Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2017

Fair Value Measurements of Assets and Liabilities

Schedule of assets and liabilities held and their related classifications under the fair value hierarchy

The following is a summary of assets, liabilities and redeemable noncontrolling interests and their related classifications under the fair value hierarchy:



	December 31, 2017
	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Cash, cash equivalents and restricted cash ⁽¹⁾	$	246,125	$	246,125	$	—	$	—
Marketable securities-short term ⁽²⁾	3,111		—		3,111		—
Total assets	$	249,236	$	246,125	$	3,111	$	—
Liabilities
Contingent interest derivative ⁽³⁾	193						193
Mandatorily redeemable financial instrument ⁽⁴⁾	37,959						37,959
Total liabilities	$	38,152	$	—	$	—	$	38,152
Temporary Equity
Redeemable noncontrolling interests ⁽⁴⁾	$	25,280	$	—	$	—	$	25,280
Total temporary equity	$	25,280	$	—	$	—	$	25,280



	December 31, 2016
(Restated)	Total		(Level 1)		(Level 2)		(Level 3)
Assets
Cash, cash equivalents and restricted cash ⁽¹⁾	$	211,433	$	211,433	$	—	$	—
Marketable securities-short term ⁽²⁾	12,506		—		12,506		—
Marketable securities-long term ⁽²⁾	2,974		—		2,974		—
Total assets	$	226,913	$	211,433	$	15,480	$	—
Liabilities
Contingent consideration obligation	$	2,833	$	—	$	—	$	2,833
Total liabilities	$	2,833	$	—	$	—	$	2,833
Temporary Equity
Redeemable noncontrolling interests ⁽⁵⁾	$	25,280	$	—	$	—	$	25,280
Total temporary equity	$	25,280	$	—	$	—	$	25,280


⁽¹⁾	Cash equivalents primarily include money market funds


⁽²⁾	Comprised of municipal bonds and certificates of deposit


⁽³⁾	Contingent interest derivative related to convertible debt is included in accrued expenses, for further details see Note 11 - Debt.


⁽⁴⁾	Mandatorily redeemable financial instruments comprise of the Company’s contractual obligation to deliver a set number of preferred shares at a time in less than twelve months and the option for the Company to receive a set number of common shares


⁽⁵⁾	Put arrangements held by the noncontrolling interests in certain of the Company’s joint ventures

Schedule of estimated fair value of investments classified as available for sale

At December 31, 2017 and December 31, 2016, the estimated fair value of investments classified as available for sale, are as follows:



	December 31, 2017
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Marketable securities:
Certificates of deposit	$	250	$	—	$	—		$	250
Municipal bonds	2,867		—		(6		)	2,861
Total marketable securities	$	3,117	$	—	$	(6	)	$	3,111

As of December 31, 2017, an insignificant amount of accumulated unrealized losses related to investments that have been in a continuous unrealized loss position for 12 months or longer. The aggregate related fair value of investment with unrealized losses was approximately $2.9 million.



	December 31, 2016
	(Restated)
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Marketable securities:
Certificates of deposit	$	450	$	—	$	—		$	450
Municipal bonds	15,063		1		(34		)	15,030
Total marketable securities	$	15,513	$	1	$	(34	)	$	15,480

Expected maturities of available-for-sale securities

Contractual maturities of marketable debt securities are as follows:



	December 31, 2017
	Amortized Cost		Fair Value
Due within one year	$	3,117	$	3,111
Due after 1 year through 5 years	—		—
Total available-for-sale securities	$	3,117	$	3,111

Redeemable Noncontrolling Interests

Fair Value Measurements of Assets and Liabilities

Schedule of changes in fair value of Level 3

The changes in redeemable noncontrolling interests classified as Level 3 measurements were as follows:



Balance at December 31, 2016	$	25,280
Fair value and other adjustments	9,291
Net loss attributable to interests in subsidiaries	(9,291		)
Balance at December 31, 2017	$	25,280

Contingent Consideration Obligation

Fair Value Measurements of Assets and Liabilities

Schedule of changes in fair value of Level 3

The changes in fair value of the Company’s Level 3 contingent consideration obligation during the year ended December 31, 2017 were as follows:



Balance at December 31, 2016, as restated	$	2,833
Payment of contingent consideration	(2,831		)
Other adjustments to contingent consideration obligation included in net income	(2		)
Balance at December 31, 2017	$	—