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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Fair Value Measurements of Cash Equivalents, Available-For-Sale Investment Securities and Equity Securities

The recurring fair value measurements of the Company’s cash equivalents, available-for-sale investment securities, and equity securities at December 31, 2018 and 2017 consisted of the following (in thousands):

 

 

 

 

 

 

 

Fair Value Measurements at

Reporting Date Using

 

 

 

December 31,

2018

 

 

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

 

 

Significant

Other

Observable

Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs

(Level 3)

 

Money market fund

 

$

34,018

 

 

$

34,018

 

 

$

 

 

$

 

Equity securities

 

 

1,309

 

 

 

1,309

 

 

 

 

 

 

 

Corporate debt securities

 

 

224,474

 

 

 

 

 

 

224,474

 

 

 

 

Commercial paper

 

 

191,564

 

 

 

 

 

 

191,564

 

 

 

 

 

 

$

451,365

 

 

$

35,327

 

 

$

416,038

 

 

$

 

 

 

 

 

 

 

 

Fair Value Measurements at

Reporting Date Using

 

 

 

December 31,

2017

 

 

Quoted Prices

in Active

Markets for

Identical

Assets

(Level 1)

 

 

Significant

Other

Observable

Inputs

(Level 2)

 

 

Significant

Unobservable

Inputs

(Level 3)

 

Money market fund

 

$

38,057

 

 

$

38,057

 

 

$

 

 

$

 

U.S. Treasury notes

 

 

32,964

 

 

 

32,964

 

 

 

 

 

 

 

Government sponsored enterprise securities

 

 

10,072

 

 

 

 

 

 

10,072

 

 

 

 

Corporate debt securities

 

 

154,396

 

 

 

 

 

 

154,396

 

 

 

 

Commercial paper

 

 

98,052

 

 

 

 

 

 

98,052

 

 

 

 

 

 

$

333,541

 

 

$

71,021

 

 

$

262,520

 

 

$