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Fair Value Measurements (Tables)
 6 Months Ended
Jun. 30, 2019
Fair Value Disclosures [Abstract]  
Schedule of cash and cash equivalents
The following table presents current and noncurrent restricted cash and cash equivalent balances at June 30, 2019 and December 31, 2018 (in thousands):
 
June 30, 2019
 
December 31, 2018
Restricted cash and cash equivalents—current portion (1)
$
307,587

 
$
305,368

Restricted cash and cash equivalents—noncurrent portion (2)
22,357

 
22,356

Restricted cash and cash equivalents—total (3)
$
329,944

 
$
327,724

__________
(1)
These amounts are reported in our Condensed Consolidated Balance Sheets as Restricted cash and cash equivalents.
(2)
These amounts are reported in our Condensed Consolidated Balance Sheets as Other assets.
(3)
Approximately $306.4 million and $299.7 million of our restricted cash and cash equivalents are held in qualified settlement funds (QSFs) for mesh-related matters at June 30, 2019 and December 31, 2018, respectively. The remaining amount of restricted cash and cash equivalents at June 30, 2019 primarily relates to other litigation-related matters. See Note 13. Commitments and Contingencies for further information.
Restrictions on cash and cash equivalents
The following table presents current and noncurrent restricted cash and cash equivalent balances at June 30, 2019 and December 31, 2018 (in thousands):
 
June 30, 2019
 
December 31, 2018
Restricted cash and cash equivalents—current portion (1)
$
307,587

 
$
305,368

Restricted cash and cash equivalents—noncurrent portion (2)
22,357

 
22,356

Restricted cash and cash equivalents—total (3)
$
329,944

 
$
327,724

__________
(1)
These amounts are reported in our Condensed Consolidated Balance Sheets as Restricted cash and cash equivalents.
(2)
These amounts are reported in our Condensed Consolidated Balance Sheets as Other assets.
(3)
Approximately $306.4 million and $299.7 million of our restricted cash and cash equivalents are held in qualified settlement funds (QSFs) for mesh-related matters at June 30, 2019 and December 31, 2018, respectively. The remaining amount of restricted cash and cash equivalents at June 30, 2019 primarily relates to other litigation-related matters. See Note 13. Commitments and Contingencies for further information.
Financial assets and liabilities measured at fair value on recurring basis
The Company’s financial assets and liabilities measured at fair value on a recurring basis at June 30, 2019 and December 31, 2018 were as follows (in thousands):
 
Fair Value Measurements at June 30, 2019 using:
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
 
Total
Assets:
 
 
 
 
 
 
 
Money market funds
$
308,208

 
$
—

 
$
—

 
$
308,208

Liabilities:
 
 
 
 
 
 
 
Acquisition-related contingent consideration—current
$
—

 
$
—

 
$
20,412

 
$
20,412

Acquisition-related contingent consideration—noncurrent
$
—

 
$
—

 
$
32,518

 
$
32,518

 
Fair Value Measurements at December 31, 2018 using:
 
Quoted Prices in Active Markets for Identical Assets (Level 1)
 
Significant Other Observable Inputs (Level 2)
 
Significant Unobservable Inputs (Level 3)
 
Total
Assets:
 
 
 
 
 
 
 
Money market funds
$
137,215

 
$
—

 
$
—

 
$
137,215

Liabilities:
 
 
 
 
 
 
 
Acquisition-related contingent consideration—current
$
—

 
$
—

 
$
36,514

 
$
36,514

Acquisition-related contingent consideration—noncurrent
$
—

 
$
—

 
$
80,189

 
$
80,189
Changes to liability for acquisition-related contingent consideration
The following table presents changes to the Company’s liability for acquisition-related contingent consideration, which is measured at fair value on a recurring basis using significant unobservable inputs (Level 3), for the three and six months ended June 30, 2019 and 2018 (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2019
 
2018
 
2019
 
2018
Beginning of period
$
67,842

 
$
169,287

 
$
116,703

 
$
190,442

Amounts settled
(9,574
)
 
(20,967
)
 
(21,165
)
 
(48,734
)
Changes in fair value recorded in earnings
(5,507
)
 
4,127

 
(43,008
)
 
10,962

Effect of currency translation
169

 
(349
)
 
400

 
(572
)
End of period
$
52,930

 
$
152,098

 
$
52,930

 
$
152,098


The following table presents changes to the Company’s liability for acquisition-related contingent consideration during the six months ended June 30, 2019 by acquisition (in thousands):
 
Balance as of December 31, 2018
 
Changes in Fair Value Recorded in Earnings
 
Amounts Settled and Other
 
Balance as of June 30, 2019
Auxilium acquisition
$
14,157

 
$
730

 
$
(388
)
 
$
14,499

Lehigh Valley Technologies, Inc. acquisitions
34,700

 
(4,531
)
 
(10,069
)
 
20,100

VOLTAREN® Gel acquisition (1)
56,240

 
(39,023
)
 
(10,038
)
 
7,179

Other
11,606

 
(184
)
 
(270
)
 
11,152

Total
$
116,703

 
$
(43,008
)
 
$
(20,765
)
 
$
52,930


__________
(1)
The change in fair value recorded in earnings includes the impact of certain competitive events occurring during the six months ended June 30, 2019.
Summary of nonrecurring fair value measurements
The Company’s financial assets and liabilities measured at fair value on a nonrecurring basis during the six months ended June 30, 2019 were as follows (in thousands):
 
Fair Value Measurements during the Six Months Ended June 30, 2019 (1) using:
 
Total Expense for the Six Months Ended 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:
 
 
 
 
 
 
 
Intangible assets, excluding goodwill (Note 9)
$
—

 
$
—

 
$
41,839

 
$
(100,399
)
Certain property, plant and equipment
—

 
—

 
—

 
(2,379
)
Total
$
—

 
$
—

 
$
41,839

 
$
(102,778
)

__________
(1)
The fair value amounts are presented as of the date of the fair value measurement as these assets are not measured at fair value on a recurring basis. Such measurements generally occur in connection with our quarter-end financial reporting close procedures.