Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2014

Assets And Liabilities Measured At Fair Value On A Recurring Basis

Assets and Liabilities Measured at Fair Value on a Recurring Basis



	As of September 30, 2014		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Cash and cash equivalents:
Cash	$	230,329	$	230,329	$	—	$	—
Money market funds	11,794		11,794		—		—
Corporate securities	664		—		664		—
Available-for-sale securities:
Agency securities	645,344		—		645,344		—
Corporate securities	768,192		—		762,101		6,091
Municipal securities	41,273		—		41,273		—
Government securities	122,859		—		122,859		—
Prepaid expenses and other current assets:
Foreign currency derivatives	2,053		—		2,053		—
Total assets	$	1,822,508	$	242,123	$	1,574,294	$	6,091
Accrued expenses and other current liabilities:
Foreign currency derivatives	7,064		—		7,064		—
Total liabilities	$	7,064	$	—	$	7,064	$	—



	As of December 31, 2013		Quoted Prices In Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Cash and cash equivalents:
Cash	$	227,528	$	227,528	$	—	$	—
Money market funds	52,823		52,823		—		—
Corporate securities	389		—		389		—
Available-for-sale securities:
Agency securities	454,750		—		454,750		—
Corporate securities	644,091		—		633,800		10,291
Municipal securities	53,756		—		53,756		—
Government securities	157,079		—		157,079		—
Prepaid expenses and other current assets:
Foreign currency derivatives	4,952		—		4,952		—
Total assets	$	1,595,368	$	280,351	$	1,304,726	$	10,291
Accrued expenses and other current liabilities:
Foreign currency derivatives	1,743		—		1,743		—
Total liabilities	$	1,743	$	—	$	1,743	$	—

Assets Measured At Fair Value On A Recurring Basis Using Significant Unobservable Inputs



	Corporate Securities
	(In thousands)
Balance at December 31, 2013	$	10,291
Purchases of Level 3 securities	1,300
Proceeds received on Level 3 securities	(7,875		)
Total net realized gains included in earnings	2,375
Balance at September 30, 2014	$	6,091

Fair Value, by Balance Sheet Grouping

As of September 30, 2014, the fair value of the Convertible Notes, which was determined based on inputs that are observable in the market (Level 2) based on the closing trading price per $100 as of the last day of trading for the quarter ended September 30, 2014, and carrying value of debt instruments (carrying value excludes the equity component of the Company’s Convertible Notes classified in equity) was as follows:



	Fair Value		Carrying Value
Convertible Senior Notes	$	1,566,875	$	1,285,092

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

+ References+ Details

- Definition

Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities.

+ References+ Details