Cash, Cash Equivalents and Investments (Tables)
|
9 Months Ended |
Sep. 30, 2015 |
|---|
| 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,
2014 |
|
As of
September 30,
2015 |
|
(in thousands) |
Cash and cash equivalents |
|
|
|
|
|
Cash |
$ |
72,487 |
|
|
$ |
79,423 |
|
Money market funds |
89,113 |
|
|
161,808 |
|
Commercial paper |
9,349 |
|
|
1,750 |
|
Corporate debt securities |
5,008 |
|
|
— |
|
Total cash and cash equivalents |
$ |
175,957 |
|
|
$ |
242,981 |
|
Short-term investments |
|
|
|
|
|
Commercial paper |
$ |
45,443 |
|
|
$ |
33,484 |
|
Corporate debt securities |
128,691 |
|
|
84,629 |
|
U.S. government and government agency debt securities |
4,497 |
|
|
2,501 |
|
Total short-term investments |
$ |
178,631 |
|
|
$ |
120,614 |
|
Long-term investments |
|
|
|
|
|
Corporate debt securities |
$ |
100,998 |
|
|
$ |
78,982 |
|
U.S. government and government agency debt securities |
3,245 |
|
|
— |
|
Total long-term investments |
$ |
104,243 |
|
|
$ |
78,982 |
|
Cash, cash equivalents and investments |
$ |
458,831 |
|
|
$ |
442,577 |
|
|
| 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, 2014 and September 30, 2015.
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2014 |
|
Adjusted
Cost
|
|
Unrealized
Gains
|
|
Unrealized
Losses
|
|
Fair
Value
|
|
(in thousands) |
Money market funds |
$ |
89,113 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
89,113 |
|
Commercial paper |
54,792 |
|
|
— |
|
|
— |
|
|
54,792 |
|
Corporate debt securities |
235,135 |
|
|
6 |
|
|
(444 |
) |
|
234,697 |
|
U.S. government and government agency debt securities |
7,751 |
|
|
— |
|
|
(9 |
) |
|
7,742 |
|
Total cash equivalents and marketable securities |
$ |
386,791 |
|
|
$ |
6 |
|
|
$ |
(453 |
) |
|
$ |
386,344 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, 2015 |
|
Adjusted
Cost
|
|
Unrealized
Gains
|
|
Unrealized
Losses
|
|
Fair
Value
|
|
(in thousands) |
Money market funds |
$ |
161,808 |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
161,808 |
|
Commercial paper |
35,234 |
|
|
— |
|
|
— |
|
|
35,234 |
|
Corporate debt securities |
163,735 |
|
|
100 |
|
|
(224 |
) |
|
163,611 |
|
U.S. government and government agency debt securities |
2,500 |
|
|
1 |
|
|
— |
|
|
2,501 |
|
Total cash equivalents and marketable securities |
$ |
363,277 |
|
|
$ |
101 |
|
|
$ |
(224 |
) |
|
$ |
363,154 |
|
|
| Schedule of available-for-sale investments by contractual maturity date |
The following table presents available-for-sale investments by contractual maturity date as of December 31, 2014 and September 30, 2015.
|
|
|
|
|
|
|
|
|
|
As of December 31, 2014 |
|
Adjusted
Cost
|
|
Fair Value |
|
(in thousands) |
Due in one year or less |
$ |
282,206 |
|
|
$ |
282,101 |
|
Due after one year through three years |
104,585 |
|
|
104,243 |
|
Total |
$ |
386,791 |
|
|
$ |
386,344 |
|
|
|
|
|
|
|
|
|
|
|
As of September 30, 2015 |
|
Adjusted
Cost
|
|
Fair Value |
|
(in thousands) |
Due in one year or less |
$ |
284,126 |
|
|
$ |
284,172 |
|
Due after one year through three years |
79,151 |
|
|
78,982 |
|
Total |
$ |
363,277 |
|
|
$ |
363,154 |
|
|
| 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, 2014 and September 30, 2015.
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|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of December 31, 2014 |
|
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) |
Money market funds |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Commercial paper |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Corporate debt securities |
192,699 |
|
|
(422 |
) |
|
12,148 |
|
|
(22 |
) |
|
204,847 |
|
|
(444 |
) |
U.S. government and government agency debt securities |
5,240 |
|
|
(9 |
) |
|
— |
|
|
— |
|
|
5,240 |
|
|
(9 |
) |
Total |
$ |
197,939 |
|
|
$ |
(431 |
) |
|
$ |
12,148 |
|
|
$ |
(22 |
) |
|
$ |
210,087 |
|
|
$ |
(453 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
As of September 30, 2015 |
|
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) |
Money market funds |
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
|
$ |
— |
|
Commercial paper |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Corporate debt securities |
82,366 |
|
|
(209 |
) |
|
14,569 |
|
|
(15 |
) |
|
96,935 |
|
|
(224 |
) |
U.S. government and government agency debt securities |
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
|
— |
|
Total |
$ |
82,366 |
|
|
$ |
(209 |
) |
|
$ |
14,569 |
|
|
$ |
(15 |
) |
|
$ |
96,935 |
|
|
$ |
(224 |
) |
|