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Investments in Privately-Held Companies
9 Months Ended
Sep. 30, 2020
Investments, All Other Investments [Abstract]  
INVESTMENTS IN PRIVATELY-HELD COMPANIES INVESTMENTS IN PRIVATELY HELD COMPANIESOur investments in the equity securities of privately held companies without readily determinable fair values totaled $1.0 million and $5.3 million as of September 30, 2020 and December 31, 2019, respectively. These investments are accounted for at cost, adjusted for changes in observable prices minus impairment. We own less than 20% of the voting securities in each of these investments and do not have the ability to exercise significant influence over operating and financial policies of the respective entities. These investments are recorded as Other assets in our condensed consolidated balance sheets and would be measured at fair value if indicators of an increase in value or impairment existed. In the first quarter of 2020 and in the third quarter of 2019, we recognized non-cash impairment charges of $4.3 million and $3.8 million in Other expense—net in our condensed consolidated statements of income, respectively. Cumulative impairment adjustments to all equity securities without readily determinable fair values totaled $8.1 million since their respective acquisitions through September 30, 2020. As of September 30, 2020, no other events have occurred that would affect the carrying value of these investments.