v3.20.2

Marketable Investment Securities | 6 Months Ended
--- | ---
Jun. 30, 2020
Investments, Debt and Equity Securities [Abstract] |
MARKETABLE INVESTMENT SECURITIES | MARKETABLE INVESTMENT SECURITIES The following table presents our Marketable investment securities:
|  | As of |  |
|  | June 30, 2020 |  | December 31, 2019
Marketable investment securities: |  |  |  |
Debt securities: |  |  |  |
Available-for-sale: |  |  |  |
Corporate bonds |  | $ | 381,201 |  |  | $ | 568,442 |
Other debt securities |  | 89,924 |  |  | 335,580 |
Total available-for-sale debt securities |  | 471,125 |  |  | 904,022 |
Fair value option - corporate bonds |  | 12,038 |  |  | 9,128 |
Total debt securities |  | 483,163 |  |  | 913,150 |
Equity securities |  | 27,548 |  |  | 35,566 |
Total marketable investment securities, including restricted amounts |  | 510,711 |  |  | 948,716 |
Less: Restricted marketable investment securities |  | (731) |  |  | (8,093) |
Total marketable investment securities |  | $ | 509,980 |  |  | $ | 940,623 |
Debt Securities Our corporate bond portfolio includes debt instruments issued by individual corporations, primarily in the industrial and financial services industries. Our other debt securities portfolio includes investments in various debt instruments, including U.S. government bonds, commercial paper and mutual funds. Available-for-Sale The following table presents the components of our available-for-sale debt securities:
|  | Amortized |  | Unrealized |  |  |  | Estimated
|  | Cost |  | Gains |  | Losses |  | Fair Value
As of June 30, 2020 |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 381,071 |  |  | $ | 132 |  |  | $ | (2) |  |  | $ | 381,201 |
Other debt securities |  | 89,923 |  |  | 1 |  |  | — |  |  | 89,924 |
Total available-for-sale debt securities |  | $ | 470,994 |  |  | $ | 133 |  |  | $ | (2) |  |  | $ | 471,125 |
As of December 31, 2019 |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 567,926 |  |  | $ | 518 |  |  | $ | (2) |  |  | $ | 568,442 |
Other debt securities |  | 335,572 |  |  | 8 |  |  | — |  |  | 335,580 |
Total available-for-sale debt securities |  | $ | 903,498 |  |  | $ | 526 |  |  | $ | (2) |  |  | $ | 904,022 |
The following table presents the activity on our available-for-sale debt securities:
|  | For the three months ended June 30, |  |  |  | For the six months ended June 30, |  |
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Proceeds from sales |  | $ | — |  |  | $ | — |  |  | $ | 10,000 |  |  | $ | 435,978 |
Gains (losses) on sales, net |  | $ | — |  |  | $ | — |  |  | $ | — |  |  | $ | 549 |
As of June 30, 2020, all $471.1 million of our available-for-sale debt securities had contractual maturities of one year or less. Fair Value Option The following table presents the activity on our fair value option corporate bonds:
|  | For the three months ended June 30, |  |  |  | For the six months ended June 30, |  |
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Proceeds from sales |  | $ | — |  |  | $ | 46,717 |  |  | $ | — |  |  | $ | 46,717 |
Gains (losses) on investments, net |  | $ | (298) |  |  | $ | 224 |  |  | $ | (4,506) |  |  | $ | 4,422 |
Equity Securities The following table presents the activity of our equity securities:
|  | For the three months ended June 30, |  |  |  | For the six months ended June 30, |  |
|  | 2020 |  | 2019 |  | 2020 |  | 2019
Proceeds from sales |  | $ | 4,719 |  |  | $ | 29,051 |  |  | $ | 4,853 |  |  | $ | 79,928 |
Gains (losses) on investments, net |  | $ | 2,512 |  |  | $ | 13,028 |  |  | $ | (8,603) |  |  | $ | 43,277 |
Fair Value Measurements The following table presents our marketable investment securities categorized by the fair value hierarchy, certain of which have historically experienced volatility:
|  | As of |  |  |  |  |  |  |  |  |  |
|  | June 30, 2020 |  |  |  |  |  | December 31, 2019 |  |  |  |
|  | Level 1 |  | Level 2 |  | Total |  | Level 1 |  | Level 2 |  | Total
Debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale: |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | — |  |  | $ | 381,201 |  |  | $ | 381,201 |  |  | $ | — |  |  | $ | 568,442 |  |  | $ | 568,442 |
Other debt securities |  | 731 |  |  | 89,193 |  |  | 89,924 |  |  | 8,093 |  |  | 327,487 |  |  | 335,580 |
Total available-for-sale debt securities |  | 731 |  |  | 470,394 |  |  | 471,125 |  |  | 8,093 |  |  | 895,929 |  |  | 904,022 |
Fair value option - corporate bonds |  | — |  |  | 12,038 |  |  | 12,038 |  |  | — |  |  | 9,128 |  |  | 9,128 |
Total debt securities |  | 731 |  |  | 482,432 |  |  | 483,163 |  |  | 8,093 |  |  | 905,057 |  |  | 913,150 |
Equity securities |  | 19,872 |  |  | 7,676 |  |  | 27,548 |  |  | 27,933 |  |  | 7,633 |  |  | 35,566 |
Total marketable investment securities, including restricted amounts |  | 20,603 |  |  | 490,108 |  |  | 510,711 |  |  | 36,026 |  |  | 912,690 |  |  | 948,716 |
Less: Restricted marketable investment securities |  | (731) |  |  | — |  |  | (731) |  |  | (8,093) |  |  | — |  |  | (8,093) |
Total marketable investment securities |  | $ | 19,872 |  |  | $ | 490,108 |  |  | $ | 509,980 |  |  | $ | 27,933 |  |  | $ | 912,690 |  |  | $ | 940,623 |
As of June 30, 2020 and December 31, 2019, we did not have any investments that were categorized within Level 3 of the fair value hierarchy.

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for cash, cash equivalents, investments in debt and equity instruments (including cost and equity investees and related income statement amounts), equity and cost method investments, investments in joint ventures and any other investment. + References No definition available. + Details
Name: | us-gaap_InvestmentsInDebtAndEquityInstrumentsCashAndCashEquivalentsUnrealizedAndRealizedGainsLossesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration