Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2020

Schedule Of Fair Values Of Financial Instruments Measured On Recurring Basis

The following tables present the fair values of the Company’s financial assets or liabilities that are measured at fair value on a recurring basis (in thousands):


June 30, 2020	Level 1		Level 2		Level 3		Fair Value
Assets:
Cash equivalents:
Money market and other funds	$	383,236	$	—	$	—	$	383,236









Corporate debt securities	—		643		—		643
Total assets measured at fair value	$	383,236	$	643	$	—	$	383,879

Liabilities:
Contingent consideration	$	—	$	—	$	8,122	$	8,122
Total liabilities measured at fair value	$	—	$	—	$	8,122	$	8,122

December 31, 2019	Level 1		Level 2		Level 3		Fair Value
Assets:
Cash equivalents:
Money market and other funds	$	395,664	$	—	$	—	$	395,664








Corporate debt securities	—		623		22,047		22,670
Total assets measured at fair value	$	395,664	$	623	$	22,047	$	418,334

Liabilities:
Contingent consideration	$	—	$	—	$	37,887	$	37,887
Total liabilities measured at fair value	$	—	$	—	$	37,887	$	37,887

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table presents a reconciliation of the Company’s Level 3 financial liabilities related to contingent consideration that are measured at fair value on a recurring basis (in thousands):


	Level 3		Affected line item in the Statement of Operations
Balance as of January 1, 2020	$	37,887
Contingent consideration	5,078
Total fair value adjustments reported in earnings	(232)		General and administrative
Contingent consideration payments	(34,611)		Not applicable
Balance as of June 30, 2020	$	8,122

Fair Value Measurement Inputs and Valuation Techniques

The following table presents the fair values, valuation techniques, unobservable inputs, and ranges of the Company’s financial liabilities categorized within Level 3.


	Valuation Technique	Unobservable Input	Range	Weighted Average
Contingent Consideration	Option-Based Model	Risk free rate	1.9% - 2.9%	2.0	%
		Debt spread	0.0% - 136.0%	52.4	%
		Probabilities	5.0% - 100.0%	71.1	%
		Present value factor	3.6% - 4.8%	3.6	%
		Discount rate	28.6% - 42.0%	31.2	%