XML 33 R23.htm IDEA: XBRL DOCUMENT
v3.22.1

Fair Value Measurement and Financial Instruments (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2022
Fair Value Disclosures [Abstract] |
Schedule of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value | The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis (in thousands):
| As of December 31, 2021
| Level 1 | Level 2 | Level 3 | Total
Assets |  |  |  |
Cash equivalents: |  |  |  |
Money market funds | $ | 1,923,184 |  | $ | — |  | $ | — |  | $ | 1,923,184 |
Certificates of deposit | 31,117 |  | — |  | — |  | 31,117 |
Commercial paper | — |  | 163,959 |  | — |  | 163,959 |
Corporate debt securities | — |  | 41,439 |  | — |  | 41,439 |
| 1,954,301 |  | 205,398 |  | — |  | 2,159,699 |
Marketable securities: |  |  |  |
Certificates of deposit | 364,234 |  | — |  | — |  | 364,234 |
U.S. government and government agency debt securities | — |  | 863 |  | — |  | 863 |
Commercial paper | — |  | 993,004 |  | — |  | 993,004 |
Corporate debt securities | — |  | 862,901 |  | — |  | 862,901 |
Mortgage-backed and asset-backed securities | — |  | 34,036 |  | — |  | 34,036 |
| 364,234 |  | 1,890,804 |  | — |  | 2,255,038 |
Funds receivable and amounts held on behalf of customers: |  |  |  |
Money market funds | 466,319 |  | — |  | — |  | 466,319 |
Prepaids and other current assets: |  |  |  |
Foreign exchange derivative assets | — |  | 25,918 |  | — |  | 25,918 |
Other assets, noncurrent: |  |  |  |
Corporate debt securities | — |  | — |  | 10,451 |  | 10,451 |
Total assets at fair value | $ | 2,784,854 |  | $ | 2,122,120 |  | $ | 10,451 |  | $ | 4,917,425 |
Liabilities |  |  |  |
Accrued expenses and other current liabilities: |  |  |  |
Foreign exchange derivative liabilities | $ | — |  | $ | 10,280 |  | $ | — |  | $ | 10,280 |
Total liabilities at fair value | $ | — |  | $ | 10,280 |  | $ | — |  | $ | 10,280 |
| As of March 31, 2022
| Level 1 | Level 2 | Level 3 | Total
Assets |  |  |  |
Cash equivalents: |  |  |  |
Money market funds | $ | 2,484,384 |  | $ | — |  | $ | — |  | $ | 2,484,384 |
Certificates of deposit | 60,919 |  | — |  | — |  | 60,919 |
Commercial paper | — |  | 265,857 |  | — |  | 265,857 |
Corporate debt securities | — |  | 35,914 |  | — |  | 35,914 |
| 2,545,303 |  | 301,771 |  | — |  | 2,847,074 |
Marketable securities: |  |  |  |
Certificates of deposit | 472,750 |  | — |  | — |  | 472,750 |
U.S. government and government agency debt securities | — |  | 350,450 |  | — |  | 350,450 |
Commercial paper | — |  | 838,815 |  | — |  | 838,815 |
Corporate debt securities | — |  | 741,971 |  | — |  | 741,971 |
Mortgage-backed and asset-backed securities | — |  | 31,675 |  | — |  | 31,675 |
| 472,750 |  | 1,962,911 |  | — |  | 2,435,661 |
Funds receivable and amounts held on behalf of customers: |  |  |  |
Money market funds | 1,203,019 |  | — |  | — |  | 1,203,019 |
U.S. government and government agency debt securities | — |  | 113,981 |  | — |  | 113,981 |
Prepaids and other current assets: |  |  |  |
Foreign exchange derivative assets | — |  | 16,129 |  | — |  | 16,129 |
Other assets, noncurrent: |  |  |  |
Corporate debt securities | — |  | — |  | 10,511 |  | 10,511 |
Total assets at fair value | $ | 4,221,072 |  | $ | 2,394,792 |  | $ | 10,511 |  | $ | 6,626,375 |
Liabilities |  |  |  |
Accrued expenses and other current liabilities: |  |  |  |
Foreign exchange derivative liabilities | $ | — |  | $ | 24,452 |  | $ | — |  | $ | 24,452 |
Total liabilities at fair value | $ | — |  | $ | 24,452 |  | $ | — |  | $ | 24,452 |
Schedule of Fair Value Assets Measured on Recurring Basis, Rollforward | The following table presents additional information about investments that are measured at fair value for which the Company has utilized Level 3 inputs to determine fair value (in thousands):
|  | December 31, 2021 |  | March 31, 2022
|  | Other Assets, Noncurrent
Balance, beginning of period |  | $ | 11,490 |  |  | $ | 10,451 |
Total realized and unrealized gains (losses): |  |  |  |
Included in earnings |  | — |  |  | — |
Included in other comprehensive loss |  | (1,039) |  |  | 60 |
Balance, end of period |  | $ | 10,451 |  |  | $ | 10,511 |
Changes in unrealized gains or losses included in other comprehensive loss related to investments held at the reporting date |  | $ | (1,039) |  |  | $ | 60 |
Schedule of Fair Value Liabilities Measured on Recurring Basis, Rollforward | The following table presents additional information about investments that are measured at fair value for which the Company has utilized Level 3 inputs to determine fair value (in thousands):
|  | December 31, 2021 |  | March 31, 2022
|  | Other Assets, Noncurrent
Balance, beginning of period |  | $ | 11,490 |  |  | $ | 10,451 |
Total realized and unrealized gains (losses): |  |  |  |
Included in earnings |  | — |  |  | — |
Included in other comprehensive loss |  | (1,039) |  |  | 60 |
Balance, end of period |  | $ | 10,451 |  |  | $ | 10,511 |
Changes in unrealized gains or losses included in other comprehensive loss related to investments held at the reporting date |  | $ | (1,039) |  |  | $ | 60 |

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration