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Other Investments | 9 Months Ended
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Sep. 30, 2018
Other Investments |
Other Investments | 13. Other Investments At September 30, 2018, the Company held $14.3 million in investments in certain limited partnerships that invest in various innovative companies in the health care and education-related technology fields. The Company has commitments to invest up to an additional $2.7 million across these partnerships through December 2027. During the three months ended September 30, 2018, the Company made investments totaling $0.2 million in the partnerships. The Company's investments comprise less than 5% of any partnership’s interest. The other investments in limited partnerships were acquired in the merger with CEC and were recorded at their estimated fair value of $14.1 million as of the acquisition date. The Company had no holdings of these other investments as of December 31, 2017. Under ASU 2016-01, the Company has elected the option to record other investments at cost less impairment and recognize subsequent adjustments for any observable price changes within earnings. During the three months ended September 30, 2018, no events or changes in circumstances which could have a significant adverse impact on the fair value of the partnership investments were identified, and there were no observable price changes recognized in earnings with respect to these investments. Additionally, during the three months ended September 30, 2018, no impairment charges were recorded related to the partnership investments. As no impairment charges were recorded and because no observable price changes occurred during the period, the Company's other investments are reflected at cost within the other assets balance in the unaudited condensed consolidated balance sheets as of September 30, 2018. When measured on a nonrecurring basis, if changes in circumstances are identified, the Company’s partnership investments are considered to be Level 3 in the fair value hierarchy due to the use of unobservable inputs to measure fair value.

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