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Fair Value Measurement (Notes)
9 Months Ended
Sep. 30, 2017
Fair Value Disclosures [Abstract]  
Fair Value Disclosures [Text Block]
Fair Value Measurement
Available-for-sale marketable securities consisted of the following (in thousands):
 
 
September 30, 2017
 
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Corporate debt securities
 
$
79,786

 
$
3

 
$
(43
)
 
$
79,746

U.S. Treasury securities
 
11,973

 
2

 
(8
)
 
11,967

Commercial paper
 
60,812

 

 

 
60,812

 
 
$
152,571

 
$
5

 
$
(51
)
 
$
152,525


 
 
December 31, 2016
 
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Corporate debt securities
 
$
40,221

 
$
1

 
$
(15
)
 
$
40,207

U.S. Treasury securities
 
94,002

 
24

 
(16
)
 
94,010

Commercial paper
 
4,000

 

 

 
4,000

 
 
$
138,223

 
$
25

 
$
(31
)
 
$
138,217


As of September 30, 2017, $146.5 million of our available-for-sale marketable securities were scheduled to mature within the next 12 months. As of September 30, 2017, fourteen available-for-sale marketable securities were in a gross unrealized loss position, all of which had been in such position for less than 12 months. Based on our review of these marketable securities, we believe we had no other-than-temporary impairments on these securities as of September 30, 2017, because we do not intend to sell these securities and it is not more-likely-than-not that we will be required to sell these securities before the recovery of their amortized cost basis.
The following table summarizes, by major security type, our cash equivalents and available-for-sale marketable securities that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy (in thousands):
 
 
September 30, 2017
 
December 31, 2016
 
 
Level 1
 
Level 2
 
Total estimated fair value
 
Level 1
 
Level 2
 
Total estimated fair value
Cash equivalents:
 
 
 
 
 
 
 
 
 
 
 
 
Money market funds
 
$
138,194

 
$

 
$
138,194

 
$
60,916

 
$

 
$
60,916

U.S. Treasury securities
 
8,000

 

 
8,000

 

 

 

Commercial paper
 

 
4,000

 
4,000

 

 

 

 
 
 
 
 
 
 
 
 
 
 
 
 
Available-for-sale marketable
   securities:
 
 
 
 
 
 
 
 
 
 
 
 
Corporate debt securities
 

 
79,746

 
79,746

 

 
40,207

 
40,207

U.S. Treasury securities
 
11,967

 

 
11,967

 
94,010

 

 
94,010

Commercial paper
 

 
60,812

 
60,812

 

 
4,000

 
4,000

 
 
$
158,161

 
$
144,558

 
$
302,719

 
$
154,926

 
$
44,207

 
$
199,133


There were no transfers between Level 1 and Level 2 of the fair value hierarchy during the nine months ended September 30, 2017. We had no instruments that were classified within Level 3 as of September 30, 2017 and December 31, 2016.