Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2015

Assets And Liabilities Measured At Fair Value On A Recurring Basis

Assets and Liabilities Measured at Fair Value on a Recurring Basis



	As of March 31, 2015		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	$	268,789	$	268,789	$	—	$	—
Money market funds	120,388		120,388		—		—
Corporate securities	13,756		—		13,756		—
Available-for-sale securities:
Agency securities	619,349		—		619,349		—
Corporate securities	777,589		—		770,616		6,973
Municipal securities	39,158		—		39,158		—
Government securities	130,585		—		130,585		—
Prepaid expenses and other current assets:
Foreign currency derivatives	1,198		—		1,198		—
Total assets	$	1,970,812	$	389,177	$	1,574,662	$	6,973
Accrued expenses and other current liabilities:
Foreign currency derivatives	11,504		—		11,504		—
Total liabilities	$	11,504	$	—	$	11,504	$	—



	As of December 31, 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	$	230,370	$	230,370	$	—	$	—
Money market funds	29,512		29,512		—		—
Corporate securities	267		—		267		—
Available-for-sale securities:
Agency securities	638,313		—		638,313		—
Corporate securities	794,115		—		788,042		6,073
Municipal securities	48,730		—		48,730		—
Government securities	121,212		—		121,212		—
Prepaid expenses and other current assets:
Foreign currency derivatives	1,206		—		1,206		—
Total assets	$	1,863,725	$	259,882	$	1,597,770	$	6,073
Accrued expenses and other current liabilities:
Foreign currency derivatives	9,692		—		9,692		—
Total liabilities	$	9,692	$	—	$	9,692	$	—

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



	Corporate Securities
	(In thousands)
Balance at December 31, 2014	$	6,073
Purchases of Level 3 securities	1,000
Total net realized losses included in earnings	(100		)
Balance at March 31, 2015	$	6,973

Fair Value, by Balance Sheet Grouping

As of March 31, 2015, 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 March 31, 2015, and carrying value of debt instruments (carrying value excludes the equity component of the Company’s Convertible Notes classified in equity) was as follows (in thousands):



	Fair Value		Carrying Value
Convertible Senior Notes	$	1,519,668	$	1,300,872

- 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.

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- 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.

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