
44,151
Furniture and equipment
1,205
1,153
Leasehold improvements
3,756
3,768
55,849
49,072
Less: Accumulated depreciation and amortization
(41,411
)
(35,505
)
Total property and equipment, net
$
14,438
$
13,567