Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2016

Fair Value Measurements

Schedule of assets measured at fair value on a recurring basis

As of December 31, 2016, 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, 2016
	Total		Level 1		Level 2		Level 3
Marketable Securities
Bonds and bond funds	$	409,885	$	—	$	409,885	$	—
Commercial paper		13		—		13		—
Asset backed securities	$	409,898	$	—	$	409,898	$	—
Cash, Cash Equivalents and Restricted Cash		155,009		155,009		—		—
Total Assets Measured at Fair Value	$	564,907	$	155,009	$	409,898	$	—

	Fair Value Measurements as of December 31, 2015
	Total		Level 1		Level 2		Level 3
Marketable Securities
Bonds and bond funds	$	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		—		—
Auction Rate Securities(a)		2,321		—		—		2,321
Total Assets Measured at Fair Value	$	500,240	$	211,251	$	286,668	$	2,321

(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, 2016 (in thousands):

Fair Value Measurements Using Significant Unobservable Inputs

(Level 3)

	Auction Rate
	Securities
Balance at January 1, 2016	$	2,321
Total realized and unrealized gains or (losses)
Included in earnings		161
Included in other comprehensive income		18
Transferred out		—
Settlements		(2,500)
Balance at December 31, 2016	$	—