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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2019
Fair Value Disclosures [Abstract] |
Investments Measured at Fair Value on Recurring Basis | Investments measured at fair value on a recurring basis consisted of the following:
|  |  |  |  | Fair Value Measurements Using |
(in thousands) | Carrying Value |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
December 31, 2019: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Classified as current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and money market funds | $ | 112,279 |  |  | $ | 112,279 |  |  | $ | — |  |  | $ | — |
Commercial paper |  | 144,472 |  |  |  | — |  |  |  | 144,472 |  |  |  | — |
Securities of government-sponsored entities |  | 142,773 |  |  |  | — |  |  |  | 142,773 |  |  |  | — |
Corporate debt securities |  | 271,000 |  |  |  | — |  |  |  | 271,000 |  |  |  | — |
blank |  | 670,524 |  |  |  | 112,279 |  |  |  | 558,245 |  |  |  | — |
Classified as long-term assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Certificates of deposit |  | 3,206 |  |  |  | 3,206 |  |  |  | — |  |  |  | — |
Securities of government-sponsored entities |  | 48,708 |  |  |  | — |  |  |  | 48,708 |  |  |  | — |
Corporate debt securities |  | 250,946 |  |  |  | — |  |  |  | 250,946 |  |  |  | — |
Restricted equity securities |  | 55,868 |  |  |  | — |  |  |  | — |  |  |  | 55,868 |
blank |  | 1,029,252 |  |  |  | 115,485 |  |  |  | 857,899 |  |  |  | 55,868 |
Less cash and cash equivalents and restricted cash |  | (115,485 | ) |  |  | (115,485 | ) |  |  | — |  |  |  | — |
Total investments | $ | 913,767 |  |  | $ | — |  |  | $ | 857,899 |  |  | $ | 55,868 |
blank |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
December 31, 2018: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Classified as current assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and money market funds | $ | 141,714 |  |  | $ | 141,714 |  |  | $ | — |  |  | $ | — |
Commercial paper |  | 94,572 |  |  |  | — |  |  |  | 94,572 |  |  |  | — |
Securities of government-sponsored entities |  | 20,840 |  |  |  | — |  |  |  | 20,840 |  |  |  | — |
Corporate debt securities |  | 393,787 |  |  |  | — |  |  |  | 393,787 |  |  |  | — |
blank |  | 650,913 |  |  |  | 141,714 |  |  |  | 509,199 |  |  |  | — |
Classified as long-term assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and money market funds |  | 1,500 |  |  |  | 1,500 |  |  |  | — |  |  |  | — |
Certificates of deposit |  | 3,977 |  |  |  | 3,977 |  |  |  | — |  |  |  | — |
Securities of government-sponsored entities |  | 64,837 |  |  |  | — |  |  |  | 64,837 |  |  |  | — |
Corporate debt securities |  | 151,191 |  |  |  | — |  |  |  | 151,191 |  |  |  | — |
blank |  | 872,418 |  |  |  | 147,191 |  |  |  | 725,227 |  |  |  | — |
Less cash and cash equivalents and restricted cash |  | (147,191 | ) |  |  | (147,191 | ) |  |  | — |  |  |  | — |
Total investments | $ | 725,227 |  |  | $ | — |  |  | $ | 725,227 |  |  | $ | — |
Reconciliation of Restricted Equity Securities Measured at Fair Value on Recurring Basis | A reconciliation of restricted equity securities measured at fair value on a recurring basis follows.
(in thousands) |  |  |
Balance at December 31, 2018 |  | $ | — |
Investments in restricted equity securities |  |  | 68,855 |
Net unrealized loss recognized on restricted equity securities during the period |  |  | (12,987) |
Balance at December 31, 2019 |  | $ | 55,868 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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