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8. Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2025
Fair Value Disclosures [Abstract] |
Fair value of assets and liabilities measured on a recurring basis | At March 31, 2025 and December 31, 2024, the fair value measurements of our assets and liabilities measured on a recurring basis were as follows (in thousands):
|  |  |  | Fair Value Measurements at Reporting Date Using
|  | March 31, 2025 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 245,734 |  |  | $ | 245,734 |  |  | $ | — |  |  | $ | — |
Restricted cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | 2,761 |  |  | 2,761 |  |  | — |  |  | — |
Marketable securities: |  |  |  |  |  |  |  |
Time deposits |  | 44,199 |  |  | 44,199 |  |  | — |  |  | — |
U.S. debt |  | 8,920 |  |  | — |  |  | 8,920 |  |  | — |
Restricted marketable securities |  | 210,555 |  |  | — |  |  | 210,555 |  |  | — |
Derivative assets |  | 1,195 |  |  | — |  |  | 1,195 |  |  | — |
Total assets |  | $ | 513,364 |  |  | $ | 292,694 |  |  | $ | 220,670 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |
Derivative liabilities |  | $ | 16,585 |  |  | $ | — |  |  | $ | 16,585 |  |  | $ | — |
Contingent consideration |  | 6,500 |  |  | — |  |  | — |  |  | 6,500 |
Total liabilities |  | $ | 23,085 |  |  | $ | — |  |  | $ | 16,585 |  |  | $ | 6,500 |
|  |  |  | Fair Value Measurements at Reporting Date Using
|  | December 31, 2024 |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3)
Assets: |  |  |  |  |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 526,580 |  |  | $ | 526,580 |  |  | $ | — |  |  | $ | — |
Restricted cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | 4,972 |  |  | 4,972 |  |  | — |  |  | — |
Marketable securities: |  |  |  |  |  |  |  |
Time deposits |  | 162,836 |  |  | 162,836 |  |  | — |  |  | — |
U.S. debt |  | 8,747 |  |  | — |  |  | 8,747 |  |  | — |
Restricted marketable securities |  | 199,136 |  |  | — |  |  | 199,136 |  |  | — |
Derivative assets |  | 13,452 |  |  | — |  |  | 13,452 |  |  | — |
Total assets |  | $ | 915,723 |  |  | $ | 694,388 |  |  | $ | 221,335 |  |  | $ | — |
Liabilities: |  |  |  |  |  |  |  |
Derivative liabilities |  | $ | 18,619 |  |  | $ | — |  |  | $ | 18,619 |  |  | $ | — |
Contingent consideration |  | 6,500 |  |  | — |  |  | — |  |  | 6,500 |
Total liabilities |  | $ | 25,119 |  |  | $ | — |  |  | $ | 18,619 |  |  | $ | 6,500 |
Carrying value and fair value of financial instruments not measured at fair value | At March 31, 2025 and December 31, 2024, the carrying values and fair values of our financial instruments not measured at fair value were as follows (in thousands):
|  | March 31, 2025 |  | December 31, 2024
|  | Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Assets: |  |  |  |  |  |  |  |
Government grants receivable – noncurrent |  | $ | 430,277 |  |  | $ | 400,445 |  |  | $ | 157,570 |  |  | $ | 123,743 |
Liabilities: |  |  |  |  |  |  |  |
Long-term debt, including current maturities (1) |  | $ | 419,101 |  |  | $ | 403,083 |  |  | $ | 464,550 |  |  | $ | 441,016 |
—————————— (1)Excludes unamortized issuance costs and debt arrangements with an original maturity of less than one year.

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147482907/825-10-50-11 + Details
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- 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/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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