Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The Company’s assets and liabilities that are measured at fair value on a recurring basis, by level, within the fair value hierarchy as of December 31, 2015 and 2014, are summarized as follows (in thousands):



	Level 1		Level 2		Level 3		Total
December 31, 2015:
Assets:
Cash equivalents:
Money market funds	$	276,898	$	—	$	—	$	276,898
Commercial paper	—		12,049		—		12,049
US treasury securities	25,000		—		—		25,000
US agency securities	—		51,500		—		51,500
Marketable securities:
Commercial paper	—		55,374		—		55,374
US treasury securities	874,029		—		—		874,029
US agency securities	—		606,202		—		606,202
Corporate debt securities	—		1,026,898		—		1,026,898
Municipal securities	—		10,642		—		10,642
Other current assets:
Foreign currency derivative contracts	—		14,508		—		14,508
Total assets	$	1,175,927	$	1,777,173	$	—	$	2,953,100
Liabilities:
Accrued liabilities:
Foreign currency derivative contracts	$	—	$	1,847	$	—	$	1,847
Other long-term liabilities:
Other derivative	—		—		11,600		11,600
Total liabilities	$	—	$	1,847	$	11,600	$	13,447
December 31, 2014:
Assets:
Cash equivalents:
Money market funds	$	95,470	$	—	$	—	$	95,470
Commercial paper	—		54,344		—		54,344
US treasury securities	54,349		—		—		54,349
US agency securities	—		43,000		—		43,000
Marketable securities:
Commercial paper	—		122,371		—		122,371
Certificates of deposit	—		5,927		—		5,927
US treasury securities	1,234,568		—		—		1,234,568
US agency securities	—		881,962		—		881,962
Corporate debt securities	—		722,705		—		722,705
Municipal securities	—		14,889		—		14,889
Other current assets:
Foreign currency derivative contracts	—		5,591		—		5,591
Total assets	$	1,384,387	$	1,850,789	$	—	$	3,235,176
Liabilities:
Accrued liabilities:
Foreign currency derivative contracts	$	—	$	149	$	—	$	149
Total liabilities	$	—	$	149	$	—	$	149

Schedule of reconciliation of Level 3 instruments

The following is a reconciliation of the Company's Level 3 other derivative financial instrument for the periods presented (in thousands):



Level 3 other derivative financial instrument—December 31, 2014	$	—
Cumulative-effect of adopting new authoritative guidance on derivatives and hedges	2,800
Fair value adjustments ⁽¹⁾	8,800
Level 3 other derivative financial instrument—December 31, 2015	$	11,600

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(1)	Changes in the fair value are recorded in Other (income) expense, net in the consolidated statements of operations.