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Fair value of financial instruments and investments (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Disclosures [Abstract]

Schedule of financial assets and liabilities that are required to be measured at fair value on a recurring basis

The following represents the fair value using the hierarchy described in Note 2 for the Company’s financial assets and liabilities that are required to be measured at fair value on a recurring basis as of December 31, 2016 and 2015:

		December 31, 2016
		Total				Quoted prices in active markets for identical assets (level 1)				Significant other observable inputs (level 2)				Significant unobservable inputs (level 3)
Marketable securities		$	173,345			$	—			$	173,345			$	—
Warrant liability		$	1			—				—				1
Stock appreciation rights liability		$	865			—				—				865

		December 31, 2015
		Total				Quoted prices in active markets for identical assets (level 1)				Significant other observable inputs (level 2)				Significant unobservable inputs (level 3)
Marketable securities		$	280,903			$	—			$	280,903			$	—
Warrant Liability		$	48			—				—				48
Stock appreciation rights liability		$	—			—				—				—

Summary of marketable securities accounted for as available-for-sale securities

The following is a summary of marketable securities accounted for as available-for-sale securities at December 31, 2016 and 2015:

		December 31, 2016
		Amortized Cost				Gross Unrealized								Fair Value
													Gains					Losses
Commercial paper					$	12,919			$	47			$	—				$	12,966
Corporate debt securities		153,240				52				(103		)		153,189
Government obligations		7,188				2				—				7,190
		$	173,347			$	101			$	(103	)		$	173,345

		December 31, 2015
		Amortized Cost				Gross Unrealized								Fair Value
													Gains					Losses
Commercial paper					$	26,877			$	80			$	—				$	26,957
Corporate debt securities		226,959				—				(640		)		226,319
Government obligations		27,656				3				(32		)		27,627
		$	281,492			$	83			$	(672	)		$	280,903

Schedule of marketable securities on the balance sheet

Marketable securities on the balance sheet at December 31, 2016 and 2015 mature as follows:

		December 31, 2016
		Less Than 12 Months				More Than 12 Months
Commercial paper		$	12,966			$	—
Corporate debt securities		137,196				15,993
Government obligations		7,190				—
Total Marketable securities		$	157,352			$	15,993

		December 31, 2015
		Less Than 12 Months				More Than 12 Months
Commercial paper		$	26,957			$	—
Corporate debt securities		140,831				85,488
Government obligations		18,994				8,633
Total Marketable securities		$	186,782			$	94,121

Summary of changes in the fair value of the Company's Level 3 valuation for warrant liability

The table presented below is a summary of changes in the fair value of the Company’s Level 3 valuation for the warrant liability and SARs liability for the years ended December 31, 2016 and 2015:

		Level 3 liabilities
		Warrants				SARs
Beginning balance as of January 1, 2015		$	188			$	—
Change in fair value		(140		)		—
Ending balance as of December 31, 2015		$	48			$	—
Fair value of issuances		—				140
Change in fair value		(47		)		725
Ending balance as of December 31, 2016		$	1			$	865

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Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability.

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-Publisher FASB
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Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

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Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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).

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