Fair Value (Tables)

6 Months Ended

Jun. 30, 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 June 30, 2016 and December 31, 2015 (in thousands):



Balance as of June 30, 2016:
	Level 1		Level 2		Level 3		Total
Assets:
Cash and cash equivalents	$	75,637	$	24,694	$	—	$	100,331
Short-term investments:
Asset-backed securities	—		51,347		—		51,347
Corporate debt securities	—		80,834		—		80,834
Commercial paper	—		53,006		—		53,006
Government agency securities	—		29,256		—		29,256
Other securities	—		8,712		—		8,712
Total short-term investments	—		223,155		—		223,155
Foreign currency derivatives	—		1,359		—		1,359
Investments:
Asset-backed securities	—		17,227		—		17,227
Corporate debt securities	—		33,939		—		33,939
Other securities	—		4,018		—		4,018
Total investments	—		55,184		—		55,184
Total	$	75,637	$	304,392	$	—	$	380,029
Liabilities:
Foreign currency derivatives	$	—	$	1,391	$	—	$	1,391
Total	$	—	$	1,391	$	—	$	1,391



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 June 30, 2016 and December 31, 2015 were as follows (in thousands):



Balance as of June 30, 2016:
	Level 1		Level 2		Level 3		Total
Liabilities:
Convertible senior notes	$	—	$	295,406	$	—	$	295,406
Total	$	—	$	295,406	$	—	$	295,406



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