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Fair Value Measurements (Tables)
 3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table summarizes the financial assets and liabilities required to be measured at fair value on a recurring basis as of March 31, 2019 (in thousands):
 
Quoted Prices in
Active Markets
for Identical
Assets (Level 1)
 
Significant  Other
Observable
Inputs (Level 2)
 

Unobservable
Inputs (Level 3)
Assets:
 
 
 
 
 
Money market instruments
$
10,883

 
—

 
$
—

Treasury bills
—

 
295,106

 
—

Corporate bonds
—

 
289,873

 
—

Asset-backed securities
—

 
140,370

 
—

Sovereign bonds
—

 
21,791

 
—

Agency bonds
—

 
5,913

 
—

Municipal bonds
—

 
5,338

 
—

Economic hedge forward contracts
—

 
34

 
—

Liabilities:
 
 
 
 
 
Economic hedge forward contracts
—

 
31

 
—

Contingent consideration liabilities
—

 
—

 
1,569
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following table summarizes the activity for the Company's liabilities measured at fair value using Level 3 inputs for the three-month period ended March 31, 2019 (in thousands):
Balance as of December 31, 2018
$
2,554

Fair value adjustment to Chiaro contingent consideration
75

Fair value adjustment to GVi contingent consideration
(1,060
)
Balance as of March 31, 2019
$
1,569