Fair Value (Tables)

3 Months Ended

Mar. 31, 2016

Summary of assets and liabilities measured at fair value on recurring basis

The following table summarizes the fair value hierarchy for the Company’s financial assets (cash, cash equivalents, short-term investments, non-current investments, and foreign currency derivatives) and financial liabilities (foreign currency derivatives) measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 (in thousands):



Balance as of March 31, 2016:
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	53,431	$	36,389	$	—	$	89,820
Short-term investments:
Asset-backed securities	—		53,613		—		53,613
Corporate debt securities	—		77,686		—		77,686
Commercial paper	—		42,354		—		42,354
Government agency securities	—		17,206		—		17,206
Other securities	—		11,633		—		11,633
Total short-term investments	—		202,492		—		202,492
Foreign currency derivatives	—		1,531		—		1,531
Investments:
Asset-backed securities	—		11,917		—		11,917
Corporate debt securities	—		35,436		—		35,436
Government agency securities	—		12,000		—		12,000
Other securities	—		4,008		—		4,008
Total investments	—		63,361		—		63,361
Total	$	53,431	$	303,773	$	—	$	357,204
Liabilities:
Foreign currency derivatives	$	—	$	1,316	$	—	$	1,316
Total	$	—	$	1,316	$	—	$	1,316



Balance as of December 31, 2015:
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	84,625	$	27,943	$	—	$	112,568
Short-term investments:
Asset-backed securities	—		51,973		—		51,973
Corporate debt securities	—		81,600		—		81,600
Commercial paper	—		48,762		—		48,762
Government agency securities	—		12,684		—		12,684
Other securities	—		15,128		—		15,128
Total short-term investments	—		210,147		—		210,147
Foreign currency derivatives	—		1,431		—		1,431
Investments:
Asset-backed securities	—		11,818		—		11,818
Corporate debt securities	—		36,414		—		36,414
Government agency securities	—		11,944		—		11,944
Other securities	—		1,999		—		1,999
Total investments	—		62,175		—		62,175
Total	$	84,625	$	301,696	$	—	$	386,321
Liabilities:
Foreign currency derivatives	$	—	$	1,298	$	—	$	1,298
Total	$	—	$	1,298	$	—	$	1,298

Schedule of other financial instruments measured at fair value on non-recurring basis

The estimated fair values of the Company’s other financial instruments which are not measured at fair value on a recurring basis as of March 31, 2016 and December 31, 2015 were as follows (in thousands):



Balance as of March 31, 2016:
	Level 1		Level 2		Level 3		Total
Liabilities:
Convertible senior notes	$	—	$	312,570	$	—	$	312,570
Total	$	—	$	312,570	$	—	$	312,570



Balance as of December 31, 2015:
	Level 1		Level 2		Level 3		Total
Liabilities:
Convertible senior notes	$	—	$	307,481	$	—	$	307,481
Total	$	—	$	307,481	$	—	$	307,481