XML 22 R11.htm IDEA: XBRL DOCUMENT
v3.19.1

Cash, Cash Equivalents, Marketable Securities and Restricted Cash | 3 Months Ended
--- | ---
Mar. 31, 2019
Cash, Cash Equivalents, and Short-term Investments [Abstract] |
Cash, Cash Equivalents, Marketable Securities and Restricted Cash | Cash, Cash Equivalents, Marketable Securities and Restricted Cash As of March 31, 2019, the Company held $96.3 million in cash and cash equivalents and $342.0 million of available-for-sale debt securities which are reported at fair value on the Company's consolidated balance sheets. Unrealized holding gains and losses are reported within accumulated other comprehensive loss in the statements of comprehensive loss. If a decline in the fair value of a marketable security below the Company's cost basis is determined to be other-than-temporary, such marketable security is written down to its estimated fair value as a new cost basis and the amount of the write-down is included in earnings as an impairment charge. The Company regularly invests excess operating cash in deposits with major financial institutions, money market funds, notes issued by the U.S. government, as well as fixed income investments and U.S. bond funds, both of which can be readily purchased and sold using established markets. The Company believes that the market risk arising from its holdings of these financial instruments is mitigated as many of these securities are either government backed or of the highest credit rating. Investments that have original maturities greater than three months but less than one year are classified as current, while investments that have maturities greater than one year are classified as long-term. Cash, cash equivalents and marketable securities are classified as current unless mentioned otherwise below and consisted of the following:
| As of March 31, 2019
(in thousands) | Cost |  | Gross unrealized Gain |  | Gross unrealized Loss |  | Fair Value
Cash and cash equivalents | $ | 96,349 |  |  | $ | — |  |  | $ | — |  |  | $ | 96,349 |
Corporate debt securities, current portion | 138,194 |  |  | 96 |  |  | (6 | ) |  | 138,284 |
Commercial paper | 134,948 |  |  | 52 |  |  | (7 | ) |  | 134,993 |
Asset-backed securities | 68,278 |  |  | 30 |  |  | (8 | ) |  | 68,300 |
Money market | 350 |  |  | — |  |  | — |  |  | 350 |
Certificates of deposit | 51 |  |  | — |  |  | — |  |  | 51 |
| $ | 438,170 |  |  | $ | 178 |  |  | $ | (21 | ) |  | $ | 438,327 |
Included in cash and cash equivalents | $ | 96,349 |  |  | $ | — |  |  | $ | — |  |  | $ | 96,349 |
Included in marketable securities, current and non-current | 341,821 |  |  | 178 |  |  | (21 | ) |  | 341,978 |
Total cash, cash equivalents and marketable securities | $ | 438,170 |  |  | $ | 178 |  |  | $ | (21 | ) |  | $ | 438,327 |
| As of December 31, 2018
(in thousands) | Cost |  | Gross unrealized Gain |  | Gross unrealized Loss |  | Fair Value
Cash and cash equivalents | $ | 79,749 |  |  | $ | — |  |  | $ | — |  |  | $ | 79,749 |
Corporate debt securities, current portion | 240,969 |  |  | 7 |  |  | (250 | ) |  | 240,726 |
Commercial paper | 115,245 |  |  | — |  |  | (104 | ) |  | 115,141 |
Asset-backed securities | 68,215 |  |  | 4 |  |  | (84 | ) |  | 68,135 |
Money market | 350 |  |  | — |  |  | — |  |  | 350 |
Certificates of deposit | 51 |  |  | — |  |  | — |  |  | 51 |
| $ | 504,579 |  |  | $ | 11 |  |  | $ | (438 | ) |  | $ | 504,152 |
Included in cash and cash equivalents | $ | 79,749 |  |  | $ | — |  |  | $ | — |  |  | $ | 79,749 |
Included in marketable securities | 424,830 |  |  | 11 |  |  | (438 | ) |  | 424,403 |
Total cash, cash equivalents and marketable securities | $ | 504,579 |  |  | $ | 11 |  |  | $ | (438 | ) |  | $ | 504,152 |
For the three months ended March 31, 2019 there were no realized gains. For the fiscal year ended December 31, 2018, there were no minal realized gains. The cost of securities sold is based on the specific identification method. Unrealized loss positions in the available-for-sale debt securities as of March 31, 2019 and December 31, 2018 reflect temporary impairments that have been in a loss position for less than twelve months and as such are recognized in other comprehensive gain (loss). The fair value of these available-for-sale debt securities in unrealized loss positions was $100.4 million and $403.1 million as of March 31, 2019 and December 31, 2018, respectively. The following table provides a reconciliation of cash and cash equivalents and restricted cash reported within the consolidated balance sheets that sum to the total of the same such amounts shown in the Company's consolidated statements of cash flows.
(in thousands) | March 31, 2019 |  | December 31, 2018 |  | March 31, 2018 |  | December 31, 2017
Cash and cash equivalents | $ | 96,349 |  |  | $ | 79,749 |  |  | $ | 114,322 |  |  | $ | 49,060 |
Restricted cash | 2,579 |  |  | 2,626 |  |  | 2,230 |  |  | 2,177 |
Cash and cash equivalents and restricted cash shown in the statement of cash flows | $ | 98,928 |  |  | $ | 82,375 |  |  | $ | 116,552 |  |  | $ | 51,237 |

X
- References No definition available. + Details
Name: | us-gaap_CashCashEquivalentsAndShortTermInvestmentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of the components of cash, cash equivalents, and short-term investments. Short-term investments may include current marketable securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 305 -URI http://asc.fasb.org/topic&trid=2122426 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_CashCashEquivalentsAndShortTermInvestmentsTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration