Financial Instruments and Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2018

Financial Instruments and Fair Value Measurements

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis

The financial instruments measured at fair value on a recurring basis at June 30, 2018 were as follows:

							Total Fair
	Level 1		Level 2		Level 3		Value
Cash equivalents:
Money market funds	$	24,256	$	—	$	—	$	24,256
Commercial paper		165,619		—		—		165,619
		189,875		—		—		189,875
Investments - debt securities
U.S. Treasury securities		9,946		—		—		9,946
Corporate debt securities		—		4,256		—		4,256
		9,946		4,256		—		14,202
Investments - equity securities
Preferred stock		10,862		27,968		—		38,830
Restricted investments:
Short-term bond		3,239		—		—		3,239
Money market fund		167		—		—		167
		3,406		—		—		3,406
	$	214,089	$	32,224	$	—	$	246,313

The financial instruments measured at fair value on a recurring basis at December 31, 2017 were as follows:

							Total Fair
	Level 1		Level 2		Level 3		Value
Cash equivalents:
Money market funds	$	10,505	$	—	$	—	$	10,505
Commercial paper		159,970		—		—		159,970
		170,475		—		—		170,475
Investments - debt securities
U.S. Treasury securities		9,870		—		—		9,870
Corporate debt securities		—		66,375		—		66,375
		9,870		66,375		—		76,245
Investments - equity securities
Preferred stock		10,717		24,306		—		35,023
Restricted investments:
Short-term bond		4,251		—		—		4,251
Money market fund		218		—		—		218
		4,469		—		—		4,469
	$	195,531	$	90,681	$	—	$	286,212

Schedule of Carrying Amount and Fair Value Measured on Nonrecurring Basis of Financial Instruments

The carrying amount and fair value, measured on a nonrecurring basis, of the Company’s financial instruments were as follows:

	June 30, 2018					December 31, 2017
	Carrying					Carrying
	value		Fair value		Level	value		Fair value		Level
Assets
Investments held by SPEs:
Time deposit	$	200,000	$	200,000	3	$	200,000	$	200,000	3
U.S. Treasury securities and cash equivalents	$	7,664	$	7,304	1	$	7,989	$	7,797	1
Liabilities
Senior Notes held by SPE	$	176,655	$	190,282	3	$	176,537	$	198,530	3