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FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS | 12 Months Ended
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Dec. 31, 2014
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS The following tables present the Company's financial instruments that are measured at fair value on a recurring basis:
| December 31, 2014
| 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 | $ | 174,720 |  |  | $ | — |  |  | $ | — |  |  | $ | 174,720 |
Commercial paper | — |  |  | 388,801 |  |  | — |  |  | 388,801 |
Time deposits | — |  |  | 42,914 |  |  | — |  |  | 42,914 |
Marketable securities: |  |  |  |  |  |  |
Corporate debt securities | — |  |  | 159,197 |  |  | — |  |  | 159,197 |
Equity security | 1,451 |  |  | — |  |  | — |  |  | 1,451 |
Long-term investments: |  |  |  |  |  |  |
Auction rate security | — |  |  | — |  |  | 6,070 |  |  | 6,070 |
Marketable equity security | 7,410 |  |  | — |  |  | — |  |  | 7,410 |
Total | $ | 183,581 |  |  | $ | 590,912 |  |  | $ | 6,070 |  |  | $ | 780,563 |
Liabilities: |  |  |  |  |  |  |
Contingent consideration arrangements | $ | — |  |  | $ | — |  |  | $ | (30,140 | ) |  | $ | (30,140 | )
| December 31, 2013
| 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 | $ | 698,307 |  |  | $ | — |  |  | $ | — |  |  | $ | 698,307 |
Commercial paper | — |  |  | 12,000 |  |  | — |  |  | 12,000 |
Time deposits | — |  |  | 32,325 |  |  | — |  |  | 32,325 |
Marketable securities: |  |  |  |  |  |  |
Corporate debt security | — |  |  | 1,008 |  |  | — |  |  | 1,008 |
Equity securities | 4,996 |  |  | — |  |  | — |  |  | 4,996 |
Long-term investments: |  |  |  |  |  |  |
Auction rate security | — |  |  | — |  |  | 8,920 |  |  | 8,920 |
Marketable equity securities | 11,711 |  |  | — |  |  | — |  |  | 11,711 |
Total | $ | 715,014 |  |  | $ | 45,333 |  |  | $ | 8,920 |  |  | $ | 769,267 |
Liabilities: |  |  |  |  |  |  |
Contingent consideration arrangements | $ | — |  |  | $ | — |  |  | $ | (45,828 | ) |  | $ | (45,828 | )
The following table presents the changes in the Company's financial instruments that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3):
| For the Year Ended
| December 31, 2014 |  | December 31, 2013
| Auction Rate Security |  | Contingent Consideration Arrangements |  | Auction Rate Security |  | Contingent Consideration Arrangements
| (In thousands)
Balance at January 1 | $ | 8,920 |  |  | $ | (45,828 | ) |  | $ | 8,100 |  |  | $ | (1,909 | )
Total net gains (losses): |  |  |  |  |  |  |
Included in earnings | — |  |  | 13,367 |  |  | — |  |  | (343 | )
Included in other comprehensive (loss) income | (2,850 | ) |  | 3,025 |  |  | 820 |  |  | (2,445 | )
Fair value at date of acquisition | — |  |  | (8,813 | ) |  | — |  |  | (41,387 | )
Settlements | — |  |  | 8,109 |  |  | — |  |  | 256 |
Balance at December 31 | $ | 6,070 |  |  | $ | (30,140 | ) |  | $ | 8,920 |  |  | $ | (45,828 | )
Auction rate security The Company's auction rate security is valued by discounting the estimated future cash flow streams of the security over the life of the security. Credit spreads and other risk factors are also considered in establishing fair value. The cost basis of the auction rate security is $10.0 million, with a gross unrealized loss of $3.9 million and $1.1 million at December 31, 2014 and December 31, 2013, respectively. The unrealized losses are included in "Accumulated other comprehensive loss" in the accompanying consolidated balance sheet. At December 31, 2014, the auction rate security is rated BBB+ and matures in 2035. The Company does not consider the auction rate security to be other-than-temporarily impaired at December 31, 2014, due to its high credit rating and because the Company does not intend to sell this security, and it is not more likely than not that the Company will be required to sell this security, before the recovery of its amortized cost basis, which may be maturity. Contingent consideration arrangements As of December 31, 2014, there are five contingent consideration arrangements related to business acquisitions. Four of the contingent consideration arrangements have limits as to the maximum amount that can be paid; the maximum contingent payments related to these arrangements is $166.9 million and the fair value of these four arrangements at December 31, 2014 is $29.5 million. The fair value of the one contingent consideration arrangement without a limit on the maximum amount is $0.7 million at December 31, 2014. The contingent consideration arrangements are generally based upon earnings performance and/or operating metrics. The Company primarily uses probability-weighted analyses to determine the amount of the gross liability, and, to the extent the arrangement is long-term in nature, applies a discount rate, which captures the risks associated with the obligation. The number of scenarios in the probability-weighted analyses can vary; generally, more scenarios are prepared for longer duration and more complex arrangements. The most significant contingent consideration arrangement relates to the acquisition of Twoo.com. The Twoo.com contingent consideration arrangement is payable in three annual installments, which began in 2014. Payments are based upon EBITDA and number of monthly active users. The 2014 installment of $7.4 million was paid in the second quarter of 2014. The remaining aggregate amount of the 2015 and 2016 installment payments cannot exceed €77.9 million ($94.9 million at December 31, 2014). The estimate of the fair value for the Twoo.com remaining payments was determined using a probability weighted analysis that forecasted EBITDA and monthly active users based primarily on management's internal projections and strategic plans. The fair value of this arrangement is determined using a discount rate of 15%. The fair values of the contingent consideration arrangements are sensitive to changes in the forecasts of earnings and/or the relevant operating metrics and changes in discount rates. The Company remeasures the fair value of the contingent consideration arrangements each reporting period, and changes are recognized in “General and administrative expense” in the accompanying consolidated statement of operations. The contingent consideration arrangement liability at December 31, 2014 includes a current portion of $10.7 million and non-current portion of $19.6 million, which are included in “Accrued expenses and other current liabilities” and “Other long-term liabilities,” respectively, in the accompanying consolidated balance sheet. 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, 2014 |  | December 31, 2013
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
| (In thousands)
Long-term debt | $ | (1,080,000 | ) |  | $ | (1,099,813 | ) |  | $ | (1,080,000 | ) |  | $ | (1,058,396 | )
The fair value of long-term debt is estimated using market prices or indices for similar liabilities and taking into consideration other factors such as credit quality and maturity, which are Level 3 inputs.

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- Definition The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 21 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13537-108611 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 10 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13433-108611 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 28 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14064-108612 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=36462937&loc=d3e19207-110258 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 30 -URI http://asc.fasb.org/extlink&oid=6957238&loc=d3e14172-108612 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 16 -URI http://asc.fasb.org/extlink&oid=35750535&loc=d3e13504-108611 + Details
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