Concentration of Credit Risk and Fair Value of Financial Assets and Financial Liabilities (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities at Fair Value on Recurring Basis

Our financial assets and liabilities that are accounted for at fair value on a recurring basis are presented in the tables below as of December 31, 2019 and December 31, 2018 (in thousands):

	Fair Value as of December 31, 2019
	Level 1		Level 2		Level 3		Total
Assets:
Money market and demand accounts (a)	$	757,098	$	—	$	—	$	757,098
U.S. government securities	—		105,702		—		105,702
Corporate bonds, asset backed and other securities	—		73,502		—		73,502
	$	757,098	$	179,204	$	—	$	936,302

	Fair Value as of December 31, 2018
	Level 1		Level 2		Level 3		Total
Assets:
Money market and demand accounts (a)	$	488,733	$	—	$	—	$	488,733
Commercial paper	—		14,548		—		14,548
U.S. government securities	—		289,576		—		289,576
Corporate bonds and asset backed securities	—		166,600		—		166,600
	$	488,733	$	470,724	$	—	$	959,457
Liabilities:
Contingent consideration resulting from the Technicolor Patent Acquisition	$	—	$	—	$	19,800	$	19,800
	$	—	$	—	$	19,800	$	19,800

_______________

(a)

Included within cash and cash equivalents

Significant Unobservable Inputs

Level 3 significant unobservable inputs used in the December 31, 2018 valuation of the contingent consideration liability included the following:

Significant Unobservable Input	Ranges	Weighted Average
Risk-adjusted discount rate for revenue	13.5% - 14.2%	13.9%
Credit risk discount rate	6.2% - 8.0%	7.1%
Revenue volatility	35.0%	35.0%
Projected years of earn out	2019 - 2030	N/A

Schedule of Contingent Consideration Liability

The Level 3 contingent consideration liability was historically included within "Other long-term liabilities" in the consolidated balance sheet prior to its derecognition in second quarter 2019.

Level 3 Fair Value Measurements	Contingent Consideration Liability
Balance as of December 31, 2018	$	19,800
Changes in fair value recognized in the consolidated statements of income		710
Derecognition of contingent consideration liability as a Level 3 fair value measurement		(20,510	)
Balance as of December 31, 2019	$	—

Schedule of Aggregate Fair Value

The aggregate fair value of the Technicolor Patent Acquisition long-term debt is a Level 3 fair value measurement.

	December 31, 2019				December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Technicolor Patent Acquisition Long-Term Debt	$	21,101	$	23,305	$	18,428	$	19,100

The aggregate fair value of the principal amount of the senior convertible long-term debt is a Level 2 fair value measurement.

	December 31, 2019						December 31, 2018
	Principal Amount		Carrying Value		Fair Value		Principal Amount		Carrying Value		Fair Value
Senior Convertible Long-Term Debt	$	494,909	$	423,657	$	492,969	$	316,000	$	298,951	$	331,595