Fair Value Measurements

3 Months Ended

Mar. 31, 2016

The Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2016 were as follows (in thousands):



	Fair value at March 31, 2016		Fair value measurement using
	Fair value at March 31, 2016		Level 1		Level 2
Assets:
Cash	$	396,449	$	396,449	$	—
Money market and deposit accounts	234,119		234,119		—
Publicly traded equity securities	3,766		3,766		—
Certificates of deposit	15,747		—		15,747
Derivative instruments ⁽¹⁾	23,010		—		23,010
	$	673,091	$	634,334	$	38,757
Liabilities:
Derivative instruments ⁽¹⁾	$	19,442	$	—	$	19,442
	$	19,442	$	—	$	19,442


⁽¹⁾	Includes both foreign currency embedded derivatives and foreign currency forward and option contracts. Amounts are included within other current assets, other assets, others current liabilities and other liabilities in the Company’s accompanying condensed consolidated balance sheet.

The Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 were as follows (in thousands):



	Fair value at December 31, 2015		Fair value measurement using
	Fair value at December 31, 2015		Level 1		Level 2
Assets:
Cash	$	1,139,554	$	1,139,554	$	—
Money market and deposit accounts	1,089,284		1,089,284		—
Publicly traded equity securities	3,353		3,353		—
Certificates of deposit	14,106		—		14,106
Derivative instruments ⁽¹⁾	68,900		—		68,900
	$	2,315,197	$	2,232,191	$	83,006
Liabilities:
Derivative instruments ⁽¹⁾	$	79,925	$	—	$	79,925
	$	79,925	$	—	$	79,925


⁽¹⁾	Includes both foreign currency embedded derivatives and foreign currency forward and option contracts. Amounts are included within other current assets, other assets, other current liabilities and other liabilities in the Company’s accompanying condensed consolidated balance sheet.

The Company did not have any significant Level 3 financial assets or financial liabilities as of March 31, 2016 and December 31, 2015.