FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2017

Financial Liabilities Measured at Fair Value on a Recurring Basis

The following table shows the fair values of the Company’s financial liabilities measured at fair value on a recurring basis as of December 31, 2016:



	As of December 31, 2016
	Balance		Level 1		Level 2		Level 3
Performance-based equity awards	$	3,789	$	3,789	$	—	$	—
Total financial liabilities measured at fair value on a recurring basis	$	3,789	$	3,789	$	—	$	—

Reconciliation of Liabilities Measured on Recurring Basis, Unobservable Input

A reconciliation of the beginning and ending balances of acquisition-related contractual contingent liabilities using significant unobservable inputs (Level 3) for the years ended December 31, 2016 and 2015, is as follows:



	Amount
Contractual contingent liabilities at January 1, 2015	$	40,623
Liability-classified stock-based awards	5,148
Changes in fair value of contractual contingent liabilities included in earnings	4,355
Effect of net foreign currency exchange rate changes	246
Settlements of contractual contingent liabilities	(45,008		)
Contractual contingent liabilities at December 31, 2015	5,364
Acquisition date fair value of contractual contingent liabilities — other acquisitions	800
Liability-classified stock-based awards	5,148
Changes in fair value of contractual contingent liabilities included in earnings	1,232
Changes in fair value of contractual contingent liabilities recorded against goodwill	200
Settlements of contractual contingent liabilities	(8,955		)
Reclassification of contractual contingent liabilities out of Level 3	(3,789		)
Contractual contingent liabilities at December 31, 2016	$	—

There was no activity in contractual contingent liabilities during the year ended December 31, 2017.

Reported Amounts and Estimated Fair Values of the Financial Assets and Liabilities Requiring Fair Value Disclosure

The following tables present the reported amounts and estimated fair values of the financial assets and liabilities for which disclosure of fair value is required, as they would be categorized within the fair value hierarchy, as of the dates indicated:



					Fair Value Hierarchy
	Balance		Estimated Fair Value		Level 1		Level 2		Level 3
December 31, 2017
Financial Assets:
Cash and cash equivalents	$	582,585	$	582,585	$	582,585	$	—	$	—
Time deposits and restricted cash	$	673	$	673	$	—	$	673	$	—
Employee loans	$	4,210	$	4,210	$	—	$	—	$	4,210
Financial Liabilities:
Borrowings under 2017 Credit Facility	$	25,009	$	25,009	$	—	$	25,009	$	—



					Fair Value Hierarchy
	Balance		Estimated Fair Value		Level 1		Level 2		Level 3
December 31, 2016
Financial Assets:
Cash and cash equivalents	$	362,025	$	362,025	$	362,025	$	—	$	—
Time deposits and restricted cash	$	3,042	$	3,042	$	—	$	3,042	$	—
Employee loans	$	5,978	$	5,978	$	—	$	—	$	5,978
Financial Liabilities:
Borrowings under 2014 Credit Facility	$	25,019	$	25,019	$	—	$	25,019	$	—