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Marketable Securities and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2018

Investments, All Other Investments [Abstract]

Short-Term And Long-Term Marketable Securities

As of December 31, 2018 and 2017, the estimated fair value of our short-term and long-term marketable securities, classified as available for sale, are as follows (in thousands):

Short-term

December 31, 2018		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Commercial paper		$	17,793			$	—			$	—			$	17,793
Corporate bonds		45,100				—				(48		)		45,052
U.S. government agency bonds		19,981				—				(77		)		19,904
U.S. government treasury bonds		15,292				—				(1		)		15,291
Certificates of deposit		420				1				(1		)		420
Total marketable securities, short-term		$	98,586			$	1			$	(127	)		$	98,460

Long-term

December 31, 2018		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Corporate bonds		$	4,957			$	5			$	(2	)		$	4,960
U.S. government agency bonds		1,399				8				—				1,407
U.S. government treasury bonds		2,235				9				—				2,244
Certificates of deposit		500				1				—				501
Total marketable securities, long-term		$	9,091			$	23			$	(2	)		$	9,112

Short-term

December 31, 2017		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Commercial paper		$	58,503			$	—			$	(1	)		$	58,502
Corporate bonds		145,728				3				(174		)		145,557
U.S. government agency bonds		3,013				—				(7		)		3,006
U.S. government treasury bonds		60,650				—				(70		)		60,580
Certificates of deposit		4,386				—				—				4,386
Total marketable securities, short-term		$	272,280			$	3			$	(252	)		$	272,031

Long-term

December 31, 2017		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
U.S. government agency bonds		$	15,023			$	—			$	(68	)		$	14,955
Corporate bonds		25,067				2				(76		)		24,993
Total marketable securities, long-term		$	40,090			$	2			$	(144	)		$	39,948

Marketable Securities

As the carrying value approximates the fair value for our short-term and long-term marketable securities shown in the tables above, the following table summarizes the fair value of our short-term and long-term marketable securities classified by contractual maturity as of December 31, 2018 and 2017 (in thousands):

		December 31,
		2018				2017
One year or less		$	98,460			$	272,031
Due in greater than one year		9,112				39,948
Total marketable securities		$	107,572			$	311,979

Investments in privately held companies

Our investments in privately held companies as of December 31, 2018 and December 31, 2017 are as follows (in thousands):

	December 31,
	2018				2017
Equity securities under the equity method investment 1	$	45,913			$	54,606
Equity securities without readily determinable fair values 2	$	9,862			$	—

¹  Refer to Note 4 “Equity Method Investments” of the Notes to Consolidated Financial Statements for more information

²   In April 2018, $4.9 million of convertible short term notes receivable (recurring Level 3 investment) was converted into equity securities as a result of qualified financing secured by the private company in accordance with ASC 321, “Investments—Equity Securities.” The equity securities issued upon conversion are reported as a nonrecurring investment within other assets in our Consolidated Balance Sheet. During the year ended December 31, 2018, there were no fair value adjustments to equity securities without readily determinable fair values.

Financial Assets Measured At Fair Value On A Recurring Basis

The following tables summarize our financial assets measured at fair value on a recurring basis as of December 31, 2018 and 2017 (in thousands):

Description		Balance as of December 31, 2018				Level 1				Level 2
Cash equivalents:
Money market funds		$	431,081			$	431,081			$	—
Commercial paper		4,681				—				4,681
U.S. government treasury bonds		2,195				2,195				—
Corporate bonds		3,880				—				3,880
Short-term investments:
Commercial paper		17,793				—				17,793
Corporate bonds		45,052				—				45,052
U.S. government agency bonds		19,904				—				19,904
U.S. government treasury bonds		15,291				15,291				—
Certificates of deposit		420				—				420
Long-term investments:
U.S. government agency bonds		1,407				—				1,407
Corporate bonds		4,960				—				4,960
U.S. government treasury bonds		2,244				2,244				—
Certificate of deposit		501				—				501
Prepaid expenses and other current assets:
Israeli funds		3,047				—				3,047
		$	552,456			$	450,811			$	101,645

Description		Balance as of December 31, 2017				Level 1				Level 2				Level 3
Cash equivalents:
Money market funds		$	253,155			$	253,155			$	—			$	—
Commercial paper		7,246				—				7,246				—
Corporate bonds		2,016				—				2,016				—
Short-term investments:
Commercial paper		58,502				—				58,502				—
Corporate bonds		145,557				—				145,557				—
U.S. government agency bonds		3,006				—				3,006				—
U.S. government treasury bonds		60,580				60,580				—				—
Certificates of deposit		4,386				—				4,386				—
Long-term investments:
U.S. government agency bonds		14,955				—				14,955				—
Corporate bonds		24,993				—				24,993				—
Prepaid expenses and other current assets:
Israeli funds		3,075				—				3,075				—
Short-term notes receivable		4,476				—				—				4,476
		$	581,947			$	313,735			$	263,736			$	4,476

Schedule of Notional Amounts of Outstanding Derivative Positions

The following table presents the gross notional value of all our foreign exchange forward contracts outstanding as of December 31, 2018 (in thousands):

	December 31, 2018
	Local Currency Amount		Notional Contract Amount (USD)
Euro	€62,000		$	71,095
Chinese Yuan	¥375,000		54,515
Brazilian Real	R$81,000		20,858
Canadian Dollar	C$27,000		19,808
British Pound	£13,000		16,635
Japanese Yen	¥1,700,000		15,357
Australian Dollar	A$3,000		2,114
			$	200,382

X

- Definition

Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities.

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