INVESTMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Schedule of Equity Method Investments [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize assets that are measured at fair value on a recurring basis as of September 30, 2018 and December 31, 2017 (in thousands):



			Fair Value Measurement at Reporting Date Using
	September 30, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Fair value option investments	$	74,654	$	—	$	—	$	74,654
Available-for-sale securities:
Redeemable preferred shares	10,207		—		—		10,207

Liabilities:
Contingent consideration	1,543		—		—		1,543



			Fair Value Measurement at Reporting Date Using
	December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents	$	137,975	$	137,975	$	—	$	—
Fair value option investments	82,966		—		—		82,966
Available-for-sale securities:
Convertible debt securities	11,354		—		—		11,354
Redeemable preferred shares	15,431		—		—		15,431

Summary of Investments

The following table summarizes investments as of September 30, 2018 and December 31, 2017 (dollars in thousands):



	September 30, 2018		Percent Ownership of Voting Stock			December 31, 2017		Percent Ownership of Voting Stock
Available-for-sale securities:
Convertible debt securities	$	—				$	11,354
Redeemable preferred shares	10,207		19%	to	25%	15,431		19%	to	25%
Total available-for-sale securities	10,207					26,785
Fair value option investments	74,654		10%	to	19%	82,966		10%	to	19%
Other equity investments ⁽¹⁾	24,445		1%	to	19%	25,438		1%	to	19%
Total investments	$	109,306				$	135,189

(1)

Represents equity investments without readily determinable fair values. Those investments were previously accounted for using the cost method of accounting. Under the cost method, investments were carried at cost and adjusted only for other-than-temporary declines in fair value, certain distributions and additional investments. We adopted the guidance in ASU 2016-01 on January 1, 2018. Under that guidance, we have elected to record equity investments without readily determinable fair values at cost adjusted for observable price changes and impairments. There were no adjustments for observable price changes related to these investments for the three and nine months ended September 30, 2018. See further discussion under Impairments of Investments below.

Schedule of Activity for Available For Sale Securities

The following table summarizes amortized cost, gross unrealized gain, gross unrealized loss and fair value of available-for-sale securities as of September 30, 2018 and December 31, 2017 (in thousands):



	September 30, 2018								December 31, 2017
	Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss		Fair Value		Amortized Cost		Gross Unrealized Gain		Gross Unrealized Loss ⁽¹⁾			Fair Value
Available-for-sale securities:
Convertible debt securities	$	—	$	—	$	—	$	—	$	10,205	$	1,653	$	(504	)	$	11,354
Redeemable preferred shares	9,961		246		—		10,207		15,431		—		—			15,431
Total available-for-sale securities	$	9,961	$	246	$	—	$	10,207	$	25,636	$	1,653	$	(504	)	$	26,785