XML 19 R8.htm IDEA: XBRL DOCUMENT
v3.10.0.1

Fair Value Measurement | 6 Months Ended
--- | ---
Jun. 30, 2018
Fair Value Disclosures [Abstract] |
Fair Value Measurement | NOTE 2—FAIR VALUE MEASUREMENT The Company measures certain financial assets and liabilities at fair value on a recurring basis, including cash equivalents, and available-for-sale marketable securities. The fair values of these assets were determined based on a three-tier hierarchy under the authoritative guidance for fair value measurements and disclosures that prioritizes the inputs used in measuring fair value as follows: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices in markets that are not active or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity). The fair value measurements of the Company’s cash equivalents and available-for-sale marketable securities are identified at the following levels within the fair value hierarchy (in thousands):
|  | June 30, 2018 |
|  | Fair Value Measurements |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 41,909 |  |  | $ | 41,909 |  |  | $ | — |  |  | $ | — |
Commercial paper securities |  |  | 15,233 |  |  |  | — |  |  |  | 15,233 |  |  |  | — |
Total |  |  | 57,142 |  |  |  | 41,909 |  |  |  | 15,233 |  |  |  | — |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper securities |  |  | 396,993 |  |  |  | — |  |  |  | 396,993 |  |  |  | — |
Corporate debt securities |  |  | 98,676 |  |  |  | — |  |  |  | 98,676 |  |  |  | — |
U.S. government-sponsored entity debt securities |  |  | 18,553 |  |  |  | — |  |  |  | 18,553 |  |  |  | — |
Total |  |  | 514,222 |  |  |  | — |  |  |  | 514,222 |  |  |  | — |
Total cash equivalents and marketable securities |  | $ | 571,364 |  |  | $ | 41,909 |  |  | $ | 529,455 |  |  |  | — |
|  | December 31, 2017 |
|  | Fair Value Measurements |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
Assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 24,290 |  |  | $ | 24,290 |  |  | $ | — |  |  | $ | — |
Commercial paper securities |  |  | 4,595 |  |  |  | — |  |  |  | 4,595 |  |  |  | — |
Total |  |  | 28,885 |  |  |  | 24,290 |  |  |  | 4,595 |  |  |  | — |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper securities |  |  | 110,247 |  |  |  | — |  |  |  | 110,247 |  |  |  | — |
Corporate debt securities |  |  | 75,755 |  |  |  | — |  |  |  | 75,755 |  |  |  | — |
U.S. government-sponsored entity debt securities |  |  | 8,492 |  |  |  | — |  |  |  | 8,492 |  |  |  | — |
Total |  |  | 194,494 |  |  |  | — |  |  |  | 194,494 |  |  |  | — |
Total cash equivalents and marketable securities |  | $ | 223,379 |  |  | $ | 24,290 |  |  | $ | 199,089 |  |  |  | — |
The Company generally classifies its marketable securities as Level 2. Instruments are classified as Level 2 when observable market prices for identical securities that are traded in less active markets are used. When observable market prices for identical securities are not available, such instruments are priced using benchmark curves, benchmarking of like securities, sector groupings, matrix pricing and valuation models. These valuation models are proprietary to the pricing providers or brokers and incorporate a number of inputs, including, listed in approximate order of priority: benchmark yields, reported trades, broker/dealer quotes, issuer spreads, two-sided markets, benchmark securities, bids, offers and reference data including market research publications. For certain security types, additional inputs may be used, or some of the standard inputs may not be applicable. Evaluators may prioritize inputs differently on any given day for any security based on market conditions, and not all inputs listed are available for use in the evaluation process for each security evaluation on any given day.

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

X
- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -URI http://asc.fasb.org/topic&trid=2155941 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration