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Fair value measurement (Tables)
6 Months Ended
Jun. 30, 2019
Schedule of assets and liabilities measured at fair value on recurring basis

 

Quoted prices
in active
markets
(Level 1)

 

Significant
other
observable
inputs
(Level 2)

 

Significant
unobservable
inputs
(Level 3)

 

Total

 

Classification in consolidated
balance sheets

(in thousands)

At December 31, 2018

Assets:

Cash, cash equivalents and restricted cash

$

237,342

$

$

$

237,342

Cash and cash equivalents; restricted cash

Total assets

$

237,342

$

$

$

237,342

Liabilities:

Derivative financial instruments - debt

$

$

$

572

$

572

Accrued expenses and other current liabilities

Derivative financial instruments - related party

803

803

Total liabilities

$

$

$

1,375

$

1,375

At June 30, 2019

Assets:

Cash, cash equivalents and restricted cash

$

187,035

$

$

$

187,035

Cash and cash equivalents; restricted cash

Total assets

$

187,035

$

$

$

187,035

Liabilities:

Derivative financial instruments - related party

3,251

3,251

Total liabilities

$

$

$

3,251

$

3,251

Schedule of changes in Level 3 items

Derivative

financial

    

instruments

    

(in thousands)

Balance at December 31, 2018

$

1,375

Losses recognized in profit or loss

2,634

Exercise of warrants

(770)

Currency translation effects

12

Balance at June 30, 2019

$

3,251

Schedule of changes in assumptions for fair value of warrants

Total warrants

(in thousands)

Base case

$

3,251

Increase volatility by 10% to 82.5%

687

Extend exercise dates by one year

(38)