Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2018

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, 2018		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	$	433,449	$	433,449	$	—	$	—
Money market funds	756,455		756,455		—		—
Corporate securities	3,118		—		3,118		—
Government securities	12,160		—		12,160		—
Available-for-sale securities:
Agency securities	353,597		—		353,597		—
Corporate securities	621,790		—		621,077		713
Municipal securities	2,505		—		2,505		—
Government securities	308,531		—		308,531		—
Prepaid expenses and other current assets:
Foreign currency derivatives	627		—		627		—
Total assets	$	2,492,232	$	1,189,904	$	1,301,615	$	713
Accrued expenses and other current liabilities:
Foreign currency derivatives	3,783		—		3,783		—
Total liabilities	$	3,783	$	—	$	3,783	$	—



	As of December 31, 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	$	556,520	$	556,520	$	—	$	—
Money market funds	555,826		555,826		—		—
Corporate securities	2,784		—		2,784		—
Available-for-sale securities:
Agency securities	439,064		—		439,064		—
Corporate securities	807,692		—		807,299		393
Municipal securities	3,965		—		3,965		—
Government securities	366,123		—		366,123		—
Prepaid expenses and other current assets:
Foreign currency derivatives	2,498		—		2,498		—
Total assets	$	2,734,472	$	1,112,346	$	1,621,733	$	393
Accrued expenses and other current liabilities:
Foreign currency derivatives	814		—		814		—
Total liabilities	$	814	$	—	$	814	$	—

Fair Value, by Balance Sheet Grouping

As of September 30, 2018, the fair value of the 2027 Notes and 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, 2018, 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
2027 Notes	$	722,858	$	741,551
Convertible Notes	$	2,210,935	$	1,415,970