Cash and Available-for-Sale Securities

6 Months Ended

Jun. 30, 2019

Investments, Debt and Equity Securities [Abstract]

Cash and Available-for-Sale Securities

Cash and Available-for-Sale Securities

Cash, cash equivalents and investments consisted of the following (in thousands): 

	June 30, 2019
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Cash and Cash Equivalents		Investments
Cash	$	261,194	$	—	$	—	$	261,194	$	261,194	$	—
Time deposits	370,000		—		—		370,000		125,000		245,000
Money market funds	251,545		—		—		251,545		251,545		—
Totals	$	882,739	$	—	$	—	$	882,739	$	637,739	$	245,000

	December 31, 2018
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value		Cash and Cash Equivalents		Investments
Cash	$	215,606	$	—	$	—	$	215,606	$	215,606	$	—
Time deposits	515,000		—		—		515,000		—		515,000
Money market funds	94,016		—		—		94,016		94,016		—
Totals	$	824,622	$	—	$	—	$	824,622	$	309,622	$	515,000

Cash equivalents and investments are considered available-for-sale securities. We use the specific-identification method for calculating realized gains and losses on securities sold and include them in interest expense, net in the condensed consolidated statements of income. Our investment balances represent time deposits with original maturities of greater than three months and less than one year.