|EXCEL - IDEA: XBRL DOCUMENT - IXIA||Financial_Report.xls|
|XML - IDEA: XBRL DOCUMENT - IXIA||R2.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R1.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R8.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R4.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R3.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R7.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R9.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R6.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R11.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R13.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R16.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R12.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R15.htm|
|EX-32.1 - EXHIBIT 32.1 - IXIA||ex32-1.htm|
|EX-31.1 - EXHIBIT 31.1 - IXIA||ex31-1.htm|
|EX-31.2 - EXHIBIT 31.2 - IXIA||ex31-2.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R5.htm|
|XML - IDEA: XBRL DOCUMENT - IXIA||R10.htm|
|10-Q - FORM 10-Q - IXIA||ixia_10q-033112.htm|
Note 7 - Fair Value Measurements
|3 Months Ended|
Mar. 31, 2012
|Fair Value Disclosures [Text Block]||
7. Fair Value Measurements
Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in the principal or most advantageous market for an asset or liability in an orderly transaction between market participants at the measurement date. The hierarchy below lists three levels of fair value based on the extent to which inputs used in measuring fair value are observable in the market. We categorize each of our fair value measurements in one of these three levels based on the lowest level input that is significant to the fair value measurement in its entirety. This hierarchy prioritizes the inputs into three broad levels as follows:
Financial assets carried at fair value as of March 31, 2012 and December 31, 2011 are classified in the table below in one of the three categories described above (in thousands):
To estimate the fair value of our money market funds, U.S. treasury, government and agency debt securities and corporate debt securities, we use the estimated fair value per our investment brokerage/custodial statements. To the extent deemed necessary, we may also obtain non-binding market quotes to corroborate the estimated fair values reflected in our investment brokerage/custodial statements.
As of March 31, 2012, we held $3.0 million of auction rate securities which we classify as Level 3 because they are valued using valuation models with unobservable marketable inputs. Given the disruption in the auction process, there is no longer an actively quoted market price for these securities. Accordingly, we utilized models to estimate the fair values of these auction rate securities based on, certain unobservable inputs and other items, including: (i) the underlying structure of each security; (ii) the present value of future principal, interest and/or dividend payments discounted at the appropriate rate considering the market rate and conditions; (iii) consideration of the probabilities of default, auction failure, or repurchase at par for each period; and (iv) credit quality and estimates of the recovery rates in the event of default for each security. These estimated fair values could change significantly based on, among other events: (i) a further deterioration in market conditions for these securities; (ii) further declines in the credit quality of our auction rate securities or of the issuers of our auction rate securities; or (iii) a cessation of dividend payments or default on interest or principal payments by the issuer of the securities. Significant increases or decreases in any of these unobservable inputs in isolation may result in a significantly lower or higher fair value measurement.
There were no transfers of assets between levels within the fair value hierarchy for the three-month ended March 31, 2012.
The following table summarizes the activity for the three months ended March 31, 2012 and 2011 for our auction rate securities where fair value measurements are estimated utilizing Level 3 inputs (in thousands):
There were no unrealized losses recorded in earnings for Level 3 assets still held at March 31, 2012.
The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.
Reference 1: http://www.xbrl.org/2003/role/presentationRef