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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Value, Assets Measured on Recurring and Nonrecurring Basis

The following table presents the fair values, valuation techniques, unobservable inputs, and ranges of the Company’s financial liabilities categorized within Level 3.

			Valuation Technique						Unobservable Input						Range						Weighted Average
Contingent Consideration			Option-Based Model						Risk free rate						1.9% - 2.9%						1.9		%
									Debt spread						0.0% - 136.0%						53.7		%
									Probabilities						5.0% - 100.0%						65.3		%
									Present value factor						3.6% - 4.8%						3.6		%
									Discount rate						2.9% - 42.0%						31.2		%
			Monte Carlo Simulation						Risk free rate (1)						1.5		%
									Discount rate (1)						10.7		%
									Market volatility						26.5% - 57.1%						41.8		%
									Counter party risk rate (1)						1.5		%

⁽¹⁾ The input is a defined rate and, as a result, is not presented as a range or weighted average.

Schedule Of Fair Values Of Financial Instruments Measured On Recurring Basis

The following tables present the fair values of the Company’s financial assets or liabilities that are measured at fair value on a recurring basis (in thousands):

March 31, 2020			Level 1						Level 2						Level 3						Fair Value
Assets:
Cash equivalents:
Money market and other funds			$	377,695					$	—					$	—					$	377,695
Corporate debt securities			—						633						—						633
Total assets measured at fair value			$	377,695					$	633					$	—					$	378,328
Liabilities:
Contingent consideration			$	—					$	—					$	8,864					$	8,864
Total liabilities measured at fair value			$	—					$	—					$	8,864					$	8,864
December 31, 2019			Level 1						Level 2						Level 3						Fair Value
Assets:
Cash equivalents:
Money market and other funds			$	395,664					$	—					$	—					$	395,664
Corporate debt securities			—						623						22,047						22,670
Total assets measured at fair value			$	395,664					$	623					$	22,047					$	418,334
Liabilities:
Contingent consideration			$	—					$	—					$	37,887					$	37,887
Total liabilities measured at fair value			$	—					$	—					$	37,887					$	37,887

Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block]

The following table presents a reconciliation of the Company’s Level 3 financial liabilities related to contingent consideration that are measured at fair value on a recurring basis (in thousands):

			Level 3						Affected line item in the Statement of Operations
Balance as of January 1, 2020			$	37,887
Contingent consideration			5,035
Total fair value adjustments reported in earnings			(240)						General and administrative
Contingent consideration payments			(33,818)						Not applicable
Balance as of March 31, 2020			$	8,864

X

- Definition

Tabular disclosure of assets measured at fair value measured on a recurring or nonrecurring basis. Includes, but is not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2.

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
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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

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
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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

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-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

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