XML 33 R12.htm IDEA: XBRL DOCUMENT v3.10.0.1
Fair Value Measurements
12 Months Ended
Dec. 31, 2018
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements

The following table presents our fair value hierarchy for our assets measured at fair value on a recurring basis as of December 31, 2018 (in thousands): 
 
Level 1
 
Level 2
 
Total
Cash equivalents:
 
 
 
 
 
Money market funds
$
229,047

 
$

 
$
229,047

Commercial paper

 
16,961

 
16,961

Certificates of deposit

 
2,465

 
2,465

Short-term investments:
 
 
 
 
 
Commercial paper

 
108,061

 
108,061

Corporate notes and bonds

 
679,542

 
679,542

Certificates of deposit

 
56,596

 
56,596

U.S. government and agency securities

 
87,519

 
87,519

Long-term investments:
 
 
 
 
 
Corporate notes and bonds

 
550,172

 
550,172

Certificates of deposit

 
16,989

 
16,989

U.S. government and agency securities

 
14,695

 
14,695

Total
$
229,047

 
$
1,533,000

 
$
1,762,047


 
The following table presents our fair value hierarchy for our assets measured at fair value on a recurring basis as of December 31, 2017 (in thousands): 

 
Level 1
 
Level 2
 
Total
Cash equivalents:
 
 
 
 
 
Money market funds
$
282,507

 
$

 
$
282,507

Commercial paper

 
100,456

 
100,456

Corporate notes and bonds

 
50,437

 
50,437

Short-term investments:
 
 
 
 
 
Commercial paper

 
258,344

 
258,344

Corporate notes and bonds

 
688,316

 
688,316

Certificates of deposit

 
17,950

 
17,950

U.S. government and agency securities

 
67,476

 
67,476

Marketable equity securities
20,717

 

 
20,717

Long-term investments:
 
 
 
 
 
Corporate notes and bonds

 
314,928

 
314,928

Certificates of deposit

 
15,134

 
15,134

U.S. government and agency securities

 
61,380

 
61,380

Total
$
303,224

 
$
1,574,421

 
$
1,877,645



We determine the fair value of our security holdings based on pricing from our service provider and market prices from industry-standard independent data providers. Such market prices may be quoted prices in active markets for identical assets (Level 1 inputs) or pricing determined using inputs other than quoted prices that are observable either directly or indirectly (Level 2 inputs), such as yield curve, volatility factors, credit spreads, default rates, loss severity, current market and contractual prices for the underlying instruments or debt, broker and dealer quotes, as well as other relevant economic measures.

See Note 3 for the fair value measurement of our debt investments in privately-held companies, Note 8 for the fair value measurement of our derivative contracts and Note 11 for the fair value measurement of our convertible senior notes, which are not included in the table above.