FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2014

Financial instruments carried at fair value

Financial assets and liabilities carried at fair value as of September 30, 2014 are classified in the tables below in the categories described below (in thousands):



	Level 1		Level 2		Total
ASSETS:
Cash equivalents:
Money market funds	$	69,430	$	—	$	69,430
Foreign government securities	—		838,090		838,090
U.S. government securities	—		2,135,978		2,135,978
U.S. commercial paper	—		731,788		731,788
U.S. government agency securities	—		262,467		262,467
Short-term investments:
Foreign government securities	—		189,515		189,515
U.S. government securities	—		650,513		650,513
U.S. commercial paper	—		182,630		182,630
U.S. government agency securities	—		170,695		170,695
Foreign exchange derivatives	—		423		423
Long-term investments:
U.S. government securities	—		231,991		231,991
U.S. corporate debt securities	—		1,043,777		1,043,777
U.S. government agency securities	—		70,246		70,246
Ctrip corporate debt securities	—		479,500		479,500
Ctrip equity securities	139,668		—		139,668
Total assets at fair value	$	209,098	$	6,987,613	$	7,196,711



	Level 1		Level 2		Total
LIABILITIES:
Foreign exchange derivatives	$	—	$	1,044	$	1,044

Financial assets and liabilities carried at fair value as of December 31, 2013 are classified in the tables below in the categories described below (in thousands):



	Level 1		Level 2		Total
ASSETS:
Cash equivalents:
Money market funds	$	273,850	$	—	$	273,850
Foreign government securities	—		238,202		238,202
U.S. government securities	—		28,000		28,000
Short-term investments:
Foreign government securities	—		4,019,407		4,019,407
U.S. government securities	—		1,443,313		1,443,313
Foreign exchange derivatives	—		292		292
Total assets at fair value	$	273,850	$	5,729,214	$	6,003,064



	Level 1		Level 2		Total
LIABILITIES:
Foreign exchange derivatives	$	—	$	122,091	$	122,091