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Marketable Investments (Tables) | 3 Months Ended
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Mar. 31, 2018
Investments Debt And Equity Securities [Abstract] |
Summary of Company's Marketable Investments | The following table summarizes the Company’s marketable investments (in thousands):
|  | As of March 31, 2018 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Market |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Federal agency obligations |  | $ | 1,800 |  |  | $ | — |  |  | $ | (6 | ) |  | $ | 1,794 |
Corporate obligations |  |  | 52,800 |  |  |  | — |  |  |  | (336 | ) |  |  | 52,464 |
Total |  | $ | 54,600 |  |  | $ | — |  |  | $ | (342 | ) |  | $ | 54,258 |
|  | As of December 31, 2017 |
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Market |
|  | Cost |  |  | Gains |  |  | Losses |  |  | Value |
Federal agency obligations |  | $ | 1,800 |  |  | $ | — |  |  | $ | (7 | ) |  | $ | 1,793 |
Corporate obligations |  |  | 52,721 |  |  |  | — |  |  |  | (181 | ) |  |  | 52,540 |
Total |  | $ | 54,521 |  |  | $ | — |  |  | $ | (188 | ) |  | $ | 54,333 |
Summary of Maturity Periods of Marketable Investments | The following table summarizes the maturity periods of the marketable investments in the Company’s portfolio as of March 31, 2018 (in thousands).
|  | FY 2018 |  |  | FY 2019 |  |  | FY2020 |  |  | Total |
Federal agency obligations |  | $ | 1,794 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,794 |
Corporate obligations |  |  | 19,970 |  |  |  | 26,720 |  |  | $ | 5,774 |  |  |  | 52,464 |
Total |  | $ | 21,764 |  |  | $ | 26,720 |  |  | $ | 5,774 |  |  | $ | 54,258 |
Summary of Gross Unrealized Losses and Market Value of Available-for-Sale Securities with Unrealized Losses | The following table shows the gross unrealized losses and market value of the Company’s available-for-sale securities with unrealized losses that are not deemed to be other-than-temporary, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):
|  | As of March 31, 2018 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |
|  | Market |  |  | Unrealized |  |  | Market |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Federal agency obligations |  | $ | — |  |  | $ | — |  |  | $ | 1,794 |  |  | $ | 6 |
Corporate obligations |  |  | 39,966 |  |  |  | 295 |  |  |  | 12,498 |  |  |  | 41 |
Total |  | $ | 39,966 |  |  | $ | 295 |  |  | $ | 14,292 |  |  | $ | 47 |
|  | As of December 31, 2017 |
|  | Less Than 12 Months |  |  | 12 Months or Greater |
|  | Market |  |  | Unrealized |  |  | Market |  |  | Unrealized |
|  | Value |  |  | Losses |  |  | Value |  |  | Losses |
Federal agency obligations |  | $ | — |  |  | $ | — |  |  | $ | 1,793 |  |  | $ | 7 |
Corporate obligations |  |  | 31,723 |  |  |  | 149 |  |  |  | 20,817 |  |  |  | 32 |
Total |  | $ | 31,723 |  |  | $ | 149 |  |  | $ | 22,610 |  |  | $ | 39 |
Summary of Company's Fair Value Hierarchy for its Financial Assets | The following table represents the Company’s fair value hierarchy for its financial assets (cash equivalents and investments) measured at fair value on a recurring basis (in thousands):
|  | As of March 31, 2018 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Money market funds (1) |  | $ | 851 |  |  | $ | — |  |  | $ | — |  |  | $ | 851 |
Federal agency obligations |  |  | — |  |  |  | 1,794 |  |  |  | — |  |  |  | 1,794 |
Corporate obligations |  |  | — |  |  |  | 52,464 |  |  |  | — |  |  |  | 52,464 |
Total |  | $ | 851 |  |  | $ | 54,258 |  |  | $ | — |  |  | $ | 55,109 |
|  | As of December 31, 2017 |
|  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
Money market funds (1) |  | $ | 492 |  |  | $ | — |  |  | $ | — |  |  | $ | 492 |
Federal agency obligations |  |  | — |  |  |  | 1,793 |  |  |  | — |  |  | $ | 1,793 |
Corporate obligations |  |  | — |  |  |  | 52,540 |  |  |  | — |  |  |  | 52,540 |
Total |  | $ | 492 |  |  | $ | 54,333 |  |  | $ | — |  |  | $ | 54,825 |
(1) | Included in cash and cash equivalents.

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=75019621&loc=d3e62557-112803 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27337-111563 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27198-111563 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=75019621&loc=d3e62586-112803 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27161-111563 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 9 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27357-111563 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -URI http://asc.fasb.org/extlink&oid=82897076&loc=d3e27290-111563 + Details
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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19190-110258 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=66048111&loc=d3e19207-110258 + Details
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