FAIR VALUE MEASUREMENTS Schedule of Fair Value, Assets and Liabilities Measured on a Reoccuring Basis (Tables)

3 Months Ended

Mar. 31, 2018

Mar. 31, 2017

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize the Company's assets that are measured at fair value on a recurring basis as of March 31, 2018 and December 31, 2017 (in thousands):



			Fair Value Measurement at Reporting Date Using
	March 31, 2018		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents	$	93,325	$	93,325	$	—	$	—
Fair value option investments	77,933		—		—		77,933
Available-for-sale securities:
Convertible debt securities	11,070		—		—		11,070
Redeemable preferred shares	14,576		—		—		14,576



			Fair Value Measurement at Reporting Date Using
	December 31, 2017		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Cash equivalents	$	137,975	$	137,975	$	—	$	—
Fair value option investments	82,966		—		—		82,966
Available-for-sale securities:
Convertible debt securities	11,354		—		—		11,354
Redeemable preferred shares	15,431		—		—		15,431

Fair Value, Assets and Liabilities, Reconciliation of Level 3 Inputs

The following table provides a roll-forward of the fair value of recurring Level 3 fair value measurements for the three months ended March 31, 2018 and 2017 (in thousands):



	Three Months Ended March 31,
	2018			2017
Assets
Fair value option investments:
Beginning Balance	$	82,966		$	82,584
Total gains (losses) included in earnings	(5,033		)	303
Ending Balance	$	77,933		$	82,887
Unrealized gains (losses) still held ⁽¹⁾	$	(5,033	)	$	303
Available-for-sale securities
Convertible debt securities:
Beginning Balance	$	11,354		$	10,038
Acquisition of convertible debt security	—			1,612
Total gains (losses) included in other comprehensive income (loss)	(501		)	42
Total gains (losses) included in earnings ⁽²⁾	217			239
Ending Balance	$	11,070		$	11,931
Unrealized gains (losses) still held ⁽¹⁾	$	(284	)	$	281
Redeemable preferred shares:
Beginning Balance	$	15,431		$	17,444
Total gains (losses) included in other comprehensive income (loss)	—			344
Impairment included in earnings	(855		)	—
Ending Balance	$	14,576		$	17,788
Unrealized (losses) gains still held ⁽¹⁾	$	(855	)	$	344

Liabilities
Contingent Consideration:
Beginning Balance	$	—		$	14,588
Total losses (gains) included in earnings ⁽³⁾	—			12
Ending Balance	$	—		$	14,600
Unrealized losses (gains) still held⁽¹⁾	$	—		$	12

Fair Value of Financial Assets and Liabilities not Measured at Fair Value

The following table presents the carrying amount and fair value of equity securities that were classified as cost method investments as of December 31, 2017 (in thousands):



	December 31, 2017
	Carrying Amount		Fair Value
Cost method investments ⁽¹⁾	$	25,438	$	32,792


(1)	See Note 2, Adoption of New Accounting Standards, and Note 5, Investments, for information about the Company's adoption of ASU 2016-01 on January 1, 2018 and its impact on accounting for equity investments without readily determinable fair values that were previously subject to the cost method of accounting.