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Balance Sheet Components | 12 Months Ended
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Dec. 31, 2018
Organization Consolidation And Presentation Of Financial Statements [Abstract] |
Balance Sheet Components |
5. | Balance Sheet Components
Cash and Cash Equivalents Cash and cash equivalents consisted of the following (in thousands):
|  | December 31, |
|  | 2018 |  |  | 2017 |
Cash |  | $ | 38,783 |  |  | $ | 103,716 |
US treasury notes and bills |  |  | 49,934 |  |  |  | — |
Money market funds |  |  | 541 |  |  |  | 569,942 |
Total cash and cash equivalents |  | $ | 89,258 |  |  | $ | 673,658 |
Property and Equipment Property and equipment consisted of the following (in thousands):
|  | December 31, |
|  | 2018 |  |  | 2017 |
Leasehold improvements |  | $ | 101,200 |  |  | $ | 93,758 |
Building shell (Refer to Note 8) |  |  | 53,880 |  |  |  | 53,879 |
Laboratory equipment |  |  | 16,405 |  |  |  | 19,497 |
Machinery |  |  | 8,382 |  |  |  | — |
Computer equipment |  |  | 6,473 |  |  |  | 6,006 |
Furniture and fixtures |  |  | 5,690 |  |  |  | 5,575 |
Construction in progress |  |  | 367 |  |  |  | 10,402 |
Total property and equipment |  | $ | 192,397 |  |  | $ | 189,117 |
Less: accumulated depreciation |  |  | (65,199 | ) |  |  | (59,641 | )
Property and equipment, net |  | $ | 127,198 |  |  | $ | 129,476 |
Depreciation expense for the years ended December 31, 2018, 2017 and 2016 was $6.6 million, $6.1 million, and $6.0 million, respectively. Investments The Company’s investments consist of available-for-sale debt investments, marketable equity investments, term deposit and certificate of deposit. The amortized cost, gross unrealized holding gains or losses, and fair value of the Company’s investments by major investments type are summarized in the tables below (in thousands):
|  | December 31, 2018 |
|  | Amortized Cost |  |  | Gross Unrealized Holding Gains |  |  | Gross Unrealized Holding Losses |  |  | Fair Value |
US treasury notes and bills |  | $ | 467,296 |  |  | $ | 109 |  |  | $ | (69 | ) |  | $ | 467,336 |
Term deposit |  |  | 80,000 |  |  |  | — |  |  |  | — |  |  |  | 80,000 |
Certificates of deposit |  |  | 30,000 |  |  |  | — |  |  |  | (90 | ) |  |  | 29,910 |
Bond and mutual funds |  |  | 10,464 |  |  |  | 20 |  |  |  | — |  |  |  | 10,484 |
Equity investments |  |  | 125 |  |  |  | 109 |  |  |  | — |  |  |  | 234 |
Total investments |  | $ | 587,885 |  |  | $ | 238 |  |  | $ | (159 | ) |  | $ | 587,964 |
|  | December 31, 2017 |
|  | Amortized Cost |  |  | Gross Unrealized Holding Gains |  |  | Gross Unrealized Holding Losses |  |  | Fair Value |
Corporate bonds |  | $ | 53,985 |  |  | $ | 4 |  |  | $ | (46 | ) |  | $ | 53,943 |
Bond and mutual funds |  |  | 17,249 |  |  |  | 1,153 |  |  |  | — |  |  |  | 18,402 |
Equity investments |  |  | 126 |  |  |  | 95 |  |  |  | — |  |  |  | 221 |
Total investments |  | $ | 71,360 |  |  | $ | 1,252 |  |  | $ | (46 | ) |  | $ | 72,566 |
The contractual maturities of the available-for-sale investments and term deposit were as follows (in thousands):
|  | December 31, 2018 |
Within one year |  | $ | 532,144 |
After one year through four years |  |  | 45,102 |
Total debt investments |  |  | 577,246 |
Bond and mutual funds |  |  | 10,484 |
Equity investments |  |  | 234 |
Total investments |  | $ | 587,964 |
The Company periodically reviews its available-for-sale investments and term deposit for other-than-temporary impairment. The Company considers factors such as the duration, severity and the reason for the decline in value, the potential recovery period and its intent to sell. For debt securities, the Company also considers whether (i) it is more likely than not that the Company will be required to sell the debt securities before recovery of their amortized cost basis, and (ii) the amortized cost basis cannot be recovered as a result of credit losses. During the three years ended December 31, 2018, the Company did not recognize any other-than-temporary impairment loss. Accrued Liabilities Accrued liabilities consisted of the following (in thousands):
|  | December 31, |
|  | 2018 |  |  | 2017 |
Preclinical and clinical trial accruals |  | $ | 35,413 |  |  | $ | 32,321 |
Payroll and related accruals |  |  | 21,430 |  |  |  | 18,810 |
Property taxes and other |  |  | 1,095 |  |  |  | 4,201 |
Professional services |  |  | 2,648 |  |  |  | 1,991 |
Other |  |  | 5,537 |  |  |  | 6,458 |
Total accrued liabilities |  | $ | 66,123 |  |  | $ | 63,781 |

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