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Fair Value Measurements
 12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Fair Value Measurements FAIR VALUE MEASUREMENTS
The Company's financial instruments consist of cash equivalents, short-term investments, accounts receivable, auction rate securities, accounts payable, drawings on revolving lines of credit, long-term debt, interest rate swaps and contingent purchase consideration.
The valuation techniques used to measure fair value are based upon observable and unobservable inputs. Observable inputs reflect market data obtained from independent sources, while unobservable inputs reflect internal market assumptions. These two types of inputs create the following fair value hierarchy: Level 1, defined as observable inputs such as quoted prices for identical instruments in active markets; Level 2, defined as inputs other than quoted prices in active markets that are either directly or indirectly observable; and Level 3, defined as unobservable inputs for which little or no market data exists, therefore requiring an entity to develop its own assumptions.
The carrying amounts of money market fund deposits, term deposits, accounts receivable, accounts payable and drawings on revolving lines of credit are considered reasonable estimates of their fair market value due to the short maturity of most of these instruments or as a result of the competitive market interest rates, which have been negotiated. The Company's bond securities are reported at fair value based upon quoted prices for instruments with identical terms in active markets. The Company's commercial paper securities reported at fair value are based upon model-driven valuations in which all significant inputs are observable or can be derived from or corroborated by observable market data for substantially the full term of the 
asset or liability, and are therefore classified as Level 2. At December 31, 2018, the Company's long-term notes consisted of a variable rate note and a fixed rate note, and the book value is considered a reasonable estimate of fair market value.
The following table presents fair value information related to the Company's assets and liabilities measured at amortized cost on the Consolidated Balance Sheets with the exception of the interest rate swap, which is measured at fair value:
Fair Value Measurements at December 31, 2018
 TotalLevel 1Level 2Level 3
Assets
Cash equivalents:
Money market fund deposits and term deposits
$180,965 $180,965 $— $— 
U.S. Treasury and agency obligations
6,495 6,495 — — 
Commercial paper
78,948 — 78,948 — 
Short-term investments:
U.S. Treasury and agency obligations
116,800 116,800 — — 
Corporate bonds
227,009 227,009 — — 
Commercial paper
156,321 — 156,321 — 
Long-term investments and other assets:
Corporate bonds
3,859 3,859 — — 
Auction rate securities
847 — — 847 
Interest rate swap
31 — 31 — 
Total assets
$771,275 $535,128 $235,300 $847 
Liabilities
Long-term notes
$45,378 $— $45,378 $— 
Contingent purchase consideration
898 — — 898 
Total liabilities
$46,276 $— $45,378 $898 

   Fair Value Measurements at December 31, 2017
  
 TotalLevel 1Level 2Level 3
Assets
Cash equivalents:
Money market fund deposits and term deposits
$425,917 $425,917 $— $— 
Short-term investments:
U.S. Treasury and agency obligations
41,217 41,217 — — 
Corporate bonds
131,048 131,048 — — 
Commercial paper
33,896 33,896 — — 
Long-term investments and other assets:
Auction rate securities
1,016 — — 1,016 
Interest rate swap
16 — 16 — 
Total assets
$633,110 $632,078 $16 $1,016 
Liabilities
Long-term notes
$48,982 $— $48,982 $— 
Contingent purchase consideration
902 — — 902 
Total liabilities
$49,884 $— $48,982 $902 
Short-term investments consist of liquid investments including U.S. government and government agency notes, corporate bonds, commercial paper and certificates of deposit with original maturities of greater than three months but less than one year
and are recorded at amortized cost. The fair value of the short-term investments considered held-to-maturity as of December 31, 2018 and December 31, 2017 was $500,130 and $206,161, respectively, which represents an unrealized loss of $302 and $96, respectively, as compared to the book value recorded on the consolidated balance sheets for the same periods. The fair value of the long-term investments considered held-to-maturity as of December 31, 2018 was $3,859, which represents the book value recorded on the Consolidated Balance Sheet for the same period. There were no long-term investments considered held-to-maturity as of December 31, 2017. There were no impairments for the investments considered held-to-maturity at December 31, 2018 and December 31, 2017.
The Company entered into an interest rate swap that is designated as a cash flow hedge associated with a new long-term note issued during the second quarter of 2016 that will terminate with the long-term note in May 2023. The fair value at December 31, 2018 for the interest rate swap considered pricing models whose inputs are observable for the securities held by the Company.
Auction rate securities and contingent consideration are measured at fair value on a recurring basis using significant unobservable inputs (Level 3). The fair value of the auction rate securities was determined using prices observed in inactive markets with limited observable data for the securities held by the Company. The auction rate securities are considered available-for-sale securities. They had a cost basis of $847 and $1,012 at December 31, 2018 and December 31, 2017, respectively. There were no impairments for the available-for-sale securities at December 31, 2018 and December 31, 2017.
The fair value of contingent consideration was determined using an income approach at the respective business combination date and at the reporting date. That approach is based on significant inputs that are not observable in the market and include key assumptions such as assessing the probability of meeting certain milestones required to earn the contingent consideration.
The following table presents information about the Company's movement in Level 3 assets and liabilities measured at fair value:
201820172016
Auction rate securities
Balance, January 1$1,016 $1,144 $1,136 
Period transactions(207)— — 
Change in fair value38 (128)8 
Balance, December 31$847 $1,016 $1,144 
Contingent purchase consideration
Balance, January 1$902 $— $20 
Period transactions— 902 (21)
Change in fair value48 — 1 
Foreign exchange adjustment(52)— — 
Balance, December 31$898 $902 $— 
The following table presents the effective maturity dates of debt investments as of December 31, 2018 and December 31, 2017:
December 31, 2018December 31, 2017
Book Value Fair Value Book Value Fair Value 
Investment maturity 
Held-to-maturity 
Less than 1 year $585,875 $585,573 $206,257 $206,161 
1 through 5 years 3,859 3,859 — — 
Total $589,734 $589,432 $206,257 $206,161 
Available-for-sale 
Greater than 5 years $847 $847 $1,012 $1,016