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Investments (Tables)
 3 Months Ended
Mar. 31, 2019
Investments Debt And Equity Securities [Abstract]  
Carrying Value and Amortized Cost of Company’s Investments Summarized by Major Security Type

The carrying value and amortized cost of the Company’s investments, summarized by major security type, consisted of the following (in thousands):

 

 

 

March 31, 2019

 

 

 

Amortized

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Estimated

Fair

Value

 

Corporate debt securities

 

$

177,361

 

 

$

178

 

 

$

(92

)

 

$

177,447

 

Commercial paper

 

 

139,212

 

 

 

115

 

 

 

(7

)

 

 

139,320

 

 

 

$

316,573

 

 

$

293

 

 

$

(99

)

 

$

316,767

 

 

 

 

December 31, 2018

 

 

 

Amortized

Cost

 

 

Unrealized

Gains

 

 

Unrealized

Losses

 

 

Estimated

Fair

Value

 

Corporate debt securities

 

$

187,371

 

 

$

39

 

 

$

(344

)

 

$

187,066

 

Commercial paper

 

 

151,774

 

 

 

—

 

 

 

(78

)

 

 

151,696

 

 

 

$

339,145

 

 

$

39

 

 

$

(422

)

 

$

338,762

 
Summary of Gross Unrealized Losses and Fair Value of Available-For-Sale Investment Securities in Unrealized Loss Position The following table presents gross unrealized losses and fair value for those available-for-sale investment securities that were in an unrealized loss position as of March 31, 2019 and December 31, 2018, aggregated by investment category and length of time that the individual securities have been in a continuous loss position (in thousands):

 

 

Less Than 12 Months

 

 

12 Months or Greater

 

 

Total

 

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

March 31, 2019:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

67,967

 

 

$

(8

)

 

$

39,027

 

 

$

(84

)

 

$

106,994

 

 

$

(92

)

Commercial paper

 

 

34,224

 

 

 

(7

)

 

 

—

 

 

 

—

 

 

 

34,224

 

 

 

(7

)

Total

 

$

102,191

 

 

$

(15

)

 

$

39,027

 

 

$

(84

)

 

$

141,218

 

 

$

(99

)

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Less Than 12 Months

 

 

12 Months or Greater

 

 

Total

 

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

 

Estimated Fair Value

 

 

Unrealized Losses

 

December 31, 2018:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Corporate debt securities

 

$

91,265

 

 

$

(130

)

 

$

44,637

 

 

$

(214

)

 

$

135,902

 

 

$

(344

)

Commercial paper

 

 

151,696

 

 

 

(78

)

 

 

—

 

 

 

—

 

 

 

151,696

 

 

 

(78

)

Total

 

$

242,961

 

 

$

(208

)

 

$

44,637

 

 

$

(214

)

 

$

287,598

 

 

$

(422

)