FAIR VALUE MEASUREMENTS AND FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2017

Schedule of Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following tables present the Company's financial instruments that are measured at fair value on a recurring basis:



	March 31, 2017
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	689,129	$	—	$	—		$	689,129
Commercial paper	—		149,940		—			149,940
Time deposits	—		105,397		—			105,397
Treasury discount notes	74,971		—		—			74,971
Marketable securities:
Commercial paper	—		21,949		—			21,949
Treasury discount notes	9,993		—		—			9,993
Corporate debt securities	—		2,050		—			2,050
Total	$	774,093	$	279,336	$	—		1,053,429

Liabilities:
Contingent consideration arrangements	$	—	$	—	$	(21,821	)	$	(21,821	)



	December 31, 2016
	Quoted Market Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)			Total Fair Value Measurements
	(In thousands)
Assets:
Cash equivalents:
Money market funds	$	667,662	$	—	$	—		$	667,662
Commercial paper	—		123,640		—			123,640
Time deposits	—		79,000		—			79,000
Treasury discount notes	24,991		—		—			24,991
Marketable securities:
Commercial paper	—		49,797		—			49,797
Treasury discount notes	34,974		—		—			34,974
Corporate debt securities	—		4,571		—			4,571
Total	$	727,627	$	257,008	$	—		$	984,635

Liabilities:
Contingent consideration arrangements	$	—	$	—	$	(33,871	)	$	(33,871	)

Schedule of Changes in Assets Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)

The following tables present the changes in the Company's financial instruments that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3):



	Three Months Ended March 31,
	2017			2016
	Contingent Consideration Arrangements			Auction Rate Security			Contingent Consideration Arrangements
	(In thousands)
Balance at January 1	$	(33,871	)	$	4,050		$	(33,873	)
Total net (losses) gains:
Included in earnings:
Fair value adjustments	(1,891		)	—			(3,669		)
Included in other comprehensive (loss) income	(1,059		)	5,950			(1,906		)
Fair value at date of acquisition	—			—			(185		)
Settlements	15,000			—			312
Proceeds from sale	—			(10,000		)	—
Other	—			—			2,078
Balance at March 31	$	(21,821	)	$	—		$	(37,243	)

Schedule of Changes in Liabilities Measured at Fair Value on a Recurring Basis Using Significant Unobservable Inputs (Level 3)

The following tables present the changes in the Company's financial instruments that are measured at fair value on a recurring basis using significant unobservable inputs (Level 3):



	Three Months Ended March 31,
	2017			2016
	Contingent Consideration Arrangements			Auction Rate Security			Contingent Consideration Arrangements
	(In thousands)
Balance at January 1	$	(33,871	)	$	4,050		$	(33,873	)
Total net (losses) gains:
Included in earnings:
Fair value adjustments	(1,891		)	—			(3,669		)
Included in other comprehensive (loss) income	(1,059		)	5,950			(1,906		)
Fair value at date of acquisition	—			—			(185		)
Settlements	15,000			—			312
Proceeds from sale	—			(10,000		)	—
Other	—			—			2,078
Balance at March 31	$	(21,821	)	$	—		$	(37,243	)

Carrying Value and the Fair Value of Financial Instruments Measured at Fair Value Only for Disclosure Purposes

The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes:



	March 31, 2017						December 31, 2016
	Carrying Value			Fair Value			Carrying Value			Fair Value
	(In thousands)
Current portion of long-term debt	$	(5,000	)	$	(5,264	)	$	(20,000	)	$	(20,311	)
Long-term debt, net of current portion	(1,571,982		)	(1,655,064		)	(1,582,484		)	(1,657,861		)