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Investments (Tables)
 9 Months Ended
Sep. 30, 2019
Investments [Abstract]  
Contract Maturity of Available-for-Sale Securities

The following table summarizes the contract maturity of the available-for-sale securities we held as of September 30, 2019:

One year or less
    
69
%
After one year but within two years
    
22
%
After two years but within three years
    
9
%
Total
    
100
%
Summary of Investments The following is a summary of our investments (in thousands):


       
Gross Unrealized
    
Estimated
  
September 30, 2019
  
Cost (1)
    
Gains
    
Losses
    
Fair Value
  
Available-for-sale securities:
                        
Corporate debt securities (2)
  
$
752,495
    
$
1,484
    
$
(148
)
  
$
753,831
  
Debt securities issued by U.S. government agencies
    
176,589
      
321
      
(45
)
    
176,865
  
Debt securities issued by the U.S. Treasury (2)
    
331,371
      
264
      
(17
)
    
331,618
  
Debt securities issued by states of the U.S. and political subdivisions of the states
    
33,986
      
4
      
(27
)
    
33,963
  
Other municipal debt securities
    
2,948
      
—
      
—
      
2,948
  
Total securities with a maturity of one year or less
    
1,297,389
      
2,073
      
(237
)
    
1,299,225
  
Corporate debt securities
    
539,820
      
3,108
      
(161
)
    
542,767
  
Debt securities issued by U.S. government agencies
    
106,536
      
101
      
(137
)
    
106,500
  
Debt securities issued by the U.S. Treasury
    
34,692
      
—
      
(38
)
    
34,654
  
Debt securities issued by states of the U.S. and political subdivisions of the states
    
9,283
      
25
      
(6
)
    
9,302
  
Total securities with a maturity of more than one year
    
690,331
      
3,234
      
(342
)
    
693,223
  
Total available-for-sale securities
  
$
1,987,720
    
$
5,307
    
$
(579
)
  
$
1,992,448
  
Equity securities:
                                
Total equity securities included in other current assets (3)
  
$
1,212
    
$
—
    
$
(606
)
  
$
606
  
Total available-for-sale and equity securities
  
$
1,988,932
    
$
5,307
    
$
(1,185
)
  
$
1,993,054
  


       
Gross Unrealized
    
Estimated
  
December 31, 2018
  
Cost (1)
    
Gains
    
Losses
    
Fair Value
  
Available-for-sale securities:
                        
Corporate debt securities
  
$
956,879
    
$
13
    
$
(1,858
)
  
$
955,034
  
Debt securities issued by U.S. government agencies
    
168,839
      
3
      
(104
)
    
168,738
  
Debt securities issued by the U.S. Treasury
    
244,640
      
15
      
(77
)
    
244,578
  
Debt securities issued by states of the U.S. and political subdivisions of the states (2)
    
63,572
      
—
      
(323
)
    
63,249
  
Total securities with a maturity of one year or less
    
1,433,930
      
31
      
(2,362
)
    
1,431,599
  
Corporate debt securities
    
299,018
      
194
      
(1,286
)
    
297,926
  
Debt securities issued by U.S. government agencies
    
107,789
      
194
      
(109
)
    
107,874
  
Debt securities issued by the U.S. Treasury
    
15,600
      
—
      
(24
)
    
15,576
  
Debt securities issued by states of the U.S. and political subdivisions of the states
    
16,980
      
—
      
(287
)
    
16,693
  
Total securities with a maturity of more than one year
    
439,387
      
388
      
(1,706
)
    
438,069
  
Total available-for-sale securities
  
$
1,873,317
    
$
419
    
$
(4,068
)
  
$
1,869,668
  
Equity securities:
                                
Total equity securities included in other current assets (3)
    
1,212
      
137
      
—
      
1,349
  
Total available-for-sale and equity securities
  
$
1,874,529
    
$
556
    
$
(4,068
)
  
$
1,871,017
  

(1)
Our available-for-sale securities are held at amortized cost.


(2)
Includes investments classified as cash equivalents on our condensed consolidated balance sheet.


(3)
We recognize our equity securities at cost minus impairments, plus or minus changes resulting from observable price changes in orderly transactions for the identical or similar investment of the same issuer on our condensed consolidated balance sheet.
Temporarily Impaired Investments

The following is a summary of our investments we consider to be temporarily impaired at September 30, 2019. We believe that the decline in value of these securities is temporary and is primarily related to the change in market interest rates since purchase. We believe it is more likely than not that we will be able to hold our debt securities to maturity. Therefore, we anticipate full recovery of our debt securities’ amortized cost basis at maturity.


        
Less than 12 Months of
Temporary Impairment
    
More than 12 Months of
Temporary Impairment
    
Total Temporary
Impairment
  
 (In thousands)
  
Number of
Investments
    
Estimated
Fair Value
    
Unrealized
Losses
    
Estimated
Fair Value
    
Unrealized
Losses
    
Estimated
Fair Value
    
Unrealized
Losses
  
Corporate debt securities
    
104
    
$
304,705
    
$
(268
)
  
$
31,675
    
$
(41
)
  
$
336,380
    
$
(309
)
Debt securities issued by U.S. government agencies
    
28
      
102,733
      
(156
)
    
22,974
      
(26
)
    
125,707
      
(182
)
Debt securities issued by the U.S. Treasury
    
9
      
77,918
      
(55
)
    
—
      
—
      
77,918
      
(55
)
Debt securities issued by states of the U.S. and political subdivisions of the states
    
13
      
1,498
      
(1
)
    
15,597
      
(32
)
    
17,095
      
(33
)
Total temporarily impaired securities
    
154
    
$
486,854
    
$
(480
)
  
$
70,246
    
$
(99
)
  
$
557,100
    
$
(579
)