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Fair Value Measurement (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2020 and December 31, 2019 are classified based on the valuation technique level in the tables below (in thousands):

			June 30, 2020
			Total						Level 1						Level 2
Assets:
Cash equivalents:
U.S. treasury securities			$	117,402					$	117,402					$	—
Money market funds			150,002						150,002						—
Short-term investments:
Corporate securities			402,434						—						402,434
U.S. treasury securities			15,096						15,096						—
Long-term investments:
Corporate securities			219,736						—						219,736
Agency bonds			60,756						—						60,756
Total assets measured and recorded at fair value			$	965,426					$	282,500					$	682,926

			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 June 30, 2020 and December 31, 2019 are as follows (in thousands):

			June 30, 2020																		December 31, 2019
			Carrying Amount						Estimated Fair Value						Carrying Amount						Estimated Fair Value
2025 notes			$	621,508					$	1,135,320					$	602,611					$	831,000
2023 notes			304,685						862,840						297,692						523,538
Convertible senior notes, net			$	926,193					$	1,998,160					$	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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- References

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X

- 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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