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Fair Value Measurement (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

Financial instruments measured and recorded at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 are classified based on the valuation technique level in the tables below (in thousands):

	March 31, 2020
	Total				Level 1				Level 2
Assets:
Cash equivalents:
Money market funds	$	160,346			$	160,346			$	—
Short-term investments:
Corporate securities	357,919				—				357,919
U.S. treasury securities	31,856				31,856				—
Agency bonds	15,019				—				15,019
Long-term investments:
Corporate securities	254,586				—				254,586
Agency bonds	18,528				—				18,528
Total assets measured and recorded at fair value	$	838,254			$	192,202			$	646,052

	December 31, 2019
	Total				Level 1				Level 2
Assets:
Cash equivalents:
Money market funds	$	146,165			$	146,165			$	—
Short-term investments:
Commercial paper	7,489				—				7,489
Corporate securities	319,293				—				319,293
U.S. treasury securities	44,286				44,286				—
Agency bonds	10,006				—				10,006
Long-term investments:
Corporate securities	295,478				—				295,478
Agency bonds	15,005				—				15,005
Total assets measured and recorded at fair value	$	837,722			$	190,451			$	647,271

Fair Value Measurements, Nonrecurring

The carrying amounts and estimated fair values of the notes as of March 31, 2020 and December 31, 2019 are as follows (in thousands):

	March 31, 2020								December 31, 2019
	Carrying Amount				Estimated Fair Value				Carrying Amount				Estimated Fair Value
2025 notes	$	612,059			$	744,000			$	602,611			$	831,000
2023 notes	301,190				492,581				297,692				523,538
Convertible senior notes, net	$	913,249			$	1,236,581			$	900,303			$	1,354,538

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- Definition

Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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