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Marketable Securities
 12 Months Ended
Dec. 31, 2017
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
Marketable Securities
Marketable securities as of December 31, 2017 and 2016 consist of both debt securities of investment grade issuers as well as equity securities of publicly traded companies.
The following tables summarize the Company's investments in marketable securities:
 
 
Amortized
 
Unrealized
 
Fair
As of December 31, 2017
 
Cost Basis
 
Gains
 
Losses
 
Value
Corporate bonds
 
$
1,717,976

 
$
2,176

 
$
(7,672
)
 
$
1,712,480

U.S. government and government agency obligations
 
186,699

 
34

 
(1,241
)
 
185,492

Municipal bonds
 
4,600

 
—

 
(13
)
 
4,587

Commercial paper
 
106,973

 
—

 
—

 
106,973

Certificates of deposit
 
11,024

 
—

 
—

 
11,024

Equity securities
 
56,191

 
6,594

 
—

 
62,785

 
 
$
2,083,463

 
$
8,804

 
$
(8,926
)
 
$
2,083,341

As of December 31, 2016
 
 
 
 
 
 
 
 
Corporate bonds
 
$
1,076,964

 
$
630

 
$
(4,743
)
 
$
1,072,851

U.S. government and government agency obligations
 
132,923

 
58

 
(641
)
 
132,340

Municipal bonds
 
7,663

 
1

 
(20
)
 
7,644

Commercial paper
 
63,074

 
1

 
—

 
63,075

Certificates of deposit
 
42,612

 
—

 
—

 
42,612

Equity securities
 
57,251

 
5,551

 
(13,583
)
 
49,219

 
 
$
1,380,487

 
$
6,241

 
$
(18,987
)
 
$
1,367,741

The Company classifies its debt security investments based on their contractual maturity dates. The debt securities listed as of December 31, 2017 mature at various dates through October 2022. The fair values of debt security investments by contractual maturity consist of the following:
 
 
As of December 31,
 
 
2017
 
2016
Maturities within one year
 
$
593,783

 
$
503,481

Maturities after one year through five years
 
1,426,773

 
815,041

 
 
$
2,020,556

 
$
1,318,522

The following table shows the fair value of the Company's marketable securities that have unrealized losses and that are deemed to be only temporarily impaired, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position.
 
Less than 12 Months
 
12 Months or Greater
 
Total
As of December 31, 2017
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Corporate bonds
$
930,970

 
$
(4,924
)
 
$
256,750

 
$
(2,748
)
 
$
1,187,720

 
$
(7,672
)
U.S. government and government agency obligations
110,532

 
(409
)
 
67,921

 
(832
)
 
178,453

 
(1,241
)
Municipal bonds
2,582

 
(10
)
 
2,005

 
(3
)
 
4,587

 
(13
)
 
$
1,044,084

 
$
(5,343
)
 
$
326,676

 
$
(3,583
)
 
$
1,370,760

 
$
(8,926
)
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2016
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
759,222

 
$
(4,685
)
 
$
36,407

 
$
(58
)
 
$
795,629

 
$
(4,743
)
U.S. government and government agency obligations
81,170

 
(641
)
 
—

 
—

 
81,170

 
(641
)
Municipal bonds
7,141

 
(20
)
 
—

 
—

 
7,141

 
(20
)
Equity securities
36,417

 
(13,583
)
 
—

 
—

 
36,417

 
(13,583
)
 
$
883,950

 
$
(18,929
)
 
$
36,407

 
$
(58
)
 
$
920,357

 
$
(18,987
)

During the year ended December 31, 2016, the Company recorded an other-than-temporary impairment charge of $9.8 million related to its investment in an equity security. There were no other-than-temporary impairment charges recorded on the Company's investments during 2017 or 2015. During the year ended December 31, 2017, the Company recorded realized gains of $8.3 million and realized losses were not material. Realized gains and losses on sales of marketable securities were not material for the years ended December 31, 2016 and 2015.
With respect to marketable securities, for the years ended December 31, 2017, 2016, and 2015, amounts reclassified from accumulated other comprehensive income (loss) into other income (expense), net were related to the 2016 impairment charge on the equity security and realized gains and losses on sales described above.