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FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)
3 Months Ended
Mar. 31, 2018
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value
The following table represents the Company’s financial instruments measured at fair value as of March 31, 2018 and December 31, 2017 (in thousands):
 
March 31, 2018
 
December 31, 2017
 
Level 1
 
Level 2
 
Level 3
 
Total
 
Level 1
 
Level 2
 
Level 3
 
Total
Cash Equivalents:
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
$
218,054

 
$
—

 
$
—

 
$
218,054

 
$
217,838

 
$
—

 
$
—

 
$
217,838

Commercial paper
—

 
9,985

 
—

 
9,985

 
—

 
46,927

 
—

 
46,927

Marketable Securities:

 

 

 

 


 


 


 


Commercial paper
—

 
227,619

 
—

 
227,619

 
—

 
138,412

 
—

 
138,412

Corporate bonds
—

 
89,672

 
—

 
89,672

 
—

 
69,926

 
—

 
69,926

Agency bonds
—

 
80,861

 
—

 
80,861

 
—

 
78,913

 
—

 
78,913

U.S. government bonds
—

 
38,609

 
—

 
38,609

 
—

 
—

 
—

 
—

Agency discount notes
—

 
—

 
—

 
—

 
—

 
10,989

 
—

 
10,989

Total cash equivalents and marketable securities
$
218,054

 
$
446,746

 
$
—

 
$
664,800

 
$
217,838

 
$
345,167

 
$
—

 
$
563,005