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Cash, Concentration of Credit Risk and Fair Value of Financial Instruments (Tables) | 9 Months Ended
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Sep. 30, 2019
Fair Value Disclosures [Abstract] |
Schedule of cash and cash equivalents | The following table provides a reconciliation of total cash, cash equivalents and restricted cash as of September 30, 2019, December 31, 2018 and September 30, 2018 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands). The Company had no restricted cash balance prior to third quarter 2018.
| September 30, |  | December 31, |  | September 30,
| 2019 |  | 2018 |  | 2018
Cash and cash equivalents | $ | 735,886 |  |  | $ | 475,056 |  |  | $ | 508,829 |
Restricted cash included within prepaid and other current assets | 9,229 |  |  | 13,677 |  |  | 15,942 |
Restricted cash included within other non-current assets | 1,080 |  |  | — |  |  | — |
Total cash, cash equivalents and restricted cash | $ | 746,195 |  |  | $ | 488,733 |  |  | $ | 524,771 |
Schedule of restricted cash and cash equivalents | The following table provides a reconciliation of total cash, cash equivalents and restricted cash as of September 30, 2019, December 31, 2018 and September 30, 2018 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands). The Company had no restricted cash balance prior to third quarter 2018.
| September 30, |  | December 31, |  | September 30,
| 2019 |  | 2018 |  | 2018
Cash and cash equivalents | $ | 735,886 |  |  | $ | 475,056 |  |  | $ | 508,829 |
Restricted cash included within prepaid and other current assets | 9,229 |  |  | 13,677 |  |  | 15,942 |
Restricted cash included within other non-current assets | 1,080 |  |  | — |  |  | — |
Total cash, cash equivalents and restricted cash | $ | 746,195 |  |  | $ | 488,733 |  |  | $ | 524,771 |
Schedule of fair value on a recurring basis | Our financial assets and liabilities that are accounted for at fair value on a recurring basis are presented in the tables below as of September 30, 2019 and December 31, 2018 (in thousands):
| Fair Value as of September 30, 2019
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Money market and demand accounts (a) | $ | 746,195 |  |  | $ | — |  |  | $ | — |  |  | $ | 746,195 |
Commercial paper (b) | — |  |  | — |  |  | — |  |  | — |
U.S. government securities | — |  |  | 113,541 |  |  | — |  |  | 113,541 |
Corporate bonds, asset backed and other securities | — |  |  | 98,196 |  |  | — |  |  | 98,196 |
Total | $ | 746,195 |  |  | $ | 211,737 |  |  | $ | — |  |  | $ | 957,932 |
| Fair Value as of December 31, 2018
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Money market and demand accounts (a) | $ | 488,733 |  |  | $ | — |  |  | $ | — |  |  | $ | 488,733 |
Commercial paper (b) | — |  |  | 14,548 |  |  | — |  |  | 14,548 |
U.S. government securities | — |  |  | 289,576 |  |  | — |  |  | 289,576 |
Corporate bonds, asset backed and other securities | — |  |  | 166,600 |  |  | — |  |  | 166,600 |
Total | $ | 488,733 |  |  | $ | 470,724 |  |  | $ | — |  |  | $ | 959,457 |
Liabilities: |  |  |  |  |  |  |
Contingent consideration resulting from the Technicolor Acquisition | $ | — |  |  | $ | — |  |  | $ | 19,800 |  |  | $ | 19,800 |
Total | $ | — |  |  | $ | — |  |  | $ | 19,800 |  |  | $ | 19,800 |
______________________________
(a) | Primarily included within cash and cash equivalents.
(b) As of September 30, 2019 and December 31, 2018, zero commercial paper was included within cash and cash equivalents.
Schedule of contingent consideration liability | The Level 3 contingent consideration liability was historically included within "Other long-term liabilities" in the condensed consolidated balance sheet prior to its derecognition in second quarter 2019.
Level 3 Fair Value Measurements |  | Contingent Consideration Liability
Balance as of December 31, 2018 |  | $ | 19,800 |
Changes in fair value recognized in the condensed consolidated statements of income |  |  | 710 |
Derecognition of contingent consideration liability as a Level 3 fair value measurement |  |  | (20,510 | )
Balance as of September 30, 2019 |  | $ | — |
Schedule of aggregate fair value | The aggregate fair value of the principal amount of the senior convertible long-term debt is a Level 2 fair value measurement.
| September 30, 2019 |  | December 31, 2018
| Principal Amount |  | Carrying Value |  | Fair Value |  | Principal Amount |  | Carrying Value |  | Fair Value
Senior Convertible Long-Term Debt | $ | 494,909 |  |  | $ | 419,136 |  |  | $ | 488,432 |  |  | $ | 316,000 |  |  | $ | 298,951 |  |  | $ | 331,595 |
The aggregate fair value of the Technicolor Acquisition long-term debt is a Level 3 fair value measurement.
| September 30, 2019 |  | December 31, 2018
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Technicolor Acquisition Long-Term Debt | $ | 20,393 |  |  | $ | 22,882 |  |  | $ | 18,428 |  |  | $ | 19,100 |

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- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes 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 liability. + References Reference 1: 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=117815213&loc=d3e19207-110258 Reference 2: 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=117815213&loc=d3e19279-110258 + 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=117815213&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=117815213&loc=d3e19207-110258 + Details
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