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Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
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, 2017
 
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
$
869,770

 
$
869,770

 
$
—

 
$
—

Money market funds
66,245

 
66,245

 
—

 
—

Corporate securities
4,854

 
—

 
4,854

 
—

Available-for-sale securities:
 
 
 
 
 
 
 
Agency securities
482,658

 
—

 
482,658

 
—

Corporate securities
802,480

 
—

 
802,086

 
394

Municipal securities
3,977

 
—

 
3,977

 
—

Government securities
328,730

 
—

 
328,730

 
—

Prepaid expenses and other current assets:
 
 
 
 
 
 
 
Foreign currency derivatives
4,531

 
—

 
4,531

 
—

Total assets
$
2,563,245

 
$
936,015

 
$
1,626,836

 
$
394

Accrued expenses and other current liabilities:
 
 
 
 
 
 
 
Foreign currency derivatives
622

 
—

 
622

 
—

Total liabilities
$
622

 
$
—

 
$
622

 
$
—


 
As of December 31, 2016
 
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
$
528,637

 
$
528,637

 
$
—

 
$
—

Money market funds
224,765

 
224,765

 
—

 
—

Corporate securities
82,693

 
—

 
82,693

 
—

Available-for-sale securities:
 
 
 
 
 
 
 
Agency securities
411,493

 
—

 
411,493

 
—

Corporate securities
840,966

 
—

 
839,968

 
998

Municipal securities
9,988

 
—

 
9,988

 
—

Government securities
444,618

 
—

 
444,618

 
—

Prepaid expenses and other current assets:
 
 
 
 
 
 
 
Foreign currency derivatives
2,506

 
—

 
2,506

 
—

Total assets
$
2,545,666

 
$
753,402

 
$
1,791,266

 
$
998

Accrued expenses and other current liabilities:
 
 
 
 
 
 
 
Foreign currency derivatives
4,435

 
—

 
4,435

 
—

Total liabilities
$
4,435

 
$
—

 
$
4,435

 
$
—

Fair Value, by Balance Sheet Grouping
As of September 30, 2017, 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, 2017, 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
$
1,672,095

 
$
1,376,673