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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2017
Fair Value Disclosures [Abstract]  
Schedule of Assets and Liabilities Measured at Fair Value
The following table represents the fair value of the Company’s financial instruments, including those measured at fair value on a recurring basis and those held-to-maturity as of December 31, 2017 and 2016 (in thousands):
 
December 31, 2017
 
December 31, 2016
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
Cash Equivalents:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
$
217,838

 
$

 
$

 
$
217,838

 
$
152,423

 
$

 
$

 
$
152,423

Commercial paper

 
46,927

 

 
46,927

 

 

 

 

Marketable Securities:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Commercial paper

 
138,412

 

 
138,412

 

 
45,894

 

 
45,894

Agency bonds

 
78,913

 

 
78,913

 

 
152,394

 

 
152,394

Corporate bonds

 
69,926

 

 
69,926

 

 
9,006

 

 
9,006

Agency discount notes

 
10,989

 

 
10,989

 

 

 

 

Total cash equivalents and marketable securities
$
217,838

 
$
345,167

 
$

 
$
563,005

 
$
152,423

 
$
207,294

 
$

 
$
359,717