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FAIR VALUE MEASUREMENTS (Tables) | 6 Months Ended
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Jun. 30, 2021
FAIR VALUE MEASUREMENTS [Abstract] |
Fair Values of Assets and Liabilities | Assets and liabilities measured at fair value on a recurring basis are summarized below:
|  | Fair value measurement at December 31, 2020 |
|  | Quoted prices in active markets for identical assets (Level 1) $ |  |  | Significant other observable inputs (Level 2) $ |  |  | Unobservable inputs (Level 3) $ |  |  | Total $ |
Cash equivalents |  |  | 74,272 |  |  |  | – |  |  |  | – |  |  |  | 74,272 |
Held to maturity investments |  |  | 100,071 |  |  |  | – |  |  |  | 286 |  |  |  | 100,357 |
Available-for-sale investments |  |  | 5,688 |  |  |  | – |  |  |  | 21,357 |  |  |  | 27,045 |
Equity securities |  |  | 76,000 |  |  |  | – |  |  |  | – |  |  |  | 76,000 |
Other assets |  |  | – |  |  |  | – |  |  |  | 19,024 |  |  |  | 19,024 |
Share appreciation rights |  |  | (11,640 | ) |  |  | – |  |  |  | – |  |  |  | (11,640 | )
|  |  | 244,391 |  |  |  | – |  |  |  | 40,667 |  |  |  | 285,058 |
|  | Fair value measurement at June 30, 2021 |
|  | Quoted prices in active markets for identical assets (Level 1) $ |  |  | Significant other observable inputs (Level 2) $ |  |  | Unobservable inputs (Level 3) $ |  |  | Total $ |
Cash equivalents |  |  | 575,601 |  |  |  | – |  |  |  | – |  |  |  | 575,601 |
Held to maturity investments |  |  | 787,122 |  |  |  | – |  |  |  | 486 |  |  |  | 787,608 |
Available-for-sale investments |  |  | 49,017 |  |  |  | – |  |  |  | 164,459 |  |  |  | 213,476 |
Equity securities |  |  | 55,533 |  |  |  | – |  |  |  | – |  |  |  | 55,533 |
Investments carried at fair value |  |  | – |  |  |  | – |  |  |  | 21,992 |  |  |  | 21,992 |
Other assets |  |  | – |  |  |  | – |  |  |  | 16,221 |  |  |  | 16,221 |
Derivative assets(1) |  |  | – |  |  |  | 67 |  |  |  | – |  |  |  | 67 |
Derivative liabilities (2) |  |  | – |  |  |  | (1,204 | ) |  |  | – |  |  |  | (1,204 | )
Share appreciation rights |  |  | (18,038 | ) |  |  | – |  |  |  | – |  |  |  | (18,038 | )
|  |  | 1,449,235 |  |  |  | (1,137 | ) |  |  | 203,158 |  |  |  | 1,651,256 |
(1) Included in prepaid expenses and other assets in the consolidated balance sheets and not designated as hedges. (2) Included in accrued expenses and other payables in the consolidated balance sheets and not designated as hedges.
Reconciliations of Assets and Liabilities Categorized within Level 3 | Reconciliations of assets and liabilities categorized within Level 3 under the fair value hierarchy are as follow:
|  | $ |
Assets: |  |  |
Available-for-sale investments |  |  |
Balance at January 1, 2020 |  |  | 128,418 |
Impairments |  |  | (13,429 | )
Conversion into ordinary shares of investees |  |  | (72,000 | )
Fair value loss included in other comprehensive income |  |  | (5,400 | )
Balance at June 30, 2020 |  |  | 37,589 |
Addition |  |  | 20,429 |
Impairments |  |  | (37,571 | )
Fair value loss included in other comprehensive income |  |  | 910 |
Balance at December 31, 2020 |  | 21,357 |
Addition |  | 146,871 |
Fair value loss included in other comprehensive income |  |  | (3,769 | )
Balance as at June 30, 2021 |  |  | 164,459 |
Investments carried at fair value |  |  |
Balance at January 1, 2020, June 30, 2020 and December 31, 2020 |  |  | – |
Addition |  |  | 21,992 |
Balance at June 30, 2021 |  |  | 21,992 |
Other assets |  |  |
Balance at January 1, 2020 |  |  | – |
Acquisition of subsidiary |  |  | 8,718 |
Additions |  |  | 10,928 |
Disposals |  |  | (45 | )
Exchange differences |  |  | (373 | )
Balance at June 30, 2020 |  |  | 19,228 |
Acquisition of subsidiary |  |  | 142 |
Additions |  |  | 2,412 |
Disposals |  |  | (318 | )
Write-down |  |  | (3,713 | )
Exchange differences |  |  | 1,273 |
Balance at December 31, 2020 |  |  | 19,024 |
Additions |  |  | 186 |
Disposals |  |  | (1,989 | )
Write-down |  |  | (441 | )
Exchange differences |  |  | (559 | )
Balance at June 30, 2021 |  |  | 16,221 |

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- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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