OTHER CONSOLIDATED BALANCE SHEET COMPONENTS (NON-CURRENT) (Tables)

3 Months Ended

Mar. 31, 2021

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Schedule of Other Non-Current Assets

The following table presents the detail of other non-current assets (in thousands):

	March 31, 2021		December 31, 2020
Investment in non-marketable equity securities (i)	$	54,980	$	32,510
Investment in marketable equity security (ii)	—		376,258
Investment in bitcoin, net (iii)	200,140		50,000
Restricted cash	63,509		13,526
Other	33,427		26,956
Total	$	352,056	$	499,250

(i) Investment in non-marketable equity securities represents the Company's investments in equity of non-public entities. These investments are measured using the measurement alternative and are therefore carried at cost, less impairment, adjusted for observable price changes.

(ii) As of March 31, 2021, the fair value of the Company's investment in DoorDash was reclassified to other current assets.

(iii) The Company invested $50.0 million and $170.0 million in bitcoin in the fourth quarter of 2020 and the first quarter of 2021, respectively. Bitcoin is accounted for as an indefinite lived intangible asset, and thus, is subject to impairment losses if the fair value of bitcoin decreases below the carrying value during the assessed period. Impairment losses cannot be recovered for any subsequent increase in fair value until the sale of the asset. The Company recorded an impairment charge of $19.9 million in the three months ended March 31, 2021 due to the observed market price of bitcoin decreasing below the carrying value during the period. As of March 31, 2021, the fair value of the investment in bitcoin was $472.0 million based on observable market prices which is $271.9 million in excess of the Company's carrying value of $200.1 million.

Schedule of Other Non-Current Liabilities

The following table presents the detail of other non-current liabilities (in thousands):

	March 31, 2021		December 31, 2020
Statutory liabilities (i)	$	84,298	$	75,370
Other	8,376		9,921
Total	$	92,674	$	85,291

(i) Statutory liabilities represent loss contingencies that may arise from the Company's interpretation and application of certain guidelines and rules issued by various federal, state, local, and foreign regulatory authorities.