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Fair Value Measurements of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2018
Fair Value Disclosures [Abstract]  
Assets and Liabilities Measured at Fair Value on a Recurring Basis
The following table sets forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of June 30, 2018 (in thousands) (there were no material assets or liabilities that were measured at fair value on a recurring basis as of December 31, 2017):
 
 
 
 
Fair Value Measurement Based on
 
 
Total
 
Quoted Prices in Active Markets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
Significant Unobservable
Inputs
(Level 3)
Assets
 
 
 
 
 
 
 
 
Deferred Compensation Plan asset (1)
 
$
43,213

 
$
—

 
$
43,213

 
$
—

Liabilities
 
 
 
 
 
 
 
 
Deferred Compensation Plan liabilities (1)
 
$
34,213

 
$
—

 
$
34,213

 
$
—


1The deferred compensation plan liabilities are non-current liabilities recorded at the value of the amount owed to the plan participants, with changes in value recognized as compensation expense. The calculation of the deferred compensation plan obligation is derived from observable market data by reference to hypothetical investments selected by the participants and is included in other long-term liabilities. The Company invests participant contributions in corporate-owned life insurance policies, for which the cash surrender value is included in other non-current assets.