v3.19.3

FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables) | 9 Months Ended
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Sep. 30, 2019
Fair Value Disclosures [Abstract] |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis | The Company’s financial assets and liabilities that are measured at fair value on a recurring basis are classified as follows (in thousands):
| September 30, 2019 |  | December 31, 2018
| Level 1 |  | Level 2 |  | Level 3 |  | Level 1 |  | Level 2 |  | Level 3
Cash Equivalents: |  |  |  |  |  |  |  |  |  |  |
Money market funds | $ | 304,690 |  |  | $ | — |  |  | $ | — |  |  | $ | 218,109 |  |  | $ | — |  |  | $ | — |
U.S. agency securities | — |  |  | 40,410 |  |  | — |  |  | — |  |  | 46,423 |  |  | — |
Time deposits | 10,146 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
U.S. government securities | 23,963 |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Municipal securities | — |  |  | — |  |  | — |  |  | 86,239 |  |  | — |  |  | — |
Foreign securities | — |  |  | — |  |  | — |  |  | — |  |  | 23,981 |  |  | — |
Customer funds: |  |  |  |  |  |  |  |  |  |  |
Money market funds | 388 |  |  | — |  |  | — |  |  | 18 |  |  | — |  |  | — |
U.S. agency securities | — |  |  | 23,321 |  |  | — |  |  | — |  |  | 67,282 |  |  | — |
U.S. government securities | 229,171 |  |  | — |  |  | — |  |  | 108,020 |  |  | — |  |  | — |
Short-term debt securities: |  |  |  |  |  |  |  |  |  |  |
U.S. agency securities | — |  |  | 132,348 |  |  | — |  |  | — |  |  | 80,122 |  |  | — |
Corporate bonds | — |  |  | 55,501 |  |  | — |  |  | — |  |  | 109,519 |  |  | — |
Commercial paper | — |  |  | 2,245 |  |  | — |  |  | — |  |  | — |  |  | — |
Municipal securities | — |  |  | 2,669 |  |  | — |  |  | — |  |  | 27,832 |  |  | — |
U.S. government securities | 351,717 |  |  | — |  |  | — |  |  | 292,267 |  |  | — |  |  | — |
Foreign securities | — |  |  | 13,176 |  |  | — |  |  | — |  |  | 31,251 |  |  | — |
Long-term debt securities: |  |  |  |  |  |  |  |  |  |  |
U.S. agency securities | — |  |  | 87,903 |  |  | — |  |  | — |  |  | 114,560 |  |  | — |
Corporate bonds | — |  |  | 185,563 |  |  | — |  |  | — |  |  | 159,252 |  |  | — |
Municipal securities | — |  |  | 12,582 |  |  | — |  |  | — |  |  | 28,594 |  |  | — |
U.S. government securities | 250,265 |  |  | — |  |  | — |  |  | 154,124 |  |  | — |  |  | — |
Foreign securities | — |  |  | 28,195 |  |  | — |  |  | — |  |  | 8,150 |  |  | — |
Other: |  |  |  |  |  |  |  |  |  |  |
Marketable equity investment | 28,875 |  |  | — |  |  | — |  |  | 45,342 |  |  | — |  |  | — |
Total | $ | 1,199,215 |  |  | $ | 583,913 |  |  | $ | — |  |  | $ | 904,119 |  |  | $ | 696,966 |  |  | $ | — |
The estimated fair value and carrying value of loans held for sale is as follows (in thousands):
| September 30, 2019 |  | December 31, 2018
| Carrying Value |  | Fair Value (Level 3) |  | Carrying Value |  | Fair Value (Level 3)
Loans held for sale | $ | 120,776 |  |  | $ | 126,218 |  |  | $ | 89,974 |  |  | $ | 93,064 |
Total | $ | 120,776 |  |  | $ | 126,218 |  |  | $ | 89,974 |  |  | $ | 93,064 |
The estimated fair value and carrying value of the convertible senior notes were as follows (in thousands):
| September 30, 2019 |  | December 31, 2018
| Carrying Value |  | Fair Value (Level 2) |  | Carrying Value |  | Fair Value (Level 2)
2023 Notes | $ | 740,921 |  |  | $ | 961,092 |  |  | $ | 718,522 |  |  | $ | 901,468 |
2022 Notes | 187,948 |  |  | 575,661 |  |  | 181,173 |  |  | 515,693 |
Total | $ | 928,869 |  |  | $ | 1,536,753 |  |  | $ | 899,695 |  |  | $ | 1,417,161 |

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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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