Quarterly report pursuant to Section 13 or 15(d)

FAIR VALUE MEASUREMENTS

v3.19.1
FAIR VALUE MEASUREMENTS
3 Months Ended
Mar. 31, 2019
Fair Value Disclosures [Abstract]  
FAIR VALUE MEASUREMENTS
FAIR VALUE MEASUREMENTS
The following table shows the fair value of our significant financial assets that are required to be measured at fair value on a recurring basis, which are classified on the consolidated balance sheets as cash and cash equivalents.
 
Estimated Fair Value at
 
March 31, 2019
 
December 31, 2018
 
Level 1
 
(in thousands)
Assets:
 
 
 
       Cash equivalents
$
232,081

 
$
86,046


Our outstanding debt held by third-party financial institutions is carried at cost, adjusted for any discounts or debt issuance costs. Our debt is not publicly traded and the carrying amounts typically approximate fair value for debt that accrues interest at a variable rate, which are considered to be Level 2 inputs as defined in the FASB guidance.
The following table presents the estimated fair values of our senior notes and convertible senior notes:


Estimated Fair Value at
 
March 31, 2019
 
December 31, 2018
 
Level 2
 
(in thousands)
4.875% Senior Notes due 2024
$
578,939

 
$
552,368

5.625% Senior Notes due 2026
$
308,616

 
$
302,097

5.375% Senior Notes due 2022
$
253,600

 
$
251,390

2.5% Convertible Senior Notes due 2023
$
636,625

 
$
561,699

2.5% Convertible Senior Notes due 2019
$
52,472

 
$
40,710


The estimated fair value of our third-party fixed-rate debt is based on quoted market prices in active markets for the same or similar debt, which are considered to be Level 2 inputs.