FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2018

Sep. 30, 2017

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

Fair Value, Assets and Liabilities, Reconciliation of Level 3 Inputs

The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements for the three and nine months ended September 30, 2018 and 2017 (in thousands):



	Three Months Ended September 30,						Nine Months Ended September 30,
	2018			2017			2018			2017
Assets
Fair value option investments:
Beginning Balance	$	74,898		$	81,439		$	82,966		$	82,584
Total gains (losses) included in earnings	(244		)	(3,955		)	(8,312		)	(5,100		)
Ending Balance	$	74,654		$	77,484		$	74,654		$	77,484
Unrealized gains (losses) still held ⁽¹⁾	$	(244	)	$	(3,955	)	$	(8,312	)	$	(5,100	)
Available-for-sale securities
Convertible debt securities:
Beginning Balance	$	10,236		$	10,868		$	11,354		$	10,038
Purchase of convertible debt security	—			—			—			1,612
Proceeds from sales and maturities of convertible debt security	(8,594		)	—			(8,594		)	(1,843		)
Transfer to other equity investment upon conversion of convertible debt security	(1,500		)	—			(4,008		)	—
Total gains (losses) included in other comprehensive income (loss)	(106		)	146			(1,148		)	(387		)
Total gains (losses) included in earnings ⁽²⁾	(36		)	218			2,396			1,812
Ending Balance	$	—		$	11,232		$	—		$	11,232
Unrealized gains (losses) still held ⁽¹⁾	$	—		$	364		$	—		$	1,180
Redeemable preferred shares:
Beginning Balance	$	9,961		$	15,923		$	15,431		$	17,444
Total gains (losses) included in other comprehensive income (loss)	246			(371		)	246			(1,892		)
Impairments included in earnings	—			—			(5,470		)	—
Ending Balance	$	10,207		$	15,552		$	10,207		$	15,552
Unrealized (losses) gains still held ⁽¹⁾	$	246		$	(371	)	$	(5,224	)	$	(1,892	)

Liabilities
Contingent Consideration:
Beginning Balance	$	1,542		$	—		$	—		$	14,588
Issuance of contingent consideration in connection with acquisition	—			—			1,589			—
Settlements of contingent consideration liabilities	—			—			—			(7,858		)
Reclass to non-fair value liabilities when no longer contingent	—			—			—			(6,778		)
Total losses (gains) included in earnings	21			—			35			48
Foreign currency translation	(20		)	—			(81		)	—
Ending Balance	$	1,543		$	—		$	1,543		$	—
Unrealized losses (gains) still held⁽¹⁾	$	21		$	—		$	35		$	—

Fair Value of Financial Assets and Liabilities not Measured at Fair Value

The following table presents the carrying amount and fair value of equity securities that were classified as cost method investments as of December 31, 2017 (in thousands):



	December 31, 2017
	Carrying Amount		Fair Value
Cost method investments ⁽¹⁾	$	25,438	$	32,792


(1)	See Note 2, Adoption of New Accounting Standards, and Note 6, Investments, for information about our adoption of ASU 2016-01 on January 1, 2018 and its impact on accounting for equity investments without readily determinable fair values that were previously subject to the cost method of accounting.