| Fair Value Measurements |
FAIR VALUE MEASUREMENTS The table below summarizes certain asset and liability fair values that are included within our accompanying Consolidated Balance Sheets, and their designations among the three fair value measurement categories (see Note 2(xiii)): | | | | | | | | | | | | | | | | | | | December 31, 2018
Fair Value Measurements | | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets: |
| |
| |
| |
| | Bank certificates of deposits | $ | — |
| | $ | 86 |
| | $ | — |
| | $ | 86 |
| | Money market funds | — |
| | 142,745 |
| | — |
| | 142,745 |
| | Equity securities (Note 11) | 46,422 |
| | — |
| | — |
| | 46,422 |
| | Mutual funds | — |
| | 78 |
| | — |
| | 78 |
| | Deferred compensation investments (life insurance cash surrender value - Note 3(h)) | — |
| | 6,274 |
| | — |
| | 6,274 |
| * |
| $ | 46,422 |
| | $ | 149,183 |
| | $ | — |
| | $ | 195,605 |
| | Liabilities: |
| |
| |
| |
| | Deferred executive compensation liability (Note 17(f)) | — |
| | 6,167 |
| | — |
| | 6,167 |
| * | FOLOTYN development liability (Note 16) | — |
| | — |
| | 11,997 |
| | 11,997 |
| | Talon CVR (Note 10 (a)) | — |
| | — |
| | 4,345 |
| | 4,345 |
| |
| $ | — |
| | $ | 6,167 |
| | $ | 16,342 |
| | $ | 22,509 |
| |
| | | | | | | | | | | | | | | | | | | December 31, 2017
Fair Value Measurements | | | Level 1 | | Level 2 | | Level 3 | | Total | | Assets: |
| |
| |
| |
| | Bank certificates of deposits | $ | — |
| | $ | 248 |
| | $ | — |
| | $ | 248 |
| | Money market funds | — |
| | 216,358 |
| | — |
| | 216,358 |
| | Equity securities (Note 11) | 37,530 |
| | — |
| | — |
| | 37,530 |
| | Mutual funds | — |
| | 59 |
| | — |
| | 59 |
| | Deferred compensation investments (life insurance cash surrender value - Note 3(h)) | — |
| | 14,887 |
| | — |
| | 14,887 |
| * |
| $ | 37,530 |
| | $ | 231,552 |
| | $ | — |
| | $ | 269,082 |
| | Liabilities: |
| |
| |
| |
| | Deferred executive compensation liability (Note 17(f)) | — |
| | 11,038 |
| | — |
| | 11,038 |
| * | FOLOTYN development liability (Note 16) | — |
| | — |
| | 12,386 |
| | 12,386 |
| | Talon CVR (Note 10 (a)) | — |
| | — |
| | 6,210 |
| | 6,210 |
| | Corixa Liability (Note 17(b)(i)) | — |
| | — |
| | 62 |
| | 62 |
| |
| $ | — |
| | $ | 11,038 |
| | $ | 18,658 |
| | $ | 29,696 |
| |
* The reported amount of “deferred compensation investments” is based on the cash surrender value of employee life insurance policies at period-end, while the reported amount of “deferred executive compensation liability” is based on the period-end market value of investments selected by plan participants. We did not have any transfers between “Level 1” and “Level 2” (see Note 2(xiii)) measurement categories for any periods presented. The table below summarizes the 2017 and 2018 activity of our liabilities that are valued with unobservable inputs: | | | | | |
| Fair Value Measurements of
Unobservable Inputs
(Level 3) | | Balance at December 31, 2016 | $ | 14,445 |
| | FOLOTYN development liability (Note 16) | (744 | ) | | Talon CVR fair value adjustment - MARQIBO (Note 10(a)) | 4,957 |
| | Balance at December 31, 2017 | $ | 18,658 |
| | FOLOTYN development liability (Note 16) | (389 | ) | | Talon CVR fair value adjustment - MARQIBO (Note 10(a)) | (1,865 | ) | | Corixa Liability (Note 17(b)(i)) | (62 | ) | | Balance at December 31, 2018 | $ | 16,342 |
|
|
Our carrying amounts of financial instruments such as cash equivalents, accounts receivable, prepaid expenses, accounts payable, and accrued liabilities, excluding acquisition-related contingent obligations, approximate their related fair values due to their short-term nature. |