FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value

The Company’s assets and liabilities measured at fair value on a recurring basis were:

	March 31, 2020								December 31, 2019
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents (1)	$	460,475	$	—	$	—	$	460,475	$	—	$	—	$	—	$	—
Investments in privately-held companies (2)	$	—	$	—	$	6,338	$	6,338	$	—	$	—	$	4,871	$	4,871
Capped Call Transactions (2) (3)	$	—	$	33,308	$	—	$	33,308	$	—	$	—	$	—	$	—

(1) Composed of investments in money market funds. (2) Included in other long-term assets. (3) See "6. Debt" for additional information.

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

Change in investments in privately-held companies:

(in thousands)	Three Months Ended March 31, 2020
Balance as of January 1,	$	4,871
New investments	1,490
Sales of investments	(1,424)
Currency translation adjustments	(73)
Fair value adjustment	1,474
Balance as of end of period	$	6,338