v3.7.0.1
Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2017
Fair Value Disclosures [Abstract]  
Assets and Liabilities Carried at Fair Value on a Recurring Basis

Note 13—Fair Value Measurements (continued)
As of March 31, 2017 and December 31, 2016, our assets and liabilities carried at fair value on a recurring basis were as follows:
 
Level 1
 
Level 2
 
Level 3
 
Total Fair Value
March 31, 2017
(In thousands)
Assets
 
 
 
 
 
 
 
Corporate bonds
$

 
$
12,059

 
$

 
$
12,059

Commercial paper

 
3,885

 

 
3,885

U.S. Treasury notes

 
25,837

 

 
25,837

Mortgage-backed securities

 
112,377

 

 
112,377

Municipal bonds

 
1,288

 

 
1,288

Asset-backed securities

 
28,363

 

 
28,363

Total assets
$

 
$
183,809

 
$

 
$
183,809

 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Contingent consideration
$

 
$

 
$
26,442

 
$
26,442

 
 
 
 
 
 
 
 
December 31, 2016
 
 
 
 
 
 
 
Assets
 
 
 
 
 
 
 
Corporate bonds
$

 
$
21,535

 
$

 
$
21,535

Commercial paper

 
12,430

 

 
12,430

U.S. Treasury notes

 
21,563

 

 
21,563

Agency securities

 
4,001

 

 
4,001

Mortgage-backed securities

 
117,491

 

 
117,491

Municipal bonds

 
1,430

 

 
1,430

Asset-backed securities

 
29,976

 

 
29,976

Total assets
$

 
$
208,426

 
$

 
$
208,426

 
 
 
 
 
 
 
 
Liabilities
 
 
 
 
 
 
 
Contingent consideration
$

 
$

 
$
8,634

 
$
8,634

Change in Contingent Consideration Payable
The following table presents changes in our contingent consideration payable for the three months ended March 31, 2017 and 2016, which is categorized in Level 3 of the fair value hierarchy:
 
Three Months Ended March 31,
 
2017
 
2016
 
 
Balance, beginning of period
$
8,634

 
$
13,889

Issuance
18,000

 

Payments of contingent consideration
(192
)
 
(189
)
Balance, end of period
$
26,442

 
$
13,700