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Fair Value Measurements (Tables)
 9 Months Ended
Sep. 30, 2018
Fair Value Disclosures [Abstract]  
Schedule of Marketable Securities
The following is a summary of available-for-sale marketable securities held as of September 30, 2018 and December 31, 2017 (in thousands):

 
 
 
Gross Unrealized
 
 
 
Classification on Balance Sheet
 
Amortized Cost
 
Gains
 
Losses
 
Aggregate
Fair Value
 
Short-Term
Marketable
Securities
 
Long-Term
Marketable
Securities
As of September 30, 2018
 
 
 
 
 
 
 
 
 
 
 
Certificates of deposit
$
65,000

 
$
5

 
$
(11
)
 
$
64,994

 
$
64,994

 
$
—

Commercial paper
393,835

 
3

 
(98
)
 
393,740

 
393,740

 
—

Corporate bonds
830,558

 
17

 
(5,253
)
 
825,322

 
581,609

 
243,713

U.S. government agency obligations
58,683

 
—

 
(564
)
 
58,119

 
55,660

 
2,459

 
$
1,348,076

 
$
25

 
$
(5,926
)
 
$
1,342,175

 
$
1,096,003

 
$
246,172

 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2017
 
 
 
 
 
 
 
 
 
 
 
Commercial paper
$
6,951

 
$
—

 
$
(9
)
 
$
6,942

 
$
6,942

 
$
—

Corporate bonds
736,902

 
2

 
(3,829
)
 
733,075

 
289,378

 
443,697

U.S. government agency obligations
220,014

 
—

 
(1,764
)
 
218,250

 
102,234

 
116,016

 
$
963,867

 
$
2

 
$
(5,602
)
 
$
958,267

 
$
398,554

 
$
559,713
Schedule of Fair Value Measurement
The following table details the fair value measurements within the fair value hierarchy of the Company’s financial assets and liabilities as of September 30, 2018 and December 31, 2017 (in thousands):

 
Total Fair Value
 
Fair Value Measurements at Reporting Date Using
 
 
Level 1    
 
Level 2    
 
Level 3    
As of September 30, 2018
 
 
 
 
 
 
 
Cash Equivalents and Marketable Securities:
 
 
 
 
 
 
 
Money market funds
$
139,125

 
$
139,125

 
$
—

 
$
—

Certificates of deposit
64,994

 
64,994

 
—

 
—

Commercial paper
393,740

 
—

 
393,740

 
—

Corporate bonds
825,322

 
—

 
825,322

 
—

U.S. government agency obligations
58,119

 
—

 
58,119

 
—

Mutual funds
11,193

 
11,193

 
—

 
—

 
$
1,492,493

 
$
215,312

 
$
1,277,181

 
$
—

 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
Contingent consideration related to a completed acquisition
$
(6,200
)
 
$
—

 
$
—

 
$
(6,200
)
 
 
 
 
 
 
 
 
As of December 31, 2017
 
 
 
Cash Equivalents and Marketable Securities:
 
 
 
 
 
 
 
Money market funds
$
22,649

 
$
22,649

 
$
—

 
$
—

Commercial paper
10,928

 
—

 
10,928

 
—

Corporate bonds
733,075

 
—

 
733,075

 
—

U.S. government agency obligations
218,248

 
—

 
218,248

 
—

     Mutual funds
7,879

 
7,879

 
—

 
—

 
$
992,779


$
30,528


$
962,251


$
—

 
 
 
 
 
 
 
 
Liabilities:
 
 
 
 
 
 
 
Contingent consideration related to a completed acquisition
$
(8,631
)
 
$
—

 
$
—

 
$
(8,631
)
Schedule of Contractual Maturities of Marketable Securities and Other Investment Related Assets
Contractual maturities of the Company’s available-for-sale marketable securities held as of September 30, 2018 and December 31, 2017 were as follows (in thousands):

 
September 30,
2018
 
December 31,
2017
Due in 1 year or less
$
1,096,003

 
$
398,554

Due after 1 year through 3 years
246,172

 
559,713

 
$
1,342,175

 
$
958,267
Schedule of Activity of Major Classes of Assets Measured at Fair Value Using Level 3 Inputs
The following table reflects the activity for the Company’s major classes of liabilities measured at fair value using Level 3 inputs during the nine months ended September 30, 2018 (in thousands):

 
Other Liabilities:
Contingent Consideration Obligation
Balance as of January 1, 2018
$
(8,631
)
Fair value adjustment to contingent consideration included in general and administrative expense
(1,735
)
Cash paid upon achievement of milestone
4,166

Balance as of September 30, 2018
$
(6,200
)