Note 4 - Investments | 9 Months Ended |
Sep. 30, 2014 |
Investments, Debt and Equity Securities [Abstract] | ' |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | ' |
4 | Investments | | | | | | | | | | | | | | | |
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Onvia classifies short-term and long-term investments in debt securities as available-for-sale, stated at fair value as summarized in the following table (in thousands): |
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| | 30-Sep-14 | |
| | Amortized | | | Gross | | | Gross | | | Fair Value | |
Cost | Unrealized | Unrealized |
| Gains | Losses |
| | | | | | | | | | | | |
Short-Term Investments | | | | | | | | | | | | |
Certificates of Deposit (1) | | $ | 6,348 | | | $ | - | | | $ | (1 | ) | | $ | 6,347 | |
Total Short-Term Investments | | | 6,348 | | | | - | | | | (1 | ) | | | 6,347 | |
Long-Term Investments | | | | | | | | | | | | | | | | |
Certificates of Deposit (1) | | | 91 | | | | - | | | | - | | | | 91 | |
Total Long-Term Investments | | | 91 | | | | - | | | | - | | | | 91 | |
Total Investments | | $ | 6,439 | | | $ | - | | | $ | (1 | ) | | $ | 6,438 | |
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(1) We evaluated certificates of deposits held as of September 30, 2014 and concluded that they meet the definition of securities as available for sale. |
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| | 31-Dec-13 | |
| | Amortized | | | Gross | | | Gross | | | Fair Value | |
Cost | Unrealized | Unrealized |
| Gains | Losses |
| | | | | | | | | | | | |
Short-Term Investments | | | | | | | | | | | | |
U.S. Government backed securities | | $ | 2,252 | | | $ | - | | | $ | - | | | $ | 2,252 | |
Certificates of Deposit (1) | | | 3,212 | | | | - | | | | (1 | ) | | | 3,211 | |
Total Short-Term Investments | | | 5,464 | | | | - | | | | (1 | ) | | | 5,463 | |
Long-Term Investments | | | | | | | | | | | | | | | | |
Certificates of Deposit (1) | | | 90 | | | | - | | | | - | | | | 90 | |
Total Long-Term Investments | | | 90 | | | | - | | | | - | | | | 90 | |
Total Investments | | $ | 5,554 | | | $ | - | | | $ | (1 | ) | | $ | 5,553 | |
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(1) We evaluated certificates of deposits held as of December 31, 2013 and concluded that they meet the definition of securities as available for sale. |
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Onvia accounts investments available for sale according to their fair values, which is defined as the exchange price that would be received for an asset, or paid to transfer a liability (an exit price), in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The Company utilizes a fair value hierarchy which requires an entity to maximize the use of observable inputs and minimize the use of unobservable inputs when measuring fair value. The following are the three levels of inputs that may be used to measure fair value: |
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Level 1 — Quoted prices in active markets for identical assets or liabilities. |
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Level 2 — Observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are observable or can be corroborated by observable market data for substantially the full term of the assets or liabilities. |
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Level 3 — Unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. |
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Onvia uses the market approach to measure fair value for its financial assets and liabilities. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets or liabilities. |
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The following table summarizes, by major security type, investments classified as available-for-sale at September 30, 2014 and at December 31, 2013 , stated at fair value (in thousands): |
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| | Fair Value Measurements as of September 30, 2014 | |
| | Level 1 | | | Level 2 | | | Level 3 | | | Balance as of | |
30-Sep-14 |
| | | | | | | | | | | | |
Certificates of Deposit | | $ | - | | | $ | 6,438 | | | $ | - | | | $ | 6,438 | |
| | $ | - | | | $ | 6,438 | | | $ | - | | | $ | 6,438 | |
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| | Fair Value Measurements as of December 31, 2013 | |
| | Level 1 | | | Level 2 | | | Level 3 | | | Balance as of | |
31-Dec-13 |
| | | | | | | | | | | | |
U.S. Government backed securities | | $ | - | | | $ | 2,252 | | | $ | - | | | $ | 2,252 | |
Certificates of Deposit | | | - | | | | 3,301 | | | | - | | | | 3,301 | |
| | $ | - | | | $ | 5,553 | | | $ | - | | | $ | 5,553 | |
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There were no transfers in or out of Level 2 investments during the first nine months of 2014 and fourth quarter of 2013, and there was no activity in Level 1 or Level 3 fair value measurements during those periods. |
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