Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Assets and Liabilities Measured on Recurring Basis

The composition of our financial assets and liabilities among the three Levels of the fair value hierarchy are as follows (in thousands):

	December 31, 2016
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds⁽¹⁾	$	439,330	$	—	$	—	$	439,330
U.S. government and government agency debt securities⁽¹⁾		—		19,987		—		19,987
Corporate debt securities⁽¹⁾		—		269,768		—		269,768
Total	$	439,330	$	289,755	$	—	$	729,085
Liabilities
Contingent consideration	$	—	$	—	$	901	$	901

	December 31, 2015
	Level 1		Level 2		Level 3		Total
Assets:
Money market funds⁽¹⁾	$	362,587	$	—	$	—	$	362,587
U.S. government and government agency debt securities⁽¹⁾		—		184,975		—		184,975
Corporate debt securities⁽¹⁾		—		277,193		—		277,193
Total	$	362,587	$	462,168	$	—	$	824,755
Liabilities
Contingent consideration	$	—	$	—	$	18,490	$	18,490

⁽¹⁾	Includes amounts classified as cash and cash equivalents.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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