| Classes of Financial Assets and Financial Liabilities Measured and Recorded at Fair Value on Recurring Basis |
The following table summarizes financial assets and financial liabilities that are measured and recorded in the consolidated financial statements at fair value on a recurring basis:
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Total Fair
Value
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Fair Value Measurement Using (a)
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(In thousands) |
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Level 1 |
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Level 2 |
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Level 3 |
March 2019 |
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Financial assets: |
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Cash equivalents: |
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Money market funds |
$ |
248,560 |
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$ |
248,560 |
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$ |
— |
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$ |
— |
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Time deposits |
8,257 |
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8,257 |
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— |
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— |
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Derivative financial instruments |
92,771 |
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— |
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92,771 |
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— |
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Investment securities |
186,698 |
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176,209 |
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10,489 |
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— |
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Financial liabilities: |
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Derivative financial instruments |
22,337 |
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— |
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22,337 |
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— |
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Deferred compensation |
199,336 |
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— |
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199,336 |
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— |
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Total Fair
Value
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Fair Value Measurement Using (a)
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(In thousands) |
|
Level 1 |
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Level 2 |
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Level 3 |
March 2018 |
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Financial assets: |
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Cash equivalents: |
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Money market funds |
$ |
185,118 |
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$ |
185,118 |
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$ |
— |
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$ |
— |
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Time deposits |
7,714 |
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7,714 |
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— |
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— |
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Derivative financial instruments |
31,400 |
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— |
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31,400 |
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— |
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Investment securities |
194,160 |
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183,802 |
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10,358 |
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— |
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Financial liabilities: |
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Derivative financial instruments |
106,174 |
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— |
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106,174 |
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— |
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Deferred compensation |
227,808 |
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— |
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227,808 |
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— |
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Total Fair
Value
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Fair Value Measurement Using (a)
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(In thousands) |
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Level 1 |
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Level 2 |
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Level 3 |
December 2017 |
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Financial assets: |
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Cash equivalents: |
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Money market funds |
$ |
265,432 |
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$ |
265,432 |
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$ |
— |
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$ |
— |
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Time deposits |
13,591 |
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13,591 |
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— |
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— |
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Derivative financial instruments |
22,970 |
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— |
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22,970 |
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— |
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Investment securities |
197,837 |
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185,723 |
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12,114 |
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— |
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Financial liabilities: |
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Derivative financial instruments |
100,038 |
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— |
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100,038 |
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— |
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Deferred compensation |
235,359 |
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— |
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235,359 |
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— |
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(a) |
There were no transfers among the levels within the fair value hierarchy during the year ended March 2019, the three months ended March 2018 or the year ended December 2017.
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