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8. Fair Value Measurements (Tables)
9 Months Ended
Sep. 30, 2018
Fair Value Disclosures [Abstract]  
Fair value of assets and liabilities measured on a recurring basis
At September 30, 2018 and December 31, 2017, the fair value measurements of our assets and liabilities measured on a recurring basis were as follows (in thousands):
 
 
 
 
Fair Value Measurements at Reporting
Date Using
 
 
 
 
 
 
 
September 30,
2018
 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
 
Money market funds
 
$
200,613

 
$
200,613

 
$

 
$

Marketable securities:
 
 
 
 
 
 
 
 
Foreign debt
 
314,213

 

 
314,213

 

Foreign government obligations
 
117,975

 

 
117,975

 

U.S. debt
 
25,047

 

 
25,047

 

Time deposits
 
837,814

 
837,814

 

 

Restricted investments
 
258,613

 

 
258,613

 

Derivative assets
 
5,494

 

 
5,494

 

Total assets
 
$
1,759,769

 
$
1,038,427

 
$
721,342

 
$

Liabilities:
 
 
 
 
 
 
 
 
Derivative liabilities
 
$
7,564

 
$

 
$
7,564

 
$

 
 
 
 
Fair Value Measurements at Reporting
Date Using
 
 
 
 
 
 
 
December 31,
2017
 
Quoted Prices
in Active
Markets for
Identical
Assets
(Level 1)
 
Significant
Other
Observable
Inputs
(Level 2)
 
 
Significant
Unobservable
Inputs
(Level 3)
Assets:
 
 
 
 
 
 
 
 
Cash equivalents:
 
 
 
 
 
 
 
 
Money market mutual funds
 
$
125,585

 
$
125,585

 
$

 
$

Marketable securities:
 
 
 
 
 
 
 
 
Foreign debt
 
238,858

 

 
238,858

 

Foreign government obligations
 
152,850

 

 
152,850

 

U.S. debt
 
73,671

 

 
73,671

 

Time deposits
 
255,000

 
255,000

 

 

Restricted investments
 
373,961

 

 
373,961

 

Derivative assets
 
4,303

 

 
4,303

 

Total assets
 
$
1,224,228

 
$
380,585

 
$
843,643

 
$

Liabilities:
 
 
 
 
 
 
 
 
Derivative liabilities
 
$
33,229

 
$

 
$
33,229

 
$


Fair value of financial instruments not measured on a recurring basis
At September 30, 2018 and December 31, 2017, the carrying values and fair values of our financial instruments not measured at fair value were as follows (in thousands):
 
 
September 30, 2018
 
December 31, 2017
 
 
 
Carrying
Value
 
Fair
Value
 
Carrying
Value
 
Fair
Value
Assets:
 
 
 
 
 
 
 
 
Notes receivable – noncurrent
 
$
9,306

 
$
9,264

 
$
10,495

 
$
10,516

Notes receivable, affiliate – current
 
21,308

 
23,638

 
20,411

 
23,317

Note receivable, affiliate – noncurrent
 

 

 
48,370

 
47,441

Liabilities:
 
 
 
 
 
 
 
 
Long-term debt, including current maturities (1)
 
$
478,101

 
$
491,243

 
$
406,388

 
$
416,486


——————————
(1)
Excludes capital lease obligations and unamortized discounts and issuance costs.