FINANCIAL INSTRUMENTS (Tables)

12 Months Ended

Dec. 31, 2018

Schedule of Fair Value of Marketable Securities

At December 31, 2018 and 2017, the fair value of marketable securities are as follows:



	December 31,
	2018		2017
	(In thousands)
Available-for-sale marketable debt securities	$	123,246	$	4,995
Marketable equity security	419		—
Total marketable securities	$	123,665	$	4,995

Schedule of Current Available-for-sale Marketable Securities

At December 31, 2017, current available-for-sale marketable debt securities are as follows:



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Commercial paper	$	4,995	$	—	$	—	$	4,995
Total available-for-sale marketable debt securities	$	4,995	$	—	$	—	$	4,995

At December 31, 2018, current available-for-sale marketable debt securities are as follows:



	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Treasury discount notes	$	112,291	$	3	$	(3	)	$	112,291
Commercial paper	10,955		—		—			10,955
Total available-for-sale marketable debt securities	$	123,246	$	3	$	(3	)	$	123,246

Schedule of Proceeds from Maturities and Sales of Current Available-for-sale Marketable Securities

The following table presents the proceeds from maturities and sales of available-for-sale marketable debt securities and the related gross realized gains:



	December 31,
	2018		2017		2016
	(In thousands)
Proceeds from maturities and sales of available-for-sale marketable debt securities	$	333,600	$	114,350	$	279,485
Gross realized gains	—		—		3,556

Schedule of Long-term Investments

Long-term investments consist of:



	December 31,
	2018		2017
	(In thousands)
Equity securities without readily determinable fair values	$	235,055	$	—
Equity method investments	—		1,559
Cost method investments	—		63,418
Total long-term investments	$	235,055	$	64,977

Schedule of Realized and Unrealized Gains (Losses) on Investments

The following table presents a summary of realized and unrealized gains and losses recorded in other income (expense), net, as adjustments to the carrying value of equity securities without readily determinable fair values held as of December 31, 2018. The gross unrealized gains principally relate to the Company's remaining investments in an investee following the sale of a portion of the Company's investment during the second quarter of 2018.



	Year Ended December 31, 2018
	(In thousands)
Upward adjustments (gross unrealized gains)	$	128,986
Downward adjustments including impairments (gross unrealized losses)	(4,931		)
Total	$	124,055

Realized and unrealized gains and losses for the Company's marketable equity security and investments without readily determinable fair values for the year ended December 31, 2018 are as follows:



	Year Ended December 31, 2018
	(In thousands)
Realized gains, net, for equity securities sold	$	27,874
Unrealized gains, net, on equity securities held	124,170
Total gains recognized, net, in other income (expense), net	$	152,044

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis

The following tables present the Company's financial instruments that are measured at fair value on a recurring basis:



	December 31, 2018
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	880,815	$	—	$	—		$	880,815
Treasury discount notes	—		561,733		—			561,733
Commercial paper	—		162,417		—			162,417
Time deposits	—		90,036		—			90,036
Marketable securities:
Treasury discount notes	—		112,291		—			112,291
Commercial paper	—		10,955		—			10,955
Marketable equity security	419		—		—			419
Total	$	881,234	$	937,432	$	—		$	1,818,666

Liabilities:
Contingent consideration arrangements	$	—	$	—	$	(28,631	)	$	(28,631	)



	December 31, 2017
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	780,425	$	—	$	—		$	780,425
Commercial paper	—		215,325		—			215,325
Treasury discount notes	—		100,457		—			100,457
Time deposits	—		60,000		—			60,000
Certificates of deposit	—		6,195		—			6,195
Marketable securities:
Commercial paper	—		4,995		—			4,995
Total	$	780,425	$	386,972	$	—		$	1,167,397

Liabilities:
Contingent consideration arrangements	$	—	$	—	$	(2,647	)	$	(2,647	)

Schedule of Unobservable Inputs in Fair Value Measurement

The Company's financial instruments that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3) are its contingent consideration arrangements.



	Contingent Consideration Arrangements
	Years Ended December 31,
	2018			2017
	(In thousands)
Balance at January 1	$	(2,647	)	$	(33,871	)
Total net (losses) gains:
Included in earnings:
Fair value adjustments	(1,456		)	(5,801		)
Included in other comprehensive income (loss)	45			(1,404		)
Fair value at date of acquisition	(25,521		)	—
Settlements	948			38,429
Balance at December 31	$	(28,631	)	$	(2,647	)

Schedule of Carrying Value and the Fair Value of Financial Instruments Measured at Fair Value Only for Disclosure Purposes

The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes:



	December 31, 2018						December 31, 2017
	Carrying Value			Fair Value			Carrying Value			Fair Value
	(In thousands)
Current portion of long-term debt	$	(13,750	)	$	(12,753	)	$	(13,750	)	$	(13,802	)
Long-term debt, net^(a)	(2,245,548		)	(2,460,204		)	(1,979,469		)	(2,168,108		)

_________________


^(a)	At December 31, 2018 and 2017, the carrying value of long-term debt, net includes unamortized original issue discount and debt issuance costs of $88.9 million and $109.1 million, respectively.