Annual report pursuant to Section 13 and 15(d)

FAIR VALUE MEASUREMENTS (Tables)

v3.20.4
FAIR VALUE MEASUREMENTS (Tables)
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value of Assets and Liabilities Measured on Recurring Basis
In accordance with the fair value hierarchy described above, the following table shows the fair value of our financial assets and liabilities that are required to be measured at fair value on a recurring basis, which are classified on the balance sheets as cash and cash equivalents, other current assets, other current liabilities and other long-term liabilities:
  Fair Value Measurements 
 
at December 31, 2020
Fair Value Measurements 
 
at December 31, 2019
  Level 1 Level 2 Level 3 Total Level 1 Level 2 Level 3 Total
    (in thousands)     (in thousands)  
Assets:
Cash equivalents $ 282,696  $ —  $ —  $ 282,696  $ 215,674  $ —  $ —  $ 215,674 
Forward currency contracts
—  118  —  118  —  11  —  11 
Total $ 282,696  $ 118  $ —  $ 282,814  $ 215,674  $ 11  $ —  $ 215,685 
Liabilities:
Interest rate swap
$ —  $ 31,587  $ —  $ 31,587  $ —  $ —  $ —  $ — 
Forward currency contracts
—  1,423  —  1,423  —  1,159  —  1,159 
Put option
—  —  8,183  8,183  —  —  8,006  8,006 
Subsidiary equity awards
—  —  —  —  —  —  7,661  7,661 
Contingent consideration
—  —  46,574  46,574  —  —  64,892  64,892 
Total $ —  $ 33,010  $ 54,757  $ 87,767  $ —  $ 1,159  $ 80,559  $ 81,718 
Fair Value of Debt The following table presents the estimated fair values of our senior secured notes, senior notes and convertible senior notes at December 31, 2020 and 2019:
Estimated Fair Value at:
December 31, 2020 December 31, 2019
Level 2
(in thousands)
6.5% Senior Secured Notes Due 2027 $ 1,340,688  $ — 
4.75% Senior Notes Due 2027 $ 970,872  $ 983,735 
4.875% Senior Notes due 2024 $ 581,480  $ 596,137 
5.625% Senior Notes due 2026 $ 307,785  $ 320,553 
2.5% Convertible Senior Notes due 2023 $ 720,764  $ 675,664 
2.0% Convertible Senior Notes due 2025 $ 425,172  $ — 
Fair Value of Assets Measured on a Non-recurring Basis
The following table shows the fair value of our financial assets that have been adjusted to fair value on a non-recurring basis which had a significant impact on our results of operations for the years ended December 31, 2020 and 2019:
  Fair Value Fair Value Measurements Using Loss
Description Measurement Level 1 Level 2 Level 3 (Gain)
  (in thousands)
2020
Definite-lived intangible assets, net $ 7,963  $ —  $ —  $ 7,963  $ 23,630 
2019
Definite-lived intangible assets, net $ —  $ —  $ —  $ —  $ 26,751