FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2019

Financial Assers and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the fair values of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of March 31, 2019 and December 31, 2018:



	As of March 31, 2019
	Balance		Level 1		Level 2		Level 3
Foreign exchange derivative assets	$	1,067	$	—	$	1,067	$	—
Total assets measured at fair value on a recurring basis	$	1,067	$	—	$	1,067	$	—

Foreign exchange derivative liabilities	$	362	$	—	$	362	$	—
Contingent consideration	7,625		—		—		7,625
Total liabilities measured at fair value on a recurring basis	$	7,987	$	—	$	362	$	7,625



	As of December 31, 2018
	Balance		Level 1		Level 2		Level 3
Foreign exchange derivative assets	$	181	$	—	$	181	$	—
Total assets measured at fair value on a recurring basis	$	181	$	—	$	181	$	—

Foreign exchange derivative liabilities	$	3,475	$	—	$	3,475	$	—
Contingent consideration	7,468		—		—		7,468
Total liabilities measured at fair value on a recurring basis	$	10,943	$	—	$	3,475	$	7,468

A reconciliation of the beginning and ending balances of acquisition-related contractual contingent liabilities using significant unobservable inputs (Level 3) for the three months ended March 31, 2019 is as follows:



	Amount
Contractual contingent liabilities as of January 1, 2019	$	7,468
Effect of net foreign currency exchange rate changes	157
Contractual contingent liabilities at March 31, 2019	$	7,625

Reported Amounts and Estimated Fair Values of the Financial Assets and Liabilities

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
March 31, 2019
Financial Assets:
Cash and cash equivalents	$	762,529	$	762,529	$	762,529	$	—	$	—
Restricted cash	$	1,149	$	1,149	$	1,149	$	—	$	—
Employee loans	$	3,121	$	3,121	$	—	$	—	$	3,121
Financial Liabilities:
Borrowings under the 2017 Credit Facility	$	25,017	$	25,017	$	—	$	25,017	$	—



					Fair Value Hierarchy
	Balance		Estimated Fair Value		Level 1		Level 2		Level 3
December 31, 2018
Financial Assets:
Cash and cash equivalents	$	770,560	$	770,560	$	770,560	$	—	$	—
Restricted cash	$	1,151	$	1,151	$	1,151	$	—	$	—
Employee loans	$	3,525	$	3,525	$	—	$	—	$	3,525
Financial Liabilities:
Borrowings under the 2017 Credit Facility	$	25,020	$	25,020	$	—	$	25,020	$	—