Cash, Cash Equivalents and Investments (Tables)
|
9 Months Ended |
Sep. 30, 2017 |
|---|
| Cash and Cash Equivalents [Abstract] |
|
| Schedule of cash, cash equivalents and investments |
Cash, cash equivalents and investments consisted of the following:
|
|
|
|
|
|
|
|
|
|
As of
December 31,
2016 |
|
As of
September 30,
2017 |
|
(in thousands) |
Cash and cash equivalents |
|
|
|
|
Cash |
$ |
144,192 |
|
|
$ |
405,677 |
|
Money market funds |
55,752 |
|
|
87,504 |
|
Total cash and cash equivalents |
$ |
199,944 |
|
|
$ |
493,181 |
|
Short-term investments |
|
|
|
|
|
Corporate debt securities |
$ |
37,109 |
|
|
$ |
6,249 |
|
Total short-term investments |
$ |
37,109 |
|
|
$ |
6,249 |
|
Long-term investments |
|
|
|
|
|
Corporate debt securities |
$ |
6,252 |
|
|
$ |
— |
|
Total long-term investments |
$ |
6,252 |
|
|
$ |
— |
|
Cash, cash equivalents and investments |
$ |
243,305 |
|
|
$ |
499,430 |
|
|
| Summary of available-for-sale securities' adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category |
The following tables summarize our available-for-sale securities’ adjusted cost, gross unrealized gains, gross unrealized losses and fair value by significant investment category as of December 31, 2016 and September 30, 2017.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2016 |
|
Adjusted
Cost
|
|
Unrealized
Gains
|
|
Unrealized
Losses
|
|
Fair
Value
|
|
(in thousands) |
Money market funds |
$ |
55,752 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
55,752 |
|
Corporate debt securities |
43,413 |
|
|
3 |
|
|
(55 |
) |
|
43,361 |
|
Total cash equivalents and marketable securities |
$ |
99,165 |
|
|
$ |
3 |
|
|
$ |
(55 |
) |
|
$ |
99,113 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, 2017 |
|
Adjusted
Cost
|
|
Unrealized
Gains
|
|
Unrealized
Losses
|
|
Fair
Value
|
|
(in thousands) |
Money market funds |
$ |
87,504 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
87,504 |
|
Corporate debt securities |
6,251 |
|
|
— |
|
|
(2 |
) |
|
6,249 |
|
Total cash equivalents and marketable securities |
$ |
93,755 |
|
|
$ |
— |
|
|
$ |
(2 |
) |
|
$ |
93,753 |
|
|
| Schedule of available-for-sale investments by contractual maturity date |
The following table presents available-for-sale securities by contractual maturity date as of December 31, 2016 and September 30, 2017.
|
|
|
|
|
|
|
|
|
|
As of December 31, 2016 |
|
Adjusted
Cost
|
|
Fair Value |
|
(in thousands) |
Due in one year or less |
$ |
92,914 |
|
|
$ |
92,861 |
|
Due after one year through three years |
6,251 |
|
|
6,252 |
|
Total |
$ |
99,165 |
|
|
$ |
99,113 |
|
|
|
|
|
|
|
|
|
|
|
As of September 30, 2017 |
|
Adjusted
Cost
|
|
Fair Value |
|
(in thousands) |
Due in one year or less |
$ |
93,755 |
|
|
$ |
93,753 |
|
Total |
$ |
93,755 |
|
|
$ |
93,753 |
|
|
| Summary of available-for-sale securities' fair value and gross unrealized losses |
The following tables summarize our available-for-sale securities’ fair value and gross unrealized losses aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position as of December 31, 2016 and September 30, 2017.
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2016 |
|
Twelve Months or Less |
|
More than Twelve Months |
|
Total |
|
Fair
Value |
|
Gross Unrealized Losses |
|
Fair
Value |
|
Gross Unrealized Losses |
|
Fair
Value |
|
Gross Unrealized Losses |
|
(in thousands) |
Corporate debt securities |
$ |
34,257 |
|
|
$ |
(52 |
) |
|
$ |
4,099 |
|
|
$ |
(3 |
) |
|
$ |
38,356 |
|
|
$ |
(55 |
) |
Total |
$ |
34,257 |
|
|
$ |
(52 |
) |
|
$ |
4,099 |
|
|
$ |
(3 |
) |
|
$ |
38,356 |
|
|
$ |
(55 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, 2017 |
|
Twelve Months or Less |
|
More than Twelve Months |
|
Total |
|
Fair
Value |
|
Gross Unrealized Losses |
|
Fair
Value |
|
Gross Unrealized Losses |
|
Fair
Value |
|
Gross Unrealized Losses |
|
(in thousands) |
Corporate debt securities |
$ |
6,249 |
|
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6,249 |
|
|
$ |
(2 |
) |
Total |
$ |
6,249 |
|
|
$ |
(2 |
) |
|
$ |
— |
|
|
$ |
— |
|
|
$ |
6,249 |
|
|
$ |
(2 |
) |
|