FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 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:

	June 30, 2020								December 31, 2019
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents (1)	$	450,465	$	—	$	—	$	450,465	$	—	$	—	$	—	$	—
Capped Call Transactions (2) (3)	$	—	$	52,727	$	—	$	52,727	$	—	$	—	$	—	$	—
Venture investments (2) (4)	$	—	$	—	$	6,640	$	6,640	$	—	$	—	$	4,871	$	4,871

(1) Composed of investments in money market funds. (2) Included in other long-term assets. (3) See "5. Debt" for additional information. (4) Composed of investments in privately-held companies.

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

Change in venture investments:

(in thousands)	Six Months Ended June 30, 2020
December 31, 2019	$	4,871
New investments	1,769
Sales of investments	(1,424)
Changes in foreign exchange rates	(50)
Fair value adjustment	1,474
June 30, 2020	$	6,640