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Marketable Securities | 6 Months Ended
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Jun. 30, 2018
Investments Debt And Equity Securities [Abstract] |
Marketable Securities | NOTE 3—MARKETABLE SECURITIES The Company classifies its marketable securities as available-for-sale and records its investments at estimated fair value based on quoted market prices or observable market inputs of substantially identical assets. Unrealized holding gains and losses are included in accumulated other comprehensive income (loss). Investments that have maturities beyond one year as of the end of the reporting period are classified as non-current. The Company’s investments are subject to a periodic impairment review. The Company recognizes an impairment charge when a decline in the fair value of its investments below the cost basis is judged to be other-than-temporary. The Company considers various factors in determining whether to recognize an impairment charge, including the length of time and extent to which the fair value has been less than the Company’s cost basis, the financial condition and near-term prospects of the investee, and the Company’s intent and ability to hold the investment for a period of time sufficient to allow for any anticipated recovery in the market value. Realized gains and losses on available-for-sale securities are included in other income, which is determined using the specific identification method The table below summarizes the Company’s investments (in thousands):
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |
|  | Cost |  |  | Gains |  |  | (Losses) |  |  | Fair Value |
June 30, 2018 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 41,909 |  |  | $ | — |  |  | $ | — |  |  | $ | 41,909 |
Commercial paper securities |  |  | 15,232 |  |  |  | 1 |  |  |  | — |  |  |  | 15,233 |
Total |  |  | 57,141 |  |  |  | 1 |  |  |  | — |  |  |  | 57,142 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper securities |  |  | 396,958 |  |  |  | 110 |  |  |  | (75 | ) |  |  | 396,993 |
Corporate debt securities |  |  | 98,834 |  |  |  | — |  |  |  | (158 | ) |  |  | 98,676 |
U.S. government-sponsored entity debt securities |  |  | 18,556 |  |  |  | — |  |  |  | (3 | ) |  |  | 18,553 |
Total |  |  | 514,348 |  |  |  | 110 |  |  |  | (236 | ) |  |  | 514,222 |
Total cash equivalents and available-for-sale securities |  | $ | 571,489 |  |  | $ | 111 |  |  | $ | (236 | ) |  | $ | 571,364 |
December 31, 2017 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 24,290 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,290 |
Commercial paper securities |  |  | 4,595 |  |  |  | — |  |  |  | — |  |  |  | 4,595 |
Total |  |  | 28,885 |  |  |  | — |  |  |  | — |  |  |  | 28,885 |
Available-for-sale securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper securities |  |  | 110,365 |  |  |  | — |  |  |  | (118 | ) |  |  | 110,247 |
Corporate debt securities |  |  | 75,886 |  |  |  | — |  |  |  | (131 | ) |  |  | 75,755 |
U.S. government-sponsored entity debt securities |  |  | 8,498 |  |  |  | — |  |  |  | (6 | ) |  |  | 8,492 |
Total |  |  | 194,749 |  |  |  | — |  |  |  | (255 | ) |  |  | 194,494 |
Total cash equivalents and available-for-sale securities |  | $ | 223,634 |  |  |  | — |  |  | $ | (255 | ) |  | $ | 223,379 |
The Company had no material realized losses or other-than-temporary impairments of its investments for the six months ended June 30, 2018 and 2017. As of June 30, 2018, all of the Company’s investments had maturity dates within one year, except for $34.2 million, which matures within 24 months. The Company has the intent and ability to hold its investments for a period of time sufficient to allow for any anticipated recovery in market value.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 + Details
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