v3.20.2

Marketable Investment Securities (Tables)

6 Months Ended

Jun. 30, 2020

Investments, Debt and Equity Securities [Abstract]

Schedule of 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

Schedule of unrealized gains (losses) on available-for-sale securities

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

Schedule of activity on available-for-sale debt securities

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

Schedule of activity on fair value option bonds

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

Schedule of activity in 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

Schedule of 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

- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

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-Publisher FASB
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-Name Accounting Standards Codification
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