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Fair Value Measurements
 9 Months Ended
Sep. 30, 2018
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
We measure certain financial instruments at fair value using a fair value hierarchy. In the hierarchy, assets are classified based on the lowest level inputs used in valuation into the following categories:
•
Level 1 — Quoted prices in active markets for identical assets and liabilities;
•
Level 2 — Observable inputs including quoted market prices for similar assets and liabilities in active markets, quoted prices for identical assets and liabilities in inactive markets, or inputs that are corroborated by observable market data; and
•
Level 3 — Unobservable inputs.
The following table summarizes assets that are measured at fair value on a recurring basis at September 30, 2018:
(in thousands)
Level 1
 
Level 2
 
Level 3
 
Total
Cash and cash equivalents
 
 
 
 
 
 
 
Money market funds
$
119,718

 
$
—

 
$
—

 
$
119,718

 
 
 
 
 
 
 
 
Short-term investments
 
 
 
 
 
 
 
Commercial paper
$
—

 
$
31,040

 
$
—

 
$
31,040

Corporate bonds
$
—

 
$
3,085

 
$
—

 
$
3,085


We did not have any liabilities measured and recorded at fair value at September 30, 2018, and we did not have any assets or liabilities measured at fair value at December 31, 2017.