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Cash, Cash Equivalents, and Investments (Tables)
 12 Months Ended
Dec. 31, 2016
Cash and Cash Equivalents [Abstract]  
Components of Cash, Cash Equivalents and Investments
Cash, cash equivalents, and investments consisted of the following (in thousands):
 
December 31,
 
2016
 
2015
Cash
$
77,307

 
$
45,951

Money market instruments
2,334

 
6,024

Cash and cash equivalents
79,641

 
51,975

Corporate bonds
141,188

 
54,376

Asset-backed securities
69,614

 
61,994

Treasury bills
67,175

 
109,360

Euro liquidity fund
46,499

 
47,730

Sovereign bonds
7,298

 
21,440

Municipal bonds
6,517

 
590

Agency bonds
2,903

 
978

Short-term investments
341,194

 
296,468

Corporate bonds
169,952

 
176,575

Treasury bills
92,280

 
44,437

Asset-backed securities
26,946

 
24,582

Sovereign bonds
23,585

 
13,503

Agency bonds
10,339

 
8,180

Municipal bonds
1,233

 
4,869

Limited partnership interest (accounted for using cost method)
—

 
942

Long-term investments
324,335

 
273,088

 
$
745,170

 
$
621,531
Summary of Available-for-Sale Investments
The following table summarizes the Company’s available-for-sale investments as of December 31, 2016 (in thousands):
 
Amortized
Cost
 
Gross
Unrealized
Gains
 
Gross
Unrealized
Losses
 
Fair Value
Short-term:
 
 
 
 
 
 
 
Corporate bonds
$
141,216

 
$
37

 
$
(65
)
 
$
141,188

Asset-backed securities
69,623

 
18

 
(27
)
 
69,614

Treasury bills
67,201

 
21

 
(47
)
 
67,175

Euro liquidity fund
46,173

 
326

 
—

 
46,499

Sovereign bonds
7,313

 
—

 
(15
)
 
7,298

Municipal bonds
6,517

 
2

 
(2
)
 
6,517

Agency bonds
2,900

 
3

 
—

 
2,903

Long-term:
 
 
 
 
 
 


Corporate bonds
169,911

 
406

 
(365
)
 
169,952

Treasury bills
92,392

 
40

 
(152
)
 
92,280

Asset-backed securities
26,968

 
25

 
(47
)
 
26,946

Sovereign bonds
23,704

 
6

 
(125
)
 
23,585

Agency bonds
10,310

 
29

 
—

 
10,339

Municipal bonds
1,236

 
—

 
(3
)
 
1,233

 
$
665,464

 
$
913

 
$
(848
)
 
$
665,529
Gross Unrealized Losses and Fair Value for Available-for-Sale Investments
The following table summarizes the Company’s gross unrealized losses and fair values for available-for-sale investments in an unrealized loss position as of December 31, 2016 (in thousands):
 
Unrealized Loss
Position For Less than
12 Months
 
Unrealized Loss
Position For Greater than
12 Months
 
Total
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
 
Fair Value
 
Unrealized
Losses
Corporate bonds
$
117,853

 
$
(400
)
 
$
14,931

 
$
(30
)
 
$
132,784

 
$
(430
)
Treasury bills
99,358

 
(199
)
 
—

 
—

 
99,358

 
(199
)
Asset-backed securities
45,429

 
(70
)
 
5,998

 
(4
)
 
51,427

 
(74
)
Sovereign bonds
27,687

 
(140
)
 
—

 
—

 
27,687

 
(140
)
Municipal bonds
4,028

 
(5
)
 
—

 
—

 
4,028

 
(5
)
 
$
294,355

 
$
(814
)
 
$
20,929

 
$
(34
)
 
$
315,284

 
$
(848
)
Effective Maturity Dates of Available-for-Sale Investments
The following table summarizes the effective maturity dates of the Company’s available-for-sale investments as of December 31, 2016 (in thousands):
 
<1 Year
 
1-2 Years
 
2-3 Years
 
3-4 Years
 
4-5 Years
 
 
Total
Corporate bonds
$
141,188

 
$
84,007

 
$
77,975

 
$
2,211

 
$
5,759

 
 
$
311,140

Treasury bills
67,175

 
92,280

 
—

 
—

 
—

 
 
159,455

Asset-backed securities
69,614

 
8,957

 
7,372

 
10,530

 
87

 
 
96,560

Euro liquidity fund
46,499

 
—

 
—

 
—

 
—

 
 
46,499

Sovereign bonds
7,298

 
19,007

 
4,578

 
—

 
—

 
 
30,883

Agency bonds
2,903

 
7,614

 
2,725

 
—

 
—

 
 
13,242

Municipal bonds
6,517

 
1,233

 
—

 
—

 
—

 
 
7,750

 
$
341,194

 
$
213,098

 
$
92,650

 
$
12,741

 
$
5,846

 
 
$
665,529