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Financial Instruments and Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2016
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value on a Recurring Basis
The financial instruments measured at fair value on a recurring basis at December 31, 2016 were as follows:
 
Level 1
 
Level 2
 
Level 3
 
Total Fair Value
Cash equivalents:
 
 
 
 
 
 
 
Money market funds
$
86,236

 
$
—

 
$
—

 
$
86,236

Commercial paper
129,671

 
—

 
—

 
129,671

 
215,907

 
—

 
—
 
215,907

Investments:
 
 
 
 
 
 
 
Corporate debt securities
57,788

 
81,344

 
—

 
139,132

Preferred stock
19,177

 
17,416

 
—

 
36,593

 
76,965

 
98,760

 
—

 
175,725

Restricted investments:
 
 
 
 
 
 
 
Short-term bond
4,226

 
—

 
—

 
4,226

Money market fund
1,410

 
—

 
—

 
1,410

 
5,636

 
—

 
—

 
5,636

 
$
298,508


$
98,760


$
—


$
397,268

The financial instruments measured at fair value on a recurring basis at December 31, 2015 were as follows:
 
Level 1
 
Level 2
 
Level 3
 
Total Fair Value
Cash equivalents:
 
 
 
 
 
 
 
Money market funds
$
18,233

 
$
—

 
$
—

 
$
18,233

Commercial paper
174,973

 
—

 
—

 
174,973

 
193,206


—


—


193,206

Investments:
 
 
 
 
 
 
 
U.S. treasury securities
184,740

 
—

 
—

 
184,740

Corporate debt securities
—

 
6,292

 
—

 
6,292

Preferred stock
—

 
208

 
—

 
208

 
184,740

 
6,500

 
—

 
191,240

Restricted investments:
 
 
 
 
 
 
 
Guaranteed income fund
—

 
7,072

 
—

 
7,072

 
$
377,946

 
$
13,572

 
$
—

 
$
391,518

Carrying Amount and Fair Value of Financial Instruments
The carrying amount and fair value of the Company’s financial instruments were as follows:
 
December 31, 2016
 
December 31, 2015
 
Carrying 
value
 
Fair value
 
Level
 
Carrying 
value
 
Fair value
 
Level
Assets
 
 
 
 
 
 
 
 
 
 
 
Retained interest investments
$
10,635

 
$
13,669

 
3
 
$
10,246

 
$
13,333

 
3
Investments held by SPEs:
 
 
 
 
 
 
 
 
 
 
 
Time deposit
$
200,000

 
$
200,000

 
3
 
$
200,000

 
$
200,000

 
3
U.S. Treasury securities and cash equivalents
$
8,590

 
$
8,398

 
1
 
$
8,785

 
$
9,033

 
1
Liabilities
 
 
 
 
 
 
 
 
 
 
 
Senior Notes held by SPE
$
176,310

 
$
199,691

 
3
 
$
176,094

 
$
178,035

 
3