Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value Measurements

Schedule of assets measured at fair value on a recurring basis

As of December 31, 2015, the Company held certain assets that are required to be measured at fair value on a recurring basis. Assets measured at fair value on a recurring basis are summarized below (in thousands):

	Fair Value Measurements as of December 31, 2015
	Total			Level 1		Level 2		Level 3
Marketable Securities
Bonds	$	286,637		$	—	$	286,637	$	—
Commercial paper		31			—		31		—
Asset backed securities	$	286,668		$	—	$	286,668	$	—
Cash, Cash Equivalents and Restricted Cash		211,251			211,251		—		—
Other Assets(a)		2,321	(a)		—		—		2,321
Total Assets Measured at Fair Value	$	500,240		$	211,251	$	286,668	$	2,321

	Fair Value Measurements as of December 31, 2014
	Total		Level 1		Level 2		Level 3
Marketable Securities
Bonds	$	410,163	$	—	$	410,163	$	—
Commercial paper		5,110		—		5,110		—
Asset backed securities		415,273		—		415,273		—
Cash, Cash Equivalents and Restricted Cash		143,857		143,857		—		—
Other Assets(a)		2,309		—		—		2,309
Total Assets Measured at Fair Value	$	561,439	$	143,857	$	415,273	$	2,309

(a) Auction rate securities included in long-term “Other assets” in the Consolidated Balance Sheet

Schedule of fair value measurements using significant unobservable inputs

The following table presents the Company’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) at December 31, 2015 (in thousands):

Fair Value Measurements Using Significant Unobservable Inputs

(Level 3)

	Auction Rate
	Securities
Balance at January 1, 2015	$	2,309
Total realized and unrealized gains or (losses)
Included in earnings		—
Included in other comprehensive income		12
Transferred out		—
Settlements		—
Balance at December 31, 2015	$	2,321