Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Financial assets and liabilities measured at fair value on a recurring basis

The tables below present the Company’s financial assets and liabilities measured at fair value on a recurring basis:

	Fair Value Measurements as of March 31, 2020
	Total		Level 1		Level 2		Level 3
	(in thousands)
Cash equivalents	$	244,469	$	238,478	$	5,991	$	—
Short-term investments
Corporate debt securities	99,686		—		99,686		—
U.S. government and agency securities	69,853		—		69,853		—
Other fixed income securities	44,435		—		44,435		—
Total short-term investments	213,974		—		213,974		—
Fuel derivative contracts	520		—		520		—
Foreign currency derivatives	5,632		—		5,632		—
Total assets measured at fair value	$	464,595	$	238,478	$	226,117	$	—
Foreign currency derivatives	587		—		587		—
Total liabilities measured at fair value	$	587	$	—	$	587	$	—

	Fair Value Measurements as of December 31, 2019
	Total		Level 1		Level 2		Level 3
	(in thousands)
Cash equivalents	$	216,491	$	205,943	$	10,548	$	—
Short-term investments
Corporate debt securities	100,713		—		100,713		—
U.S. government and agency securities	75,481		—		75,481		—
Other fixed income securities	69,405		—		69,405		—
Total short-term investments	245,599		—		245,599		—
Fuel derivative contracts	5,878		—		5,878		—
Foreign currency derivatives	4,424		—		4,424		—
Total assets measured at fair value	$	472,392	$	205,943	$	266,449	$	—
Foreign currency derivatives	593		—		593		—
Total liabilities measured at fair value	$	593	$	—	$	593	$	—

Schedule of debt (excluding obligations under capital leases) measured at fair value

The table below presents the Company’s debt measured at fair value: 

Fair Value of Debt
March 31, 2020										December 31, 2019
Carrying		Fair Value								Carrying		Fair Value
Amount		Total		Level 1		Level 2		Level 3		Amount		Total		Level 1		Level 2		Level 3
(in thousands)
$	826,335	$	776,800	$	—	$	—	$	776,800	$	610,397	$	605,286	$	—	$	—	$	605,286