SeaChange International, Inc. Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements (Tables)

Fair Value Measurements (Tables)

12 Months Ended

Jan. 31, 2017

Fair Value of Financial Assets and Liabilities Measured on Recurring Basis

The following tables set forth our financial assets and liabilities that were accounted for at fair value on a recurring basis as of January 31, 2017 and January 31, 2016. There were no fair value measurements of our financial assets and liabilities using significant level 3 inputs for the periods presented:


			Fair Value at January 31, 2017 Using
	January 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(Amounts in thousands)
Financial assets:
Money market accounts (a)	$	2,726	$	2,726	$	—
Available-for-sale marketable securities:
Current marketable securities:
U.S. treasury notes and bonds—conventional		4,253		4,253		—
U.S. government agency issues		1,000		—		1,000
Non-current marketable securities:
U.S. treasury notes and bonds—conventional		1,997		1,997		—
U.S. government agency issues		2,994		—		2,994

Total	$	12,970	$	8,976	$	3,994


			Fair Value at January 31, 2016 Using
	January 31, 2016		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)
	(Amounts in thousands)
Financial assets:
Money market accounts (a)	$	3,654	$	3,654	$	—
Available-for-sale marketable securities:
Current marketable securities:
U.S. treasury notes and bonds—conventional		502		502		—
U.S. government agency issues		1,002		—		1,002
Non-current marketable securities:
U.S. treasury notes and bonds—conventional		7,762		7,762		—
U.S. government agency issues		3,002		—		3,002

Total	$	15,922	$	11,918	$	4,004

a)	Money market funds and U.S. treasury bills are included in cash and cash equivalents on the accompanying consolidated balance sheets and are valued at quoted market prices for identical instruments in active markets.

Summary of Available-for-Sale Securities

The following is a summary of cash, cash equivalents and available-for-sale securities, including the cost basis, aggregate fair value and unrealized gains and losses, for short-and long-term marketable securities portfolio as of January 31, 2017 and 2016:


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Estimated Fair Value
	(Amounts in thousands)
January 31, 2017:
Cash	$	25,576	$	—	$	—		$	25,576
Cash equivalents		2,726		—		—			2,726

Cash and cash equivalents		28,302		—		—			28,302

U.S. treasury notes and bonds—short-term		4,248		5		—			4,253
U.S. treasury notes and bonds—long-term		2,003		—		(6	)		1,997
U.S. government agency issues—short-term		991		9		—			1,000
U.S. government agency issues—long-term		2,996		—		(2	)		2,994

Total cash, cash equivalents and marketable securities	$	38,540	$	14	$	(8	)	$	38,546

January 31, 2016:
Cash	$	55,079	$	—	$	—		$	55,079
Cash equivalents		3,654		—		—			3,654

Cash and cash equivalents		58,733		—		—			58,733

U.S. treasury notes and bonds—short-term		503		—		(1	)		502
U.S. treasury notes and bonds—long-term		7,756		6		—			7,762
U.S. government agency issues—short-term		1,001		1		—			1,002
U.S. government agency issues—long-term		2,977		25		—			3,002

Total cash, cash equivalents and marketable securities	$	70,970	$	32	$	(1	)	$	71,001

Schedule of Contractual Maturities Available-for-Sale Debt Securities

Contractual maturities of available-for-sale debt securities at January 31, 2017 are as follows (amounts in thousands):


	Estimated Fair Value
Maturity of one year or less	$	5,253
Maturity between one and five years		4,991

Total	$	10,244