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Investments (Tables)
 6 Months Ended
Jun. 30, 2020
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 June 30, 2020:

One year or less
    
69
%
After one year but within two years
    
23
%
After two years but within three years
    
8
%
Total
    
100
%
Summary of Investments

The following is a summary of our investments (in thousands):

        
Gross Unrealized
    
Estimated
  
June 30, 2020
  
Cost (1)
    
Gains
    
Losses
    
Fair Value
  
Available-for-sale securities:
                        
Corporate debt securities (2)
  
$
652,555
    
$
4,275
    
$
(17
)
  
$
656,813
  
Debt securities issued by U.S. government agencies
    
139,810
      
673
      
(9
)
    
140,474
  
Debt securities issued by the U.S. Treasury (2)
    
325,925
      
815
      
(7
)
    
326,733
  
Debt securities issued by states of the U.S. and political subdivisions of the states
    
68,651
      
214
      
(3
)
    
68,862
  
Other municipal debt securities
    
902
      
7
      
—
      
909
  
Total securities with a maturity of one year or less
    
1,187,843
      
5,984
      
(36
)
    
1,193,791
  
Corporate debt securities
    
485,487
      
8,780
      
(121
)
    
494,146
  
Debt securities issued by U.S. government agencies
    
118,538
      
521
      
(28
)
    
119,031
  
Debt securities issued by the U.S. Treasury
    
58,334
      
588
      
(4
)
    
58,918
  
Debt securities issued by states of the U.S. and political subdivisions of the states
    
50,514
      
371
      
(3
)
    
50,882
  
Total securities with a maturity of more than one year
    
712,873
      
10,260
      
(156
)
    
722,977
  
Total available-for-sale securities
  
$
1,900,716
    
$
16,244
    
$
(192
)
  
$
1,916,768
  
Equity securities:
                                
Total equity securities included in other current assets (3)
  
$
4,712
    
$
—
    
$
(2,322
)
  
$
2,390
  
Total equity securities included in deposits and other assets (4)
    
15,019
      
9,318
      
—
      
24,337
  
Total equity securities
    
19,731
      
9,318
      
(2,322
)
    
26,727
  
Total available-for-sale and equity securities
  
$
1,920,447
    
$
25,562
    
$
(2,514
)
  
$
1,943,495
  

       
Gross Unrealized
    
Estimated
  
December 31, 2019
  
Cost (1)
    
Gains
    
Losses
    
Fair Value
  
Available-for-sale securities:
                        
Corporate debt securities (2)
  
$
669,665
    
$
1,451
    
$
(43
)
  
$
671,073
  
Debt securities issued by U.S. government agencies
    
188,216
      
303
      
(43
)
    
188,476
  
Debt securities issued by the U.S. Treasury (2)
    
327,670
      
232
      
(27
)
    
327,875
  
Debt securities issued by states of the U.S. and political subdivisions of the states (2)
    
21,065
      
26
      
(5
)
    
21,086
  
Total securities with a maturity of one year or less
    
1,206,616
      
2,012
      
(118
)
    
1,208,510
  
Corporate debt securities
    
428,627
      
2,911
      
(43
)
    
431,495
  
Debt securities issued by U.S. government agencies
    
140,988
      
57
      
(117
)
    
140,928
  
Debt securities issued by the U.S. Treasury
    
35,822
      
9
      
(12
)
    
35,819
  
Debt securities issued by states of the U.S. and political subdivisions of the states
    
19,309
      
18
      
(6
)
    
19,321
  
Total securities with a maturity of more than one year
    
624,746
      
2,995
      
(178
)
    
627,563
  
Total available-for-sale securities
  
$
1,831,362
    
$
5,007
    
$
(296
)
  
$
1,836,073
  
Equity securities:
                                
Total equity securities included in other current assets (3)
    
4,712
      
—
      
(870
)
    
3,842
  
Total equity securities included in deposits and other assets (4)
    
10,000
      
—
      
—
      
10,000
  
Total equity securities
    
14,712
      
—
      
(870
)
    
13,842
  
Total available-for-sale and equity securities
  
$
1,846,074
    
$
5,007
    
$
(1,166
)
  
$
1,849,915
  

(1)
We hold our available-for-sale securities at amortized cost.

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

(3)
Our equity securities included in other current assets consisted of our investments in publicly-traded companies. We recognize publicly-traded equity securities at fair value.

(4)
Our equity securities included in deposits and other assets consisted of our investments in privately-held companies. We recognize our private company 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 June 30, 2020 (in thousands). 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
  
   
Number of
Investments
    
Estimated
Fair Value
    
Unrealized
Losses
    
Estimated
Fair Value
    
Unrealized
Losses
    
Estimated
Fair Value
    
Unrealized
Losses
  
Corporate debt securities
    
37
    
$
87,460
    
$
(138
)
  
$
—
    
$
—
    
$
87,460
    
$
(138
)
Debt securities issued by U.S. government agencies
    
10
      
44,389
      
(33
)
    
26,997
      
(4
)
    
71,386
      
(37
)
Debt securities issued by the U.S. Treasury
    
9
      
110,067
      
(11
)
    
—
      
—
      
110,067
      
(11
)
Debt securities issued by states of the U.S. and political subdivisions of the states
    
22
      
7,763
      
(6
)
    
—
      
—
      
7,763
      
(6
)
Total temporarily impaired securities
    
78
    
$
249,679
    
$
(188
)
  
$
26,997
    
$
(4
)
  
$
276,676
    
$
(192
)