Fair Value of Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2019

Fair Value Disclosures [Abstract]

Schedule of Cash and Cash Equivalents, Available-for-sale Securities Reconciliation

The Company's cash and cash equivalents, and marketable securities consist of the following:

	September 30, 2019
	Amortized Cost		Unrealized Gains		Unrealized (Losses)			Fair Value
	(in thousands)
Cash and cash equivalents:
Cash	$	66,453	$	—	$	—		$	66,453
Money market funds	249		—		—			249
Commercial paper	8,913		—		—			8,913
Total	75,615		—		—			75,615
Short-term marketable securities:
Commercial paper	3,386		—		—			3,386
Corporate bonds	30,038		70		(9		)	30,099
Asset-backed securities	1,051		1		—			1,052
U.S. government agencies	187,654		235		(5		)	187,884
Total	222,129		306		(14		)	222,421
Long-term marketable securities:
Asset-backed securities	39,831		252		—			40,083
U.S. government agencies	27,874		382		—			28,256
Corporate bonds	32,376		242		(6		)	32,612
Total	100,081		876		(6		)	100,951
Total	$	397,825	$	1,182	$	(20	)	$	398,987

	December 31, 2018
	Amortized Cost		Unrealized Gains		Unrealized (Losses)			Fair Value
	(in thousands)
Cash and cash equivalents:
Cash	$	40,913	$	—	$	—		$	40,913
Money market funds	113		—		—			113
Total	41,026		—		—			41,026
Short-term marketable securities:
Commercial paper	3,237		—		—			3,237
Corporate bonds	30,906		—		(84		)	30,822
Asset-backed securities	10,447		—		(15		)	10,432
U.S. government agencies	203,734		9		(94		)	203,649
Total	248,324		9		(193		)	248,140
Long-term marketable securities:
Asset-backed securities	22,945		10		(28		)	22,927
U.S. government agencies	18,804		—		(53		)	18,751
Corporate bonds	35,322		3		(293		)	35,032
Total	77,071		13		(374		)	76,710
Total	$	366,421	$	22	$	(567	)	$	365,876

Schedule of changes to accumulated other comprehensive income

The following table shows the changes to AOCI related to available-for-sale marketable securities for the nine months ended September 30, 2019 (in thousands):

	Unrealized Gain (Loss), net
AOCI for available-for sale marketable securities balance at December 31, 2018	$	(545	)
Change in net unrealized gain, net of tax	1,419
Amounts reclassified for net realized gain included in net income	25
Total change in unrealized gain (loss), net of tax	1,444
AOCI for available-for sale marketable securities balance at September 30, 2019	$	899

Schedule of Assets Measured on Recurring Basis

The following table sets forth by level within the fair value hierarchy, the fair value of the Company's available-for-sale marketable securities measured on a recurring basis, excluding cash and money market funds:

	September 30, 2019
	Level 1		Level 2		Level 3		Fair Value
	(in thousands)
Commercial paper	$	—	$	12,299	$	—	$	12,299
U.S. government agencies	—		216,140		—		216,140
Corporate bonds	—		62,711		—		62,711
Asset-backed securities	—		41,135		—		41,135
Total	$	—	$	332,285	$	—	$	332,285

	December 31, 2018
	Level 1		Level 2		Level 3		Fair Value
	(in thousands)
Commercial paper	$	—	$	3,237	$	—	$	3,237
U.S. government agencies	—		222,400		—		222,400
Corporate bonds	—		65,854		—		65,854
Asset-backed securities	—		33,359		—		33,359
Total	$	—	$	324,850	$	—	$	324,850

Schedule of Available-for-Sale Securities by Contractual Maturity

The following summarizes the fair value of marketable securities classified as available-for-sale by contractual, or effective, maturity:

	September 30, 2019
	Mature within One Year		Mature after One Year through Two Years		Mature over Two Years		Fair Value
	(in thousands)
Commercial paper	$	12,299	$	—	$	—	$	12,299
U.S. government agencies	187,883		13,527		14,730		216,140
Corporate bonds	30,100		21,330		11,281		62,711
Asset-backed securities	1,052		14,824		25,259		41,135
Total	$	231,334	$	49,681	$	51,270	$	332,285

Summary of Gains (Losses) Recognized From Forward Contracts and Other Foreign Currency Transactions

The following summarizes the gains (losses) recognized in other income (expense), net on the condensed consolidated statement of operations, from forward contracts and other foreign currency transactions:

	Three Months Ended						Nine Months Ended
	September 30,						September 30,
	2019			2018			2019			2018
	(in thousands)
Net gain (loss) from non-designated forward contracts	$	642		$	(61	)	$	720		$	253
Other foreign currency transactions gain (loss)	(906		)	(378		)	(851		)	(927		)
Total foreign exchange gain (loss), net	$	(264	)	$	(439	)	$	(131	)	$	(674	)