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Marketable Securities
 12 Months Ended
Dec. 31, 2018
Marketable Securities [Abstract]  
Marketable Securities
  MARKETABLE SECURITIES
    
As a result of the passage of the 2017 Tax Act during the fourth quarter of 2017, we liquidated our marketable securities held outside the U.S. during the first quarter of 2018 and recognized a loss of approximately $0.3 million. We repatriated these funds and reduced our revolving debt balance during the first quarter of 2018.

Purchased marketable debt securities were classified as available-for-sale and carried at fair value in the accompanying consolidated balance sheets on a trade date basis. We had classified our investments with maturities beyond one year as short-term, based on their highly liquid nature and because such marketable securities represent the investment of cash that is available for current operations. Unrealized holding gains and losses were deferred within accumulated other comprehensive income (“AOCI”), net of applicable taxes, except when an impairment is determined to be other-than-temporary or the security is divested prior to maturity. Within the accompanying consolidated statements of operations, interest earned and amortization of premiums or discounts on marketable securities were included in interest income, and realized gains and losses on the sale of our marketable securities were included in other income.  


The amortized cost and fair value of marketable securities as of December 31, 2017, were as follows (in thousands):
As of December 31, 2017
 
Amortized Cost

 
Gross Unrealized Gains

 
Gross Unrealized Losses

 
Fair Value


 
 

 
 

 
 

 
 
Corporate bonds
 
$
140,969

 
$
96

 
$
(179
)
 
$
140,886

Certificates of deposit
 
58,510

 
—

 
—

 
58,510

Commercial paper
 
29,171

 
—

 
—

 
29,171

Asset backed securities
 
22,206

 
4

 
(43
)
 
22,167

U.S. government bonds
 
15,619

 
11

 
(19
)
 
15,611

Agency bonds
 
10,990

 
9

 
(52
)
 
10,947

Treasury bills
 
6,964

 
—

 
(1
)
 
6,963

Total marketable securities
 
$
284,429

 
$
120

 
$
(294
)
 
$
284,255


    
As of December 31, 2017, we held marketable securities with effective maturities of two years or less that had an average AA- credit rating.