Marketable Securities and Equity Investments (Tables)

6 Months Ended

Jun. 30, 2019

Cash and Cash Equivalents [Abstract]

Summary of cash equivalents and marketable securities

A summary of the Company’s cash equivalents and marketable securities, which are recorded at fair value (and do not include $1.7 billion and $1.4 billion of cash as of June 30, 2019 and December 31, 2018, respectively), is shown below:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(in thousands)
As of June 30, 2019
Cash equivalents:
Money market funds	$	1,561,770	$	—	$	—		$	1,561,770
Government-sponsored enterprise securities	24,518		2		(1		)	24,519
Commercial paper	22,233		2		(1		)	22,234
Total cash equivalents	1,608,521		4		(2		)	1,608,523
Marketable securities:
U.S. Treasury securities	5,891		1		—			5,892
Government-sponsored enterprise securities	8,240		7		—			8,247
Corporate debt securities	249,076		373		(23		)	249,426
Commercial paper	125,421		174		(23		)	125,572
Total marketable debt securities	388,628		555		(46		)	389,137
Corporate equity securities	133,157		140,328		(6,084		)	267,401
Total marketable securities	$	521,785	$	140,883	$	(6,130	)	$	656,538
As of December 31, 2018
Cash equivalents:
Money market funds	$	1,226,603	$	—	$	—		$	1,226,603
U.S. Treasury securities	5,967		—		(1		)	5,966
Government-sponsored enterprise securities	7,124		—		(1		)	7,123
Commercial paper	58,271		—		(3		)	58,268
Total cash equivalents	1,297,965		—		(5		)	1,297,960
Marketable securities:
U.S. Treasury securities	6,026		—		—			6,026
Government-sponsored enterprise securities	10,704		—		—			10,704
Corporate debt securities	234,088		27		(450		)	233,665
Commercial paper	100,498		—		(108		)	100,390
Total marketable debt securities	351,316		27		(558		)	350,785
Corporate equity securities	133,157		40,619		(6,453		)	167,323
Total marketable securities	$	484,473	$	40,646	$	(7,011	)	$	518,108

Available-for-sale debt securities were recorded in the Company's condensed consolidated balance sheets at fair value as follows:

	As of June 30, 2019		As of December 31, 2018
	(in thousands)
Cash and cash equivalents	$	1,608,523	$	1,297,960
Marketable securities	389,137		350,785
Total	$	1,997,660	$	1,648,745

Available-for-sale debt securities by contractual maturity were as follows:

	As of June 30, 2019		As of December 31, 2018
	(in thousands)
Matures within one year	$	1,968,686	$	1,647,500
Matures after one year through five years	28,974		1,245
Total	$	1,997,660	$	1,648,745