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Marketable Securities
 9 Months Ended
Sep. 30, 2018
Marketable Securities [Abstract]  
Marketable Securities
 MARKETABLE SECURITIES

As a result of the passage of the 2017 Tax Act during the fourth quarter of 2017, we liquidated our marketable securities held outside the U.S. during the first quarter of 2018 and recognized a loss of approximately $0.3 million. We repatriated these funds and reduced our revolving debt balance during the first quarter of 2018.

The amortized cost and fair value of marketable securities as of December 31, 2017, were as follows (in thousands):

໿
As of December 31, 2017
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Fair Value

 
 

 
 

 
 

 
 
Corporate bonds
 
$
140,969

 
$
96

 
$
(179
)
 
$
140,886

Certificates of deposit
 
58,510

 
—

 
—

 
58,510

Commercial paper
 
29,171

 
—

 
—

 
29,171

Asset backed securities
 
22,206

 
4

 
(43
)
 
22,167

U.S. government bonds
 
15,619

 
11

 
(19
)
 
15,611

Agency bonds
 
10,990

 
9

 
(52
)
 
10,947

Treasury bills
 
6,964

 
—

 
(1
)
 
6,963

Total marketable securities
 
$
284,429

 
$
120

 
$
(294
)
 
$
284,255



We held marketable securities with effective maturities of two years or less that had an average AA- credit rating as of December 31, 2017.