8. Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2019

Fair value of assets and liabilities measured on a recurring basis

At June 30, 2019 and December 31, 2018, 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
	June 30, 2019		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	$	41,158	$	41,158	$	—	$	—
Marketable securities:
Foreign debt	368,738		—		368,738		—
Foreign government obligations	30,350		—		30,350		—
U.S. debt	69,802		—		69,802		—
Time deposits	338,671		338,671		—		—
Restricted investments	232,835		—		232,835		—
Derivative assets	1,719		—		1,719		—
Total assets	$	1,083,273	$	379,829	$	703,444	$	—
Liabilities:
Derivative liabilities	$	13,909	$	—	$	13,909	$	—



			Fair Value Measurements at Reporting Date Using
	December 31, 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	$	200,788	$	200,788	$	—	$	—
Marketable securities:
Foreign debt	318,646		—		318,646		—
Foreign government obligations	98,621		—		98,621		—
U.S. debt	44,468		—		44,468		—
Time deposits	681,969		681,969		—		—
Restricted investments	179,000		—		179,000		—
Derivative assets	2,364		—		2,364		—
Total assets	$	1,525,856	$	882,757	$	643,099	$	—
Liabilities:
Derivative liabilities	$	16,499	$	—	$	16,499	$	—

Carrying value and fair value of financial instruments not measured at fair value

At June 30, 2019 and December 31, 2018, the carrying values and fair values of our financial instruments not measured at fair value were as follows (in thousands):



	June 30, 2019				December 31, 2018
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Notes receivable – current (2)	$	23,911	$	25,307	$	5,196	$	5,196
Note receivable – noncurrent	7,968		7,978		8,017		8,010
Notes receivable, affiliate – noncurrent (2)	—		—		22,832		24,295
Liabilities:
Long-term debt, including current maturities (1)	$	492,247	$	510,008	$	479,157	$	470,124

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(1)	Excludes unamortized discounts and issuance costs.

(2)

In January 2019, CEC no longer qualified to be accounted for under the equity method, and our loans to the company were no longer classified as notes receivable from an affiliate. As of June 30, 2019, the aggregate balance outstanding on the loans was presented within “Prepaid expenses and other current assets.” As of December 31, 2018, the aggregate balance outstanding on the loans was presented within “Notes receivable, affiliate.”