Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements, Recurring and Nonrecurring

Liabilities Measured at Fair Value on a Recurring Basis as of June 30, 2018

	Quoted Prices in Active  Markets for Identical Assets (Level 1)		Significant Other Observable  Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)		Balance as of June 30, 2018
	(in thousands, unaudited)
Liabilities
Contingent obligation due selling unitholders of Cogent	$	—	$	—	$	17,354	$	17,354
Total	$	—	$	—	$	17,354	$	17,354

Liabilities Measured at Fair Value on a Recurring Basis as of December 31, 2017

	Quoted Prices in Active  Markets for Identical Assets (Level 1)		Significant Other Observable  Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)		Balance as of December 31, 2017
	(in thousands)
Liabilities
Contingent obligation due selling unitholders of Cogent	$	—	$	—	$	13,763	$	13,763
Total	$	—	$	—	$	13,763	$	13,763

Assets Measured at Fair Value on a Recurring Basis as of June 30, 2018

	Quoted Prices in Active  Markets for Identical Assets (Level 1)		Significant Other Observable  Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)		Balance as of June 30, 2018
	(in thousands, unaudited)
Assets
Cash and cash equivalents	$	41,769	$	—	$	—	$	41,769
Total	$	41,769	$	—	$	—	$	41,769

Assets Measured at Fair Value on a Recurring Basis as of December 31, 2017

	Quoted Prices in Active  Markets for Identical Assets (Level 1)		Significant Other Observable  Inputs (Level 2)		Significant Unobservable  Inputs (Level 3)		Balance as of December 31, 2017
	(in thousands)
Assets
Cash and cash equivalents	$	193,315	$	—	$	—	$	193,315
Total	$	193,315	$	—	$	—	$	193,315

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation

Changes in Level 3 liabilities measured at fair value on a recurring basis for the three and six month periods ended June 30, 2018 are as follows:

	Opening Balance as of April 1, 2018		Total realized and unrealized gains (losses) included in Net Income			Unrealized gains (losses) included in Other Comprehen-sive Income		Purchases		Issues		Sales		Settlements		Closing Balance as of June 30, 2018		Unrealized gains (losses) for Level 3 liabilities outstanding at June 30, 2018
	(in thousands, unaudited)
Liabilities
Contingent obligation due selling unitholders of Cogent	$	14,673	$	(2,681	)	$	—	$	—	$	—	$	—	$	—	$	17,354	$	(2,681	)
Total	$	14,673	$	(2,681	)	$	—	$	—	$	—	$	—	$	—	$	17,354	$	(2,681	)

	Opening Balance as of January 1, 2018		Total realized and unrealized gains (losses) included in Net Income			Unrealized gains (losses) included in Other Comprehen-sive Income		Purchases		Issues		Sales		Settlements		Closing Balance as of June 30, 2018		Unrealized gains (losses) for Level 3 liabilities outstanding at June 30, 2018
	(in thousands, unaudited)
Liabilities
Contingent obligation due selling unitholders of Cogent	$	13,763	$	(3,591	)	$	—	$	—	$	—	$	—	$	—	$	17,354	$	(3,591	)
Total	$	13,763	$	(3,591	)	$	—	$	—	$	—	$	—	$	—	$	17,354	$	(3,591	)

Changes in Level 3 liabilities measured at fair value on a recurring basis for the three and six month periods ended June 30, 2017 are as follows:

	Opening Balance as of April 1, 2017		Total realized and unrealized gains (losses) included in Net Income		Unrealized gains (losses) included in Other Comprehen-sive Income		Purchases		Issues		Sales		Settlements		Closing Balance as of June 30, 2017		Unrealized gains (losses) for Level 3 liabilities outstanding at June 30, 2017
	(in thousands, unaudited)
Liabilities
Contingent obligation due to selling unitholders of Cogent	$	9,090	$	1,508	$	—	$	—	$	—	$	—	$	—	$	7,582	$	1,508
Total	$	9,090	$	1,508	$	—	$	—	$	—	$	—	$	—	$	7,582	$	1,508

	Opening Balance as of January 1, 2017		Total realized and unrealized gains (losses) included in Net Income		Unrealized gains (losses) included in Other Comprehen-sive Income		Purchases		Issues		Sales		Settlements		Closing Balance as of June 30, 2017		Unrealized gains (losses) for Level 3 liabilities outstanding at June 30, 2017
	(in thousands, unaudited)
Liabilities
Contingent obligation due to selling unitholders of Cogent	$	15,095	$	7,513	$	—	$	—	$	—	$	—	$	—	$	7,582	$	7,513
Total	$	15,095	$	7,513	$	—	$	—	$	—	$	—	$	—	$	7,582	$	7,513

Fair Value Inputs, Liabilities, Quantitative Information

The following table presents quantitative information about the significant unobservable inputs utilized by the Company in the fair value measure of Level 3 liabilities measured at fair value on a recurring basis, as of June 30, 2018:

	Fair Value as of June 30, 2018		Valuation Technique(s)	Unobservable  Input(s)		Range (Weighted Average)
	(in thousands, unaudited)
Liabilities
Contingent obligation due selling unitholders of Cogent	$	17,354	Present value of expected payments	Discount rate		11.8	%
				Forecast revenue	(a)

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(a) The Company's estimate of contingent consideration as of June 30, 2018 was principally based on the acquired business' actual and projected revenue generation from April 1, 2017 through March 31, 2019.