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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Measurements [Abstract]

Schedule of Cash, Cash Equivalents and Debt Investments by Significant Category

	December 31, 2023
	Adjusted cost			Unrealized Gains			Unrealized Losses			Fair Value			Cash and Cash Equivalents			Current Investments			Long-term Investments
Cash	$	128,458		$	-		$	-		$	128,458		$	128,458		$	-		$	-
Level 1(1)
Money market funds		355,872			-			-			355,872			355,872			-			-
Time deposits		76,279			-			-			76,279			76,279			-			-
U.S. Treasury securities		1,200,658			4,352			4,083			1,200,927			-			731,339			469,319
Corporate debt securities		19,755			13			7			19,761			-			-			19,755
Subtotal		1,652,564			4,365			4,090			1,652,839			432,151			731,339			489,074
Level 3
Corporate debt security(2)		17,401			-			27			17,374			-			999			16,402
Notes receivable(3)		14,500			1,289			141			15,648			-			2,500			13,148
Subtotal		31,901			1,289			168			33,022			-			3,499			29,550
Total	$	1,812,923		$	5,654		$	4,258		$	1,814,319		$	560,609		$	734,838		$	518,624
	December 31, 2022
	Adjusted cost			Unrealized Gains			Unrealized Losses			Fair Value			Cash and Cash Equivalents			Current Investments			Long-term Investments
Cash	$	75,829		$	-		$	-		$	75,829		$	75,829		$	-		$	-
Level 1(1)
Money market funds		232,477			-			-			232,477			232,477			-			-
Time deposits		75,694			-			-			75,694			75,694			-			-
U.S. Treasury securities		847,354			63			14,355			833,062			-			515,136			332,218
Subtotal		1,155,525			63			14,355			1,141,233			308,171			515,136			332,218
Level 3
Corporate debt security(2)		17,900			-			700			17,200			-			-			17,900
Note receivable(3)		4,860			222			-			5,082			-			-			5,082
Subtotal		22,760			222			700			22,282			-			-			22,982
Total	$	1,254,114		$	285		$	15,055		$	1,239,344		$	384,000		$	515,136		$	355,200

⁽¹⁾ Level 1: Quoted prices in active markets for identical assets or liabilities that the entity has the ability to access.

⁽²⁾ The fair value of the corporate debt security is measured using Level 3 (unobservable) inputs. We determined the fair value for the corporate debt security using an internally-developed valuation model and unobservable inputs include credit and liquidity spreads and effective maturity.

⁽³⁾ We have elected to measure our investments in convertible notes receivable of private companies at fair value under the fair value option. The fair value of the notes receivable is measured using Level 3 (unobservable) inputs. We determined the fair value for the notes receivable using an internally-developed valuation model and unobservable inputs include estimates of the equity value of the underlying business and the timing and probability of future financing events.

Summary of Assets Measured at Fair Value on Nonrecurring Basis

		Carrying Value
		December 31,
	Level	2023			2022
Leasehold improvements, property and equipment, net	3	$	3,571		$	264
Operating lease assets	3		4,505			713
Total		$	8,076		$	977

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Schedule of Cash, Cash Equivalents and Debt Investments by Significant Category

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Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)
-SubTopic 10
-Topic 820
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