FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2018

Financial Assers and Liabilities Measured at Fair Value on Recurring Basis

The following table shows the fair values of the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2018:



	As of June 30, 2018
	Balance		Level 1		Level 2		Level 3
Foreign exchange derivative assets	$	84	$	—	$	84	$	—
Total assets measured at fair value on a recurring basis	$	84	$	—	$	84	$	—

Contingent consideration	$	2,400	$	—	$	—	$	2,400
Foreign exchange derivative liabilities	2,690		$	—	2,690		$	—
Total liabilities measured at fair value on a recurring basis	$	5,090	$	—	$	2,690	$	2,400

The Company had no material financial assets or liabilities measured at fair value on a recurring basis as of December 31, 2017.

A reconciliation of the beginning and ending balances of acquisition-related contractual contingent liabilities using significant unobservable inputs (Level 3) for the six months ended June 30, 2018 is as follows:



	Amount
Contractual contingent liabilities at December 31, 2017	$	—
Acquisition date fair value of contractual contingent liabilities — Continuum (Note 2)	2,400
Contractual contingent liabilities at June 30, 2018	$	2,400

Reported Amounts and Estimated Fair Values of the Financial Assets and Liabilities Requiring Fair Value Disclosure

The following tables present the reported amounts and estimated fair values of the financial assets and liabilities for which disclosure of fair value is required, as they would be categorized within the fair value hierarchy, as of the dates indicated:



					Fair Value Hierarchy
	Balance		Estimated Fair Value		Level 1		Level 2		Level 3
June 30, 2018
Financial Assets:
Cash and cash equivalents	$	584,081	$	584,081	$	584,081	$	—	$	—
Restricted cash	$	1,195	$	1,195	$	1,195	$	—	$	—
Employee loans	$	3,753	$	3,753	$	—	$	—	$	3,753
Financial Liabilities:
Borrowings under the 2017 Credit Facility	$	25,019	$	25,019	$	—	$	25,019	$	—



					Fair Value Hierarchy
	Balance		Estimated Fair Value		Level 1		Level 2		Level 3
December 31, 2017
Financial Assets:
Cash and cash equivalents	$	582,585	$	582,585	$	582,585	$	—	$	—
Time deposits and restricted cash	$	673	$	673	$	—	$	673	$	—
Employee loans	$	4,210	$	4,210	$	—	$	—	$	4,210
Financial Liabilities:
Borrowings under the 2017 Credit Facility	$	25,009	$	25,009	$	—	$	25,009	$	—