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Marketable Securities (Notes)
 3 Months Ended
Mar. 31, 2016
Investments, Debt and Equity Securities [Abstract]  
Marketable Securities
Marketable Securities
Marketable securities as of March 31, 2016 and December 31, 2015 consist of both debt securities of investment grade issuers as well as equity securities.
The following tables summarize the Company's investments in marketable securities:
 
 
Amortized
 
Unrealized
 
Fair
As of March 31, 2016
 
Cost Basis
 
Gains
 
Losses
 
Value
Corporate bonds
 
$
710,989

 
$
1,920

 
$
(879
)
 
$
712,030

U.S. government and government agency obligations
 
50,383

 
194

 
(2
)
 
50,575

Municipal bonds
 
16,113

 
45

 
(3
)
 
16,155

Equity securities
 
17,005

 
10,057

 
(5,647
)
 
21,415

 
 
$
794,490

 
$
12,216

 
$
(6,531
)
 
$
800,175

 
 
 
 
 
 
 
 
 
As of December 31, 2015
 
 
 
 
 
 
 
 
Corporate bonds
 
$
770,092

 
$
156

 
$
(2,565
)
 
$
767,683

U.S. government and government agency obligations
 
51,402

 
—

 
(193
)
 
51,209

Municipal bonds
 
17,930

 
5

 
(11
)
 
17,924

Equity securities
 
17,005

 
14,461

 
—

 
31,466

 
 
$
856,429

 
$
14,622

 
$
(2,769
)
 
$
868,282

The Company classifies its debt security investments based on their contractual maturity dates. The debt securities listed as of March 31, 2016 mature at various dates through August 2020. The fair values of debt security investments by contractual maturity consist of the following:
 
 
March 31, 2016
 
December 31, 2015
Maturities within one year
 
$
244,965

 
$
236,121

Maturities after one year through five years
 
533,795

 
600,695

 
 
$
778,760

 
$
836,816


The following table shows the fair value of the Company's marketable securities that have unrealized losses and that are deemed to be only temporarily impaired, aggregated by investment category and length of time that the individual securities have been in a continuous unrealized loss position.
 
Less than 12 Months
 
12 Months or Greater
 
Total
As of March 31, 2016
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Corporate bonds
$
132,085

 
$
(190
)
 
$
135,211

 
$
(689
)
 
$
267,296

 
$
(879
)
U.S. government and government agency obligations
7,822

 
(3
)
 
—

 
—

 
7,822

 
(3
)
Municipal bonds
2,571

 
(2
)
 
—

 
—

 
2,571

 
(2
)
Equity securities
9,353

 
(5,647
)
 
—

 
—

 
9,353

 
(5,647
)
 
$
151,831


$
(5,842
)
 
$
135,211

 
$
(689
)
 
$
287,042

 
$
(6,531
)
 
 
 
 
 
 
 
 
 
 
 
 
As of December 31, 2015
 
 
 
 
 
 
 
 
 
 
 
Corporate bonds
$
668,199

 
$
(2,473
)
 
$
23,749

 
$
(92
)
 
$
691,948

 
$
(2,565
)
U.S. government and government agency obligations
51,215

 
(193
)
 
—

 
—

 
51,215

 
(193
)
Municipal bonds
11,917

 
(11
)
 
—

 
—

 
11,917

 
(11
)
 
$
731,331

 
$
(2,677
)
 
$
23,749

 
$
(92
)
 
$
755,080

 
$
(2,769
)

There were no realized gains and losses on sales of marketable securities for the three months ended March 31, 2016, and such amounts were not material for the three months ended March 31, 2015.
Changes in the Company's accumulated other comprehensive income (loss) for the three months ended March 31, 2016 and 2015 related to unrealized gains and losses on available-for-sale marketable securities. For the three months ended March 31, 2015, amounts reclassified from accumulated other comprehensive income (loss) into investment income in the Company's Statements of Operations were related to realized gains and losses on sales of marketable securities; there were no such amounts reclassified during the three months ended March 31, 2016.