eFax 2014 Annual Report Download - page 74
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Please find page 74 of the 2014 eFax annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report. The following tables present the fair values of the Company’s financial assets or liabilities that are measured at fair value on a recurring basis (in thousands):
At the end of each reporting period, management reviews the inputs to measure the fair value measurements of financial and non-
financial assets and liabilities to
determine when transfers between levels are deemed to have occurred. On September 30, 2014, management reevaluated the inputs of its Level 1 assets used in determining fair
value and transferred $206.9 million of financial instruments from Level 1 to Level 2. The Company determined the fair value of such transfer as of the end of the reporting period.
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December 31, 2014 Level 1
Level 2
Level 3
Fair Value
Assets:
Cash equivalents:
Money market and other funds
$
212,645
$
—
$
—
$
212,645
Time deposits —
51,807
—
51,807
Certificates of Deposit —
65
—
65
Equity securities
36,245
—
—
36,245
Debt securities issued by the U.S. Treasury and other U.S. government
corporations and agencies —
26,844
—
26,844
Debt securities issued by states of the United States and political subdivisions
of the states —
2,093
—
2,093
Corporate debt securities —
91,467
—
91,467
Total assets measured at fair value
$
248,890
$
172,276
$
—
$
421,166
Liabilities:
Contingent consideration
$
—
$
—
$
15,000
$
15,000
Contingent interest derivative —
742
—
742
Total liabilities measured at fair value
$
—
$
742
$
15,000
$
15,742
December 31, 2013 Level 1
Level 2
Level 3
Fair Value
Assets:
Cash equivalents:
Money market and other funds
$
101,231
$
—
$
—
$
101,231
Time deposits
22,773
—
—
22,773
Certificates of Deposit
14,403
—
—
14,403
Equity securities
30,047
—
—
30,047
Debt securities issued by the U.S. Treasury and other U.S. government
corporations and agencies
23,702
—
—
23,702
Debt securities issued by states of the United States and political subdivisions
of the states
3,296
—
—
3,296
Corporate debt securities
66,692
—
—
66,692
Total assets measured at fair value
$
262,144
$
—
$
—
$
262,144