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INVESTMENTS (Tables)
 9 Months Ended
Sep. 30, 2015
Investments, Debt and Equity Securities [Abstract]  
Investments
The following table summarizes, by major security type, the Company's investments as of September 30, 2015 (in thousands): 
 
 
Cost
 
Gross 
Unrealized 
Gains
 
Gross 
Unrealized
 Losses
 
Fair
 Value
Available-for-sale securities:
 
 

 
 

 
 

 
 

Short-term investments:
 
 
 
 
 
 
 
 
Foreign government securities
 
$
71,834

 
$
2

 
$
(4
)
 
$
71,832

U.S. government securities
 
638,131

 
263

 
—

 
638,394

Corporate debt securities
 
497,498

 
134

 
(405
)
 
497,227

Commercial paper
 
1,716

 
—

 
—

 
1,716

U.S. government agency securities
 
2,012

 
3

 
—

 
2,015

Total short-term investments
 
$
1,211,191

 
$
402

 
$
(409
)
 
$
1,211,184

 
 
 
 
 
 
 
 
 
Long-term investments:
 
 
 
 
 
 
 
 
Foreign government securities
 
$
485,783

 
$
381

 
$
(190
)
 
$
485,974

U.S. government securities
 
773,651

 
4,563

 
—

 
778,214

Corporate debt securities
 
3,749,053

 
6,175

 
(15,001
)
 
3,740,227

U.S. municipal securities
 
1,089

 
6

 
—

 
1,095

Ctrip convertible debt securities
 
750,000

 
—

 
(50,525
)
 
699,475

Ctrip equity securities
 
584,099

 
38,546

 
—

 
622,645

Total long-term investments
 
$
6,343,675

 
$
49,671

 
$
(65,716
)
 
$
6,327,630

The following table summarizes, by major security type, the Company's investments as of December 31, 2014 (in thousands): 
 
 
Cost
 
Gross 
Unrealized 
Gains
 
Gross 
Unrealized
 Losses
 
Fair
 Value
Available-for-sale securities:
 
 

 
 

 
 

 
 

Short-term investments:
 
 
 
 
 
 
 
 
Foreign government securities
 
$
52,524

 
$
—

 
$
(34
)
 
$
52,490

U.S. government securities
 
364,276

 
24

 
(34
)
 
364,266

Corporate debt securities
 
582,160

 
15

 
(652
)
 
581,523

Commercial paper
 
39,092

 
—

 
—

 
39,092

U.S. government agency securities
 
104,829

 
—

 
(18
)
 
104,811

Total short-term investments
 
$
1,142,881

 
$
39

 
$
(738
)
 
$
1,142,182

 
 
 
 
 
 
 
 
 
Long-term investments:
 
 
 
 
 
 
 
 
Foreign government securities
 
$
12,707

 
$
—

 
$
(36
)
 
$
12,671

U.S. government securities
 
557,130

 
80

 
(762
)
 
556,448

Corporate debt securities
 
2,332,030

 
2,299

 
(5,296
)
 
2,329,033

U.S. government agency securities
 
95,108

 
97

 
(111
)
 
95,094

U.S. municipal securities
 
1,114

 
—

 
(12
)
 
1,102

Ctrip convertible debt securities
 
500,000

 
—

 
(74,039
)
 
425,961

Ctrip equity securities
 
421,930

 
—

 
(86,586
)
 
335,344

Total long-term investments
 
$
3,920,019

 
$
2,476

 
$
(166,842
)
 
$
3,755,653