Cash, Concentration of Credit Risk and Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Schedule of cash and cash equivalents

The following table provides a reconciliation of total cash, cash equivalents and restricted cash as of March 31, 2020, December 31, 2019 and March 31, 2019 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands).

	March 31,		December 31,		March 31,
	2020		2019		2019
Cash and cash equivalents	$	515,793	$	745,491	$	503,240
Restricted cash included within prepaid and other current assets	12,851		10,526		13,372
Restricted cash included within other non-current assets	1,081		1,081		—
Total cash, cash equivalents and restricted cash	$	529,725	$	757,098	$	516,612

Schedule of restricted cash and cash equivalents

The following table provides a reconciliation of total cash, cash equivalents and restricted cash as of March 31, 2020, December 31, 2019 and March 31, 2019 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands).

	March 31,		December 31,		March 31,
	2020		2019		2019
Cash and cash equivalents	$	515,793	$	745,491	$	503,240
Restricted cash included within prepaid and other current assets	12,851		10,526		13,372
Restricted cash included within other non-current assets	1,081		1,081		—
Total cash, cash equivalents and restricted cash	$	529,725	$	757,098	$	516,612

Schedule of fair value on a 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 March 31, 2020 and December 31, 2019 (in thousands):

	Fair Value as of March 31, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Money market and demand accounts (a)	$	519,725	$	—	$	—	$	519,725
Commercial paper (b)	—		88,125		—		88,125
U.S. government securities	—		86,189		—		86,189
Corporate bonds, asset backed and other securities	—		100,793		—		100,793
Total	$	519,725	$	275,107	$	—	$	794,832

	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
Commercial paper (b)	—		—		—		—
U.S. government securities	—		105,702		—		105,702
Corporate bonds, asset backed and other securities	—		73,502		—		73,502
Total	$	757,098	$	179,204	$	—	$	936,302

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(a) Primarily included within cash and cash equivalents.

(b)

As of March 31, 2020 and December 31, 2019, zero commercial paper was included within cash and cash equivalents.

Schedule of aggregate fair value

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

	March 31, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Technicolor Patent Acquisition Long-Term Debt	$	21,826	$	24,261	$	21,101	$	23,305

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

	March 31, 2020						December 31, 2019
	Principal Amount		Carrying Value		Fair Value		Principal Amount		Carrying Value		Fair Value
Senior Convertible Long-Term Debt	$	400,000	$	332,997	$	366,760	$	494,909	$	423,657	$	492,969