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Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2017
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Measurements of Financial Assets and Liabilities | The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities at September 30, 2017 and December 31, 2016.
|  | September 30, 2017 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (in thousands) |
Cash equivalents and investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 26,230 |  |  | $ | — |  |  | $ | — |  |  | $ | 26,230 |
Commercial paper |  |  | — |  |  |  | 4,767 |  |  |  | — |  |  |  | 4,767 |
Corporate bonds |  |  | — |  |  |  | 77,359 |  |  |  | — |  |  |  | 77,359 |
U.S. government agency obligations |  |  | — |  |  |  | 8,990 |  |  |  | — |  |  |  | 8,990 |
U.S. Treasury securities |  |  | — |  |  |  | 368,422 |  |  |  | — |  |  |  | 368,422 |
Restricted cash: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | — |  |  |  | 5,106 |  |  |  | — |  |  |  | 5,106 |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Strategic investments |  |  | — |  |  |  | — |  |  |  | 2,800 |  |  |  | 2,800 |
Total |  | $ | 26,230 |  |  | $ | 464,644 |  |  | $ | 2,800 |  |  | $ | 493,674 |
|  | December 31, 2016 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
|  | (in thousands) |
Cash equivalents and investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 32,260 |  |  | $ | — |  |  | $ | — |  |  | $ | 32,260 |
Commercial paper |  |  | — |  |  |  | 12,439 |  |  |  | — |  |  |  | 12,439 |
Corporate bonds |  |  | — |  |  |  | 66,947 |  |  |  | — |  |  |  | 66,947 |
U.S. government agency obligations |  |  | — |  |  |  | 10,980 |  |  |  | — |  |  |  | 10,980 |
Total |  | $ | 32,260 |  |  | $ | 90,366 |  |  | $ | — |  |  | $ | 122,626 |
Summary of Composition of Short and Long Term Investments | The following tables summarize the composition of our short- and long-term investments at September 30, 2017 and December 31, 2016.
|  | September 30, 2017 |
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Aggregate Fair Value |
|  | (in thousands) |
Commercial paper |  | $ | 4,770 |  |  | $ | — |  |  | $ | (3 | ) |  | $ | 4,767 |
Corporate bonds |  |  | 77,460 |  |  |  | 2 |  |  |  | (103 | ) |  |  | 77,359 |
U.S. government agency obligations |  |  | 8,999 |  |  |  | — |  |  |  | (9 | ) |  |  | 8,990 |
U.S. Treasury securities |  |  | 259,663 |  |  |  | 26 |  |  |  | (6 | ) |  |  | 259,683 |
Total |  | $ | 350,892 |  |  | $ | 28 |  |  | $ | (121 | ) |  | $ | 350,799 |
|  | December 31, 2016 |
|  | Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Aggregate Fair Value |
|  | (in thousands) |
Commercial paper |  | $ | 12,446 |  |  | $ | — |  |  | $ | (7 | ) |  | $ | 12,439 |
Corporate bonds |  |  | 67,126 |  |  |  | — |  |  |  | (179 | ) |  |  | 66,947 |
U.S. government agency obligations |  |  | 10,998 |  |  |  | — |  |  |  | (18 | ) |  |  | 10,980 |
Total |  | $ | 90,570 |  |  | $ | — |  |  | $ | (204 | ) |  | $ | 90,366 |
Summary of Contractual Maturities of Short and Long Term Investments | The contractual maturities of short-term and long-term investments held at September 30, 2017 and December 31, 2016 are as follows:
|  | September 30, 2017 |  |  | December 31, 2016 |
|  | Amortized Cost Basis |  |  | Aggregate Fair Value |  |  | Amortized Cost Basis |  |  | Aggregate Fair Value |
|  | (in thousands) |  |  | (in thousands) |
Due within one year |  | $ | 315,178 |  |  | $ | 315,130 |  |  | $ | 54,694 |  |  | $ | 54,648 |
Due after 1 year through 2 years |  |  | 35,714 |  |  |  | 35,669 |  |  |  | 35,876 |  |  |  | 35,718 |
Total |  | $ | 350,892 |  |  | $ | 350,799 |  |  | $ | 90,570 |  |  | $ | 90,366 |

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=75019621&loc=d3e62557-112803 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27337-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27198-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75019621&loc=d3e62586-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27357-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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- Definition Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19279-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=66048111&loc=SL7498348-110258 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 + Details
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