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INVESTMENTS | 12 Months Ended
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Dec. 31, 2017
Investments Schedule [Abstract] |
INVESTMENTS | NOTE 3. INVESTMENTS Available-for-sale securities are carried at fair value, with the unrealized gains and losses reported in comprehensive loss. The amortized cost of debt securities in this category is adjusted for amortization of premiums and accretion of discounts to maturity. Such amortization and accretion is included in investment income. Realized gains and losses and declines in value judged to be other-than-temporary, if any, on available-for-sale securities are included in other income or expense. The cost of securities sold is based on the specific identification method. Interest and dividends on securities classified as available-for-sale are included in investment income. Investments at December 31, 2017 and 2016 consisted of the following (in thousands):
|  | Years Ended December 31, |
|  | 2017 |  |  | 2016 |
Certificates of deposit |  | $ | — |  |  | $ | 960 |
Commercial paper |  |  | 75,362 |  |  |  | 49,245 |
Corporate debt securities |  |  | 414,815 |  |  |  | 204,436 |
Securities of government-sponsored entities |  |  | 18,401 |  |  |  | 12,932 |
Total investments |  | $ | 508,578 |  |  | $ | 267,573 |
The following is a summary of investments classified as available-for-sale securities (in thousands):
|  | Contractual Maturity (in years) |  |  | Amortized Cost |  |  | Gross Unrealized Gains(1) |  |  | Gross Unrealized Losses(1) |  |  | Aggregate Estimated Fair Value |
December 31, 2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Classified as current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  |  | Less than 1 |  |  | $ | 960 |  |  | $ | — |  |  | $ | — |  |  | $ | 960 |
Commercial paper |  |  | Less than 1 |  |  |  | 49,280 |  |  |  | 3 |  |  |  | (38 | ) |  |  | 49,245 |
Corporate debt securities |  |  | Less than 1 |  |  |  | 168,548 |  |  |  | 3 |  |  |  | (117 | ) |  |  | 168,434 |
Securities of government-sponsored entities |  |  | Less than 1 |  |  |  | 5,448 |  |  |  | — |  |  |  | (4 | ) |  |  | 5,444 |
Total short-term available-for-sale securities |  |  |  |  |  | $ | 224,236 |  |  | $ | 6 |  |  | $ | (159 | ) |  | $ | 224,083 |
Classified as non-current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  |  | 1 to 2 |  |  | $ | 36,149 |  |  | $ | — |  |  | $ | (147 | ) |  | $ | 36,002 |
Securities of government-sponsored entities |  |  | 1 to 2 |  |  |  | 7,506 |  |  |  | — |  |  |  | (18 | ) |  |  | 7,488 |
Total long-term available-for-sale securities |  |  |  |  |  | $ | 43,655 |  |  | $ | — |  |  | $ | (165 | ) |  | $ | 43,490 |
December 31, 2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Classified as current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  |  | Less than 1 |  |  | $ | 75,396 |  |  | $ | 1 |  |  | $ | (35 | ) |  | $ | 75,362 |
Corporate debt securities |  |  | Less than 1 |  |  |  | 178,776 |  |  |  | — |  |  |  | (400 | ) |  |  | 178,376 |
Securities of government-sponsored entities |  |  | Less than 1 |  |  |  | 7,503 |  |  |  | — |  |  |  | (24 | ) |  |  | 7,479 |
Total short-term available-for-sale securities |  |  |  |  |  | $ | 261,675 |  |  | $ | 1 |  |  | $ | (459 | ) |  | $ | 261,217 |
Classified as non-current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  |  | 1 to 2 |  |  | $ | 237,749 |  |  | $ | — |  |  | $ | (1,310 | ) |  | $ | 236,439 |
Securities of government-sponsored entities |  |  | 1 to 2 |  |  |  | 11,004 |  |  |  | — |  |  |  | (82 | ) |  |  | 10,922 |
Total long-term available-for-sale securities |  |  |  |  |  | $ | 248,753 |  |  | $ | — |  |  | $ | (1,392 | ) |  | $ | 247,361 |
(1) | Unrealized gains and losses are included in other comprehensive loss.
The following table presents gross unrealized losses and fair value for those available-for-sale investments that were in an unrealized loss position as of December 31, 2017 and 2016, aggregated by investment category and length of time that individual securities have been in a continuous loss position (in thousands):
|  | Less Than 12 Months |  |  | 12 Months or Greater |  |  | Total |
|  | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |
December 31, 2016: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | $ | 43,781 |  |  | $ | (38 | ) |  | $ | — |  |  | $ | — |  |  | $ | 43,781 |  |  | $ | (38 | )
Corporate debt securities |  |  | 185,243 |  |  |  | (261 | ) |  |  | 9,144 |  |  |  | (3 | ) |  |  | 194,387 |  |  |  | (264 | )
Securities of government-sponsored entities |  |  | 12,932 |  |  |  | (22 | ) |  |  | — |  |  |  | — |  |  |  | 12,932 |  |  |  | (22 | )
Total |  | $ | 241,956 |  |  | $ | (321 | ) |  | $ | 9,144 |  |  | $ | (3 | ) |  | $ | 251,100 |  |  | $ | (324 | )
December 31, 2017: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | $ | 62,602 |  |  | $ | (35 | ) |  | $ | — |  |  | $ | — |  |  | $ | 62,602 |  |  | $ | (35 | )
Corporate debt securities |  |  | 386,728 |  |  |  | (1,660 | ) |  |  | 28,087 |  |  |  | (50 | ) |  |  | 414,815 |  |  |  | (1,710 | )
Securities of government-sponsored entities |  |  | 10,922 |  |  |  | (82 | ) |  |  | 7,479 |  |  |  | (24 | ) |  |  | 18,401 |  |  |  | (106 | )
Total |  | $ | 460,252 |  |  | $ | (1,777 | ) |  | $ | 35,566 |  |  | $ | (74 | ) |  | $ | 495,818 |  |  | $ | (1,851 | )

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- Definition The entire disclosure for investments, including all tables. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Article 6 -Section 10 -Paragraph (c) -Subparagraph (1) + Details
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- References No definition available. + Details
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