FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2020

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured and Carried at Fair Value

The tables below present information about the Company’s financial assets and liabilities that are measured and carried at fair value and indicate the level within the fair value hierarchy of valuation techniques it utilizes to determine such fair value: 

	Fair Value Measurement as of September 30, 2020
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	624,714	$	624,714	$	—	$	—
Government and government agency bonds		892,614		892,614		—		—
Strategic equity investments		32,769		2,769		—		30,000
Certificates of deposit		1,001		1,001		—		—
Total assets	$	1,551,098	$	1,521,098	$	—	$	30,000
Liabilities
Contingent consideration	$	50,500	$	—	$	—	$	50,500
Total liabilities	$	50,500	$	—	$	—	$	50,500

	Fair Value Measurement as of December 31, 2019
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	203,410	$	203,410	$	—	$	—
Government and government agency bonds		809,159		809,159		—		—
Strategic equity investments		31,937		1,937		—		30,000
Certificates of deposit		1,001		1,001		—		—
Total assets	$	1,045,507	$	1,015,507	$	—	$	30,000
Liabilities
Contingent consideration	$	5,200	$	—	$	—	$	5,200
Total liabilities	$	5,200	$	—	$	—	$	5,200

Summary of Fair Value of Level 3 Financial Liabilities

The following table represents a roll-forward of the fair value of level 3 financial liabilities:

	For the Nine Months Ended September 30, 2020
	(in thousands)
Fair value as of December 31, 2019	$	5,200
Additions of contingent consideration		300
Changes in estimated fair value		45,000
Fair value as of September 30, 2020	$	50,500