Financial Instruments (Tables)

9 Months Ended

Sep. 30, 2017

Investments, Debt and Equity Securities [Abstract]

Schedule of available for sale securities including fair value and gross unrealized losses

The following table classifies marketable securities by contractual maturities (in thousands):

	September 30, 2017		December 31, 2016
Due in one year	$	364,734	$	355,152
Due in one to two years	13,814		49,541
Total	$	378,548	$	404,693

The following table sets forth cash, cash equivalents and marketable securities as of September 30, 2017 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash and Cash Equivalents		Marketable Securities
Cash	$	102,841	$	—	$	—		$	102,841	$	102,841	$	—
Money market funds	129,790		—		—			129,790		129,790		—
U.S. government agencies	50,703		4		—			50,707		25,795		24,912
Corporate debt securities	375,959		50		(118		)	375,891		22,255		353,636
Total	$	659,293	$	54	$	(118	)	$	659,229	$	280,681	$	378,548

The following table sets forth cash, cash equivalents and marketable securities as of December 31, 2016 (in thousands):

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value		Cash and Cash Equivalents		Marketable Securities
Cash	$	179,076	$	—	$	—		$	179,076	$	179,076	$	—
Money market funds	50,125		—		—			50,125		50,125		—
U.S. government agencies	86,533		8		(15		)	86,526		—		86,526
Corporate debt securities	390,466		24		(204		)	390,286		72,119		318,167
Total	$	706,200	$	32	$	(219	)	$	706,013	$	301,320	$	404,693

Schedule of derivative instruments in statement of financial position, fair value

The following table presents the fair value of the Company’s foreign currency derivative contracts as of the periods presented (in thousands):

		September 30, 2017				December 31, 2016
	Balance Sheet Location	Fair Value Derivative Assets		Fair Value Derivative Liabilities		Fair Value Derivative Assets		Fair Value Derivative Liabilities
Cash flow designated hedges	Prepaid expenses and other current assets	$	—	$	—	$	813	$	—
Cash flow designated hedges	Accrued liabilities	—		11,826		—		1,428
Hedges not designated	Prepaid expenses and other current assets	1,307		—		9,812		—
Hedges not designated	Accrued liabilities	—		—		—		2,352
Total fair value of derivative instruments		$	1,307	$	11,826	$	10,625	$	3,780

Schedule of cash flow hedging instruments, statement of operations

The following table presents the pre-tax impact of the Company’s foreign currency derivative contracts on other comprehensive income (“OCI”) and the condensed consolidated statements of operations for the periods presented (in thousands):

		Three Months Ended						Nine Months Ended
	Income Statement Location	September 30, 2017			October 1, 2016			September 30, 2017			October 1, 2016
Foreign exchange cash flow hedges:
Gain (loss) recognized in OCI – effective portion		$	(6,603	)	$	(560	)	$	(20,590	)	$	975
Gain (loss) reclassified from OCI into income – effective portion	Revenue	(6,617		)	3,060			(6,897		)	1,511
Gain (loss) reclassified from OCI into income – effective portion	Operating expenses	—			(65		)	(1,405		)	2,343
Gain (loss) recognized in income – ineffective portion	Other income (expense), net	—			76			21			(109		)
Gain recognized in income – excluded time value portion	Other income (expense), net	672			—			1,516			—
Foreign exchange balance sheet hedges:
Gain (loss) recognized in income	Other income (expense), net	(2,062		)	(477		)	(8,838		)	3,567

Schedule of cash flow hedging instruments, comprehensive income

The following table presents the pre-tax impact of the Company’s foreign currency derivative contracts on other comprehensive income (“OCI”) and the condensed consolidated statements of operations for the periods presented (in thousands):

		Three Months Ended						Nine Months Ended
	Income Statement Location	September 30, 2017			October 1, 2016			September 30, 2017			October 1, 2016
Foreign exchange cash flow hedges:
Gain (loss) recognized in OCI – effective portion		$	(6,603	)	$	(560	)	$	(20,590	)	$	975
Gain (loss) reclassified from OCI into income – effective portion	Revenue	(6,617		)	3,060			(6,897		)	1,511
Gain (loss) reclassified from OCI into income – effective portion	Operating expenses	—			(65		)	(1,405		)	2,343
Gain (loss) recognized in income – ineffective portion	Other income (expense), net	—			76			21			(109		)
Gain recognized in income – excluded time value portion	Other income (expense), net	672			—			1,516			—
Foreign exchange balance sheet hedges:
Gain (loss) recognized in income	Other income (expense), net	(2,062		)	(477		)	(8,838		)	3,567

Schedule of offsetting of foreign currency derivative contracts

The following tables set forth the available offsetting of net derivative assets under the master netting arrangements as of September 30, 2017 and December 31, 2016 (in thousands):

	Gross Amounts Offset in the Condensed Consolidated Balance Sheets						Gross Amounts Not Offset in Condensed Consolidated Balance Sheets
September 30, 2017	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral Received		Net Amount
Foreign exchange contracts assets	$	1,307	$	—	$	1,307	$	1,307	$	—	$	—
Foreign exchange contracts liabilities	11,826		—		11,826		1,307		—		10,519
	Gross Amounts Offset in the Condensed Consolidated Balance Sheets						Gross Amounts Not Offset in Condensed Consolidated Balance Sheets
December 31, 2016	Gross Amounts Recognized		Gross Amounts Offset		Net Amounts Presented		Financial Instruments		Cash Collateral Received		Net Amount
Foreign exchange contracts assets	$	10,625	$	—	$	10,625	$	3,780	$	—	$	6,845
Foreign exchange contracts liabilities	3,780		—		3,780		3,780		—		—