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Financial Instruments | 12 Months Ended
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Dec. 31, 2022
Investments, Debt and Equity Securities [Abstract] |
Financial Instruments | Financial Instruments Restricted cash, cash equivalents, and short-term investments are recorded at fair value. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. To increase the comparability of fair value measures, the following hierarchy prioritizes the inputs to valuation methodologies used to measure fair value: •Level 1—Valuations based on quoted prices in active markets for identical assets or liabilities. •Level 2—Valuations based on quoted prices for similar assets and liabilities in active markets or inputs that are observable for the assets or liabilities, either directly or indirectly through market corroboration. •Level 3—Valuations based on unobservable inputs reflecting our own assumptions used to measure assets and liabilities at fair value. These valuations require significant judgment. The following table summarizes, by major security type, our restricted cash, cash equivalents, and short-term investments that are measured at fair value on a recurring basis and are categorized using the fair value hierarchy as of December 31, 2022 (in thousands):
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Level 1: |  |  |  |  |  |  |
Restricted cash and cash equivalents: |  |  |  |  |  |  |
Restricted cash | $ | 20,604 |  |  | $ | — |  |  | $ | — |  |  | $ | 20,604 |
Money market funds | 373,619 |  |  | — |  |  | — |  |  | 373,619 |
Time deposits | 412,125 |  |  | — |  |  | — |  |  | 412,125 |
Total restricted cash and cash equivalents | $ | 806,348 |  |  | $ | — |  |  | $ | — |  |  | $ | 806,348 |
Short-term investments: |  |  |  |  |  |  |
Short-term deposits | $ | 101,711 |  |  | $ | — |  |  | $ | — |  |  | $ | 101,711 |
Total short-term investments | $ | 101,711 |  |  | $ | — |  |  | $ | — |  |  | $ | 101,711 |
Cash equivalents and short-term investments consisted of the following as of December 31, 2021 (in thousands):
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
Level 1: |  |  |  |  |  |  |
Restricted cash and cash equivalents: |  |  |  |  |  |  |
Restricted cash | $ | 10,823 |  |  | $ | — |  |  | $ | — |  |  | $ | 10,823 |
Money market funds | 73,138 |  |  | — |  |  | — |  |  | 73,138 |
Total restricted cash and cash equivalents | $ | 83,961 |  |  | $ | — |  |  | $ | — |  |  | $ | 83,961 |
Level 2: |  |  |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |
Commercial paper | $ | 59,792 |  |  | $ | — |  |  | $ | — |  |  | $ | 59,792 |
Asset-backed securities | 40,965 |  |  | — |  |  | (23) |  |  | 40,942 |
Corporate bonds | 237,735 |  |  | 20 |  |  | (353) |  |  | 237,402 |
U.S. treasury securities | 272,678 |  |  | 1 |  |  | (379) |  |  | 272,300 |
Supranational bonds | 71,121 |  |  | 1 |  |  | (235) |  |  | 70,887 |
Total short-term investments | $ | 682,291 |  |  | $ | 22 |  |  | $ | (990) |  |  | $ | 681,323 |
We did not recognize any credit losses related to our available-for-sale debt securities during the years ended December 31, 2022 and 2021. There were no material realized or unrealized gains or losses, either individually or in the aggregate, during the years ended December 31, 2022 and 2021. During the year ended December 31, 2022, we sold the entirety of our available-for-sale debt securities portfolio. Nonrecurring Fair Value Measurements We hold equity investments in certain unconsolidated entities without a readily determinable fair value. These strategic investments represent less than a 20% ownership interest in each of the entities, and we do not have significant influence over or control of the entities. At December 31, 2022, equity investments totaled $31.1 million. Approximately $15.6 million of these equity investments were measured at cost. As part of the merger with ironSource, $15.5 million of these equity investments were measured at fair value using the market approach.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI https://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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