FINANCIAL INSTRUMENTS AND FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2019

Fair Value Disclosures [Abstract]

Schedule of Fair Value of Marketable Securities

At December 31, 2019 and 2018, the fair value of marketable securities are as follows:

	December 31,
	2019		2018
	(In thousands)
Available-for-sale marketable debt securities	$	19,993	$	123,246
Marketable equity security	—		419
Total marketable securities	$	19,993	$	123,665

Schedule of Current Available-for-sale Marketable Securities

At December 31, 2018, current available-for-sale marketable debt securities are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
	(In thousands)
Treasury discount notes	$	112,291	$	3	$	(3	)	$	112,291
Commercial paper	10,955		—		—			10,955
Total available-for-sale marketable debt securities	$	123,246	$	3	$	(3	)	$	123,246

At December 31, 2019, current available-for-sale marketable debt securities are as follows:

	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
	(In thousands)
Commercial paper	$	19,993	$	—	$	—	$	19,993
Total available-for-sale marketable debt securities	$	19,993	$	—	$	—	$	19,993

Schedule of Proceeds from Maturities and Sales of Current Available-for-sale Marketable Securities

The following table presents the proceeds from maturities of available-for-sale marketable debt securities:

	December 31,
	2019		2018		2017
	(In thousands)
Proceeds from maturities of available-for-sale marketable debt securities	$	163,500	$	333,600	$	114,350

Schedule of Long-term Investments

Long-term investments consist of:

	December 31,
	2019		2018
	(In thousands)
Equity securities without readily determinable fair values	$	353,052	$	235,055
Total long-term investments	$	353,052	$	235,055

Schedule of Realized and Unrealized Gains (Losses) on Investments

	Years Ended December 31,
	2019			2018
	(In thousands)
Upward adjustments (gross unrealized gains)	$	19,698		$	128,986
Downward adjustments including impairments (gross unrealized losses)	(5,193		)	(4,931		)
Total	$	14,505		$	124,055

The cumulative upward and downward adjustments (including impairments) to the carrying value of equity securities without readily determinable fair values held at December 31, 2019 were $19.9 million and $7.0 million, respectively.

Realized and unrealized gains and losses for the Company's marketable equity security and investments without readily determinable fair values for the years ended December 31, 2019 and 2018 are as follows:

	Years Ended December 31,
	2019		2018
	(In thousands)
Realized gains, net, for equity securities sold	$	23,076	$	27,874
Unrealized gains, net, on equity securities held	14,505		124,170
Total gains recognized, net, in other income (expense), net	$	37,581	$	152,044

Schedule of Financial Instruments Measured at Fair Value on Recurring Basis

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

	December 31, 2019
	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	$	2,164,576	$	—	$	—		$	2,164,576
Treasury discount notes	—		199,896		—			199,896
Time deposits	—		128,075		—			128,075
Commercial paper	—		29,960		—			29,960
Marketable securities:
Commercial paper	—		19,993		—			19,993
Other non-current assets:
Warrant	—		—		8,495			8,495
Total	$	2,164,576	$	377,924	$	8,495		$	2,550,995
Liabilities:
Contingent consideration arrangements	$	—	$	—	$	(6,918	)	$	(6,918	)

	December 31, 2018
	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	$	880,815	$	—	$	—		$	880,815
Treasury discount notes	—		561,733		—			561,733
Commercial paper	—		162,417		—			162,417
Time deposits	—		90,036		—			90,036
Marketable securities:
Treasury discount notes	—		112,291		—			112,291
Commercial paper	—		10,955		—			10,955
Marketable equity security	419		—		—			419
Total	$	881,234	$	937,432	$	—		$	1,818,666
Liabilities:
Contingent consideration arrangements	$	—	$	—	$	(28,631	)	$	(28,631	)

Schedule of Unobservable Inputs in Fair Value Measurement

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

	Years Ended December 31,
	2019						2018
	Warrant			Contingent Consideration Arrangements			Contingent Consideration Arrangements
	(In thousands)
Balance at January 1	$	—		$	(28,631	)	$	(2,647	)
Fair value at date of acquisition	17,618			—			(25,521		)
Total net (losses) gains:
Included in earnings:
Fair value adjustments	(9,123		)	19,739			(1,456		)
Included in other comprehensive (loss) income	—			(14		)	45
Settlements	—			1,988			948
Balance at December 31	$	8,495		$	(6,918	)	$	(28,631	)

Schedule of 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:

	December 31, 2019						December 31, 2018
	Carrying Value			Fair Value			Carrying Value			Fair Value
	(In thousands)
Current portion of long-term debt	$	(13,750	)	$	(13,681	)	$	(13,750	)	$	(12,753	)
Long-term debt, net(a)	(3,121,572		)	(4,136,988		)	(2,245,548		)	(2,460,204		)

_________________

^(a) 

At December 31, 2019 and 2018, the carrying value of long-term debt, net includes unamortized original issue discount and debt issuance costs of $404.7 million and $88.9 million, respectively.