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

6 Months Ended

Jun. 30, 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 June 30, 2020, December 31, 2019 and June 30, 2019 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands).

	June 30,		December 31,		June 30,
	2020		2019		2019
Cash and cash equivalents	$	670,292	$	745,491	$	531,698
Restricted cash included within prepaid and other current assets	5,906		10,526		11,465
Restricted cash included within other non-current assets	1,081		1,081		—
Total cash, cash equivalents and restricted cash	$	677,279	$	757,098	$	543,163

Schedule of restricted cash and cash equivalents

The following table provides a reconciliation of total cash, cash equivalents and restricted cash as of June 30, 2020, December 31, 2019 and June 30, 2019 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands).

	June 30,		December 31,		June 30,
	2020		2019		2019
Cash and cash equivalents	$	670,292	$	745,491	$	531,698
Restricted cash included within prepaid and other current assets	5,906		10,526		11,465
Restricted cash included within other non-current assets	1,081		1,081		—
Total cash, cash equivalents and restricted cash	$	677,279	$	757,098	$	543,163

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 June 30, 2020 and December 31, 2019 (in thousands):

	Fair Value as of June 30, 2020
	Level 1		Level 2		Level 3		Total
Assets:
Money market and demand accounts (a)	$	677,279	$	—	$	—	$	677,279
Commercial paper (b)	—		26,296		—		26,296
U.S. government securities	—		53,047		—		53,047
Corporate bonds, asset backed and other securities	—		89,609		—		89,609
Total	$	677,279	$	168,952	$	—	$	846,231

	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 June 30, 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 principal amount of the senior convertible long-term debt is a Level 2 fair value measurement.

	June 30, 2020						December 31, 2019
	Principal Amount		Carrying Value		Fair Value		Principal Amount		Carrying Value		Fair Value
Senior Convertible Long-Term Debt	$	400,000	$	336,544	$	396,240	$	494,909	$	423,657	$	492,969

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

	June 30, 2020				December 31, 2019
	Carrying Value		Fair Value		Carrying Value		Fair Value
Technicolor Patent Acquisition Long-Term Debt	$	22,576	$	26,241	$	21,101	$	23,305