Fair value measurement (Tables)

12 Months Ended

Dec. 31, 2020

Fair Value Disclosures [Abstract]

Financial Assets and Liabilities Carried at Fair Value Measured on Recurring Basis

The following tables provide information regarding our financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2020 and 2019:

	Basis of fair value measurement
	December 31, 2020		(Level 1)		(Level 2)		(Level 3)
Investments in marketable securities	$	12,617	$	12,617	$	—	$	—
Derivative assets	21,858		—		21,858		—
Derivative liabilities	35,995		—		35,995		—
Contingent consideration liabilities	36,633		—		—		36,633

	Basis of fair value measurement
	December 31, 2019		(Level 1)		(Level 2)		(Level 3)
Investments in marketable securities	$	10,926	$	10,926	$	—	$	—
Derivative assets	36,492		—		36,492		—
Derivative liabilities	1,387		—		1,387		—
Contingent consideration liabilities	219,908		—		—		219,908

There were no transfers of financial assets or liabilities into or out of Level 3 within the fair value hierarchy during the years ended December 31, 2020 or 2019.

Schedule of Valuation Techniques

The table below provides additional information regarding the valuation technique and inputs used in determining the fair value of contingent consideration.

Contingent Consideration Liability	Valuation Technique	Unobservable Input	Range (Weighted average)
Milestone-based payment
	Discounted cash flow	Discount rate	1.3% - 2.3% (1.5%)
		Projected year of payment	2021 - 2023
Revenue-based
	Monte Carlo simulation	Revenue volatility	22.4%
		Risk free rate	Cost of debt structure
		Projected year of payment	2021 - 2022
	Discounted cash flow	Discount rate	6.5% - 10.0% (9.1%)
		Projected year of payment	2021 - 2029

Reconciliation of Changes in Level 3 Financial Liabilities Measured at Fair Value on Recurring Basis

The following table provides information regarding changes in our contingent consideration liabilities for the years ended December 31, 2020 and 2019:

	2020		2019
Beginning balance – January 1	$	219,908	$	304,248
Payments (1)	(146,971)		(138,171)
Initial estimate upon acquisition and revaluations	(36,714)		53,915
Translation adjustment	410		(84)
Ending balance – December 31	$	36,633	$	219,908

(1) Consists mainly of a $140.6 million payment associated with our acquisition of NeoTract, Inc. ("Neotract") and resulting from the achievement of a revenue-based goal for the period from January 1, 2019 to December 31, 2019.