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FAIR VALUE MEASUREMENTS (Tables)
 3 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Schedule of Investments by Significant Category Included in Cash Equivalents
Investments by significant category included in cash equivalents at the end of each period were as follows (in thousands):
 March 31, 2020December 31, 2019
 
Fair Value Level1
Adjusted CostGross Unrealized LossesFair ValueAdjusted CostGross Unrealized LossesFair Value
Money market fundsLevel 1$1,017  $—  $1,017  $11,659  $—  $11,659  
Time depositsLevel 214,860  —  14,860  13,544  —  13,544  
Municipal debt securitiesLevel 214,059  (7) 14,052  347  —  347  
Corporate debt securitiesLevel 251,895  (99) 51,796  56,784  (19) 56,765  
Total investments$81,831  $(106) $81,725  $82,334  $(19) $82,315  

1 FASB Topic 820, Fair Value Measurements, establishes a fair value hierarchy that requires the use of observable market data, when available, and prioritizes the inputs to valuation techniques used to measure fair value in the following categories:
Level 1: Quoted market prices in active markets for identical assets or liabilities.
Level 2: Observable market-based inputs or unobservable inputs that are corroborated by market data.
Level 3: Unobservable inputs that are not corroborated by market data.