Fair Value of Financial Instruments (Tables)
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9 Months Ended |
Sep. 30, 2016 |
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| Fair Value Disclosures [Abstract] |
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| Schedule of Cash and Cash Equivalents, Available-for-sale Securities Reconciliation |
The Company's cash and cash equivalents, short-term investments, and long-term investments consist of the following:
| | | | | | | | | | | | | | | | | | September 30, 2016 | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | (in thousands) | Cash and cash equivalents: | | | | | | | | Cash | $ | 58,277 |
| | $ | — |
| | $ | — |
| | $ | 58,277 |
| Money market funds | 19,713 |
| | — |
| | — |
| | 19,713 |
| Commercial paper | 20,308 |
| | 1 |
| | — |
| | 20,309 |
| Total | 98,298 |
| | 1 |
| | — |
| | 98,299 |
| Short-term investments: | | | | | | | | Commercial paper | 6,863 |
| | 1 |
| | — |
| | 6,864 |
| Corporate bonds | 11,173 |
| | 6 |
| | (9 | ) | | 11,170 |
| Asset-backed securities | 256 |
| | — |
| | — |
| | 256 |
| U.S. government agencies | 93,372 |
| | 26 |
| | (10 | ) | | 93,388 |
| Total | 111,664 |
| | 33 |
| | (19 | ) | | 111,678 |
| Long-term investments: | | | | | | | | Asset-backed securities | 5,696 |
| | 9 |
| | — |
| | 5,705 |
| U.S. government agencies | 43,776 |
| | 25 |
| | (26 | ) | | 43,775 |
| Corporate bonds | 15,457 |
| | 6 |
| | (13 | ) | | 15,450 |
| Total | 64,929 |
| | 40 |
| | (39 | ) | | 64,930 |
| Total | $ | 274,891 |
| | $ | 74 |
| | $ | (58 | ) | | $ | 274,907 |
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| | | | | | | | | | | | | | | | | | December 31, 2015 | | Amortized Cost | | Unrealized Gains | | Unrealized Losses | | Fair Value | | (in thousands) | Cash and cash equivalents: | | | | | | | | Cash | $ | 61,372 |
| | $ | — |
| | $ | — |
| | $ | 61,372 |
| Money market funds | 3,980 |
| | — |
| | — |
| | 3,980 |
| U.S. government agencies | 8,999 |
| | 1 |
| | — |
| | 9,000 |
| Commercial paper | 17,345 |
| | 1 |
| | — |
| | 17,346 |
| Total | 91,696 |
| | 2 |
| | — |
| | 91,698 |
| Short-term investments: | | | | | | | | Commercial paper | 10,447 |
| | 1 |
| | — |
| | 10,448 |
| Corporate bonds | 12,448 |
| | — |
| | (13 | ) | | 12,435 |
| U.S. government agencies | 64,422 |
| | 3 |
| | (40 | ) | | 64,385 |
| Total | 87,317 |
| | 4 |
| | (53 | ) | | 87,268 |
| Long-term investments: | | | | | | | | Asset-backed securities | 7,007 |
| | — |
| | (18 | ) | | 6,989 |
| U.S. government agencies | 32,683 |
| | — |
| | (142 | ) | | 32,541 |
| Corporate bonds | 3,751 |
| | — |
| | (4 | ) | | 3,747 |
| Total | 43,441 |
| | — |
| | (164 | ) | | 43,277 |
| Total | $ | 222,454 |
| | $ | 6 |
| | $ | (217 | ) | | $ | 222,243 |
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| Schedule of changes to accumulated other comprehensive income |
The following table shows the changes to accumulated other comprehensive income for the nine months ended September 30, 2016:
| | | | | | Unrealized Gain (Loss) on Investments | Balance at December 31, 2015 | $ | (211 | ) | Change in net realized gain (loss) on investments | 140 |
| Amounts reclassified for net realized gain (loss) included in net income | 87 |
| Other comprehensive income | 227 |
| Balance at September 30, 2016 | $ | 16 |
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| Schedule of Assets Measured on Recurring Basis |
The following table sets forth by level within the fair value hierarchy the fair value of the Company's available-for-sale securities measured on a recurring basis, excluding cash and money market funds:
| | | | | | | | | | | | | | | | | | September 30, 2016 | | Level 1 | | Level 2 | | Level 3 | | Fair Value | | (in thousands) | Commercial paper | $ | — |
| | $ | 27,173 |
| | $ | — |
| | $ | 27,173 |
| U.S. government agencies | — |
| | 137,163 |
| | — |
| | 137,163 |
| Corporate bonds | — |
| | 26,620 |
| | — |
| | 26,620 |
| Asset-backed securities | — |
| | 5,961 |
| | — |
| | 5,961 |
| Total | $ | — |
| | $ | 196,917 |
| | $ | — |
| | $ | 196,917 |
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| | | | | | | | | | | | | | | | | | December 31, 2015 | | Level 1 | | Level 2 | | Level 3 | | Fair Value | | (in thousands) | Commercial paper | $ | — |
| | $ | 27,794 |
| | $ | — |
| | $ | 27,794 |
| U.S. government agencies | — |
| | 105,926 |
| | — |
| | 105,926 |
| Corporate bonds | — |
| | 16,182 |
| | — |
| | 16,182 |
| Asset-backed securities | — |
| | 6,989 |
| | — |
| | 6,989 |
| Total | $ | — |
| | $ | 156,891 |
| | $ | — |
| | $ | 156,891 |
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| Schedule of Available-for-Sale Securities by Contractual Maturity |
The following summarizes the fair value of securities classified as available-for-sale by contractual, or effective, maturity:
| | | | | | | | | | | | | | | | | | September 30, 2016 | | Mature within One Year | | After One Year through Two Years | | Over Two Years | | Fair Value | | (in thousands) | Commercial paper | $ | 27,173 |
| | $ | — |
| | $ | — |
| | $ | 27,173 |
| U.S. government agencies | 97,192 |
| | 39,971 |
| | — |
| | 137,163 |
| Corporate bonds | 12,833 |
| | 13,787 |
| | — |
| | 26,620 |
| Asset-backed securities | 5,961 |
| | — |
| | — |
| | 5,961 |
| Total | $ | 143,159 |
| | $ | 53,758 |
| | $ | — |
| | $ | 196,917 |
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| Summary of Gains (Losses) Recognized From Forward Contracts and Other Foreign Currency Transactions |
The following summarizes the gains (losses) recognized from forward contracts and other foreign currency transactions:
| | | | | | | | | | | | | | | | | | Three Months Ended | | Nine Months Ended | | September 30, | | September 30, | | 2016 | | 2015 | | 2016 | | 2015 | | (in thousands) | Net gain (loss) from forward contracts | $ | (82 | ) | | $ | 109 |
| | $ | (9 | ) | | $ | 498 |
| Other foreign currency transactions losses | (2 | ) | | (377 | ) | | (276 | ) | | (890 | ) | Total foreign exchange loss, net | $ | (84 | ) | | $ | (268 | ) | | $ | (285 | ) | | $ | (392 | ) |
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