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INVESTMENTS | 12 Months Ended
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Dec. 31, 2018
Investments Debt And Equity Securities [Abstract] |
INVESTMENTS | NOTE 3. INVESTMENTS Available-for-sale securities are carried at fair value, with the unrealized gains and losses reported in comprehensive income (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 are 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 investment income and other, net. 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 and other, net. Investments at December 31, 2018 and 2017 consisted of the following:
| December 31, |
(in thousands) | 2018 |  |  | 2017 |
Commercial paper | $ | 94,572 |  |  | $ | 75,362 |
Corporate debt securities |  | 544,978 |  |  |  | 414,815 |
Securities of government-sponsored entities |  | 85,677 |  |  |  | 18,401 |
Total investments | $ | 725,227 |  |  | $ | 508,578 |
The following is a summary of investments classified as available-for-sale securities:
(in thousands) | Contractual Maturity (in years) |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Aggregate Estimated Fair Value |
December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Classified as current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper | Less than 1 |  | $ | 94,617 |  |  | $ | — |  |  | $ | (45 | ) |  | $ | 94,572 |
Corporate debt securities | Less than 1 |  |  | 395,385 |  |  |  | — |  |  |  | (1,598 | ) |  |  | 393,787 |
Securities of government-sponsored entities | Less than 1 |  |  | 20,887 |  |  |  | 8 |  |  |  | (55 | ) |  |  | 20,840 |
Total short-term available-for-sale securities |  |  | $ | 510,889 |  |  | $ | 8 |  |  | $ | (1,698 | ) |  | $ | 509,199 |
Classified as non-current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities | 1 to 2 |  | $ | 151,594 |  |  | $ | 66 |  |  | $ | (469 | ) |  | $ | 151,191 |
Securities of government-sponsored entities | 1 to 2 |  |  | 64,676 |  |  |  | 162 |  |  |  | (1 | ) |  |  | 64,837 |
Total long-term available-for-sale securities |  |  | $ | 216,270 |  |  | $ | 228 |  |  | $ | (470 | ) |  | $ | 216,028 |
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 |
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, 2018 and 2017, aggregated by investment category and length of time that individual securities have been in a continuous loss position:
| Less Than 12 Months |  |  | 12 Months or Greater |  |  | Total |
(in thousands) | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |  |  | Estimated Fair Value |  |  | Unrealized Losses |
December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper | $ | 51,927 |  |  | $ | (45 | ) |  | $ | — |  |  | $ | — |  |  | $ | 51,927 |  |  | $ | (45 | )
Corporate debt securities |  | 274,696 |  |  |  | (746 | ) |  |  | 234,798 |  |  |  | (1,321 | ) |  |  | 509,494 |  |  |  | (2,067 | )
Securities of government-sponsored entities |  | 4,999 |  |  |  | (1 | ) |  |  | 10,947 |  |  |  | (55 | ) |  |  | 15,946 |  |  |  | (56 | )
Total | $ | 331,622 |  |  | $ | (792 | ) |  | $ | 245,745 |  |  | $ | (1,376 | ) |  | $ | 577,367 |  |  | $ | (2,168 | )
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 | )
At each reporting date, the Company performs an evaluation of impairment to determine if any unrealized losses are other-than-temporary. Factors considered in determining whether a loss is other-than-temporary include the length of time and extent to which fair value has been less than the cost basis, the financial condition of the issuer, and the Company’s intent and ability to hold the investment until recovery of its amortized cost basis. The Company intends, and has the ability, to hold its investments in unrealized loss positions until their amortized cost basis has been recovered. Based on its evaluation, the Company determined that its unrealized losses were not other-than-temporary at December 31, 2018 and 2017.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
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