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Marketable Securities
9 Months Ended
Sep. 30, 2018
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
Note 8—Marketable Securities
Short-term investments and certain cash equivalents consist of investments in debt securities that are available-for-sale. The cost and fair value of available-for-sale securities were as follows as of the dates indicated (in thousands):
 
Cost
 
Gross
Unrealized
Holding Loss
 
Gross
Unrealized
Holding Gain
 
Fair Value
September 30, 2018
 
 
 
 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
Commercial paper
$
2,994

 
$

 
$

 
$
2,994

 
2,994

 

 

 
2,994

Short-term investments:
 
 
 
 
 
 
 
Commercial paper
125,976

 

 

 
125,976

Corporate bonds
40,610

 
(6
)
 
3

 
40,607

U.S. Government and agency securities
54,832

 
(17
)
 
11

 
54,826

 
221,418

 
(23
)
 
14

 
221,409

 
$
224,412

 
$
(23
)
 
$
14

 
$
224,403

December 31, 2017
 
 
 
 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
Commercial paper
$
11,290

 
$

 
$

 
$
11,290

U.S. Government and agency securities
24,990

 
(1
)
 

 
24,989

 
36,280

 
(1
)
 

 
36,279

Short-term investments:
 
 
 
 
 
 
 
Commercial paper
2,998

 

 

 
2,998

Corporate bonds
12,754

 
(6
)
 

 
12,748

U.S. Government and agency securities
9,352

 
(1
)
 
11

 
9,362

 
25,104

 
(7
)
 
11

 
25,108

 
$
61,384

 
$
(8
)
 
$
11

 
$
61,387


The Company’s investments in marketable securities consist primarily of investments in debt securities, including AA-rated U.S. Government and agency securities and fixed-income funds. When evaluating investments for other-than-temporary impairment, the Company reviews factors such as length of time and extent to which fair value has been below cost basis, the financial condition of the issuer and the Company’s ability, and intent to hold the investment for a period of time, which may be sufficient for anticipated recovery in market value. The Company evaluates fair values for each individual security in the investment portfolio.
See “Note 7—Fair Value Measurements” for additional information on the Company’s marketable securities measured at fair value.