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Fair value of financial instruments (Tables)
9 Months Ended
Sep. 30, 2021
Fair Value of Financial Instruments  
Schedule of fair value of assets measured on recurring basis

The following fair value hierarchy table presents information about each major category of our financial assets measured at fair value on a recurring basis (in thousands):

Fair Value Measurement at Reporting Date Using:

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable

Unobservable

Identical Assets

Inputs

Inputs

Balance as of

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

September 30, 2021

 

Cash and cash equivalents

$

1,999,021

$

$

$

1,999,021

Debt securities (government)

 

 

285,054

 

 

285,054

Long term investments (Note 9)

 

192,096

 

 

 

192,096

Total assets

$

2,191,117

$

285,054

$

$

2,476,171

Fair Value Measurement at Reporting Date Using:

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable

Unobservable

Identical Assets

Inputs

Inputs

Balance as of

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

December 31, 2020

 

Cash and cash equivalents

$

1,513,008

$

$

$

1,513,008

Debt securities (government)

 

288,369

 

288,369

Long term investments (Note 9)

 

222,301

 

 

 

222,301

Total assets

$

1,735,309

$

288,369

$

$

2,023,678

Schedule of fair value of liabilities measured on recurring basis

The following fair value hierarchy table presents information about each major category of our financial liabilities measured at fair value on a recurring basis as (in thousands):

Fair Value Measurement at Reporting Date Using:

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable

Unobservable

                                

Identical Liabilities

Inputs

Inputs

Balance as of

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

September 30, 2021

Acquisition-related contingent consideration

$

$

$

252,000

$

252,000

Total liabilities

$

$

$

252,000

$

252,000

Fair Value Measurement at Reporting Date Using:

Quoted Prices in

Significant Other

Significant

Active Markets for

Observable

Unobservable

Identical Liabilities

Inputs

Inputs

Balance as of

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

December 31, 2020

Acquisition-related contingent consideration

$

$

$

266,000

$

266,000

Total liabilities

$

$

$

266,000

$

266,000

Schedule of roll forward of Level 3 liabilities

The following is a rollforward of our Level 3 liabilities (in thousands):

2021

Balance at January 1,

$

266,000

Contingent consideration earned during the period but not yet paid

(9,910)

Payments made during the period

(17,158)

Change in fair value of contingent consideration

13,068

Balance at September 30,

$

252,000

Summary of marketable securities portfolio

The following is a summary of our marketable security portfolio for the periods presented (in thousands):

Net

Net

Amortized

Unrealized

Unrealized

Estimated

    

Cost

    

Gains

    

Losses

    

Fair Value

 

September 30, 2021

    

    

    

    

Debt securities (government)

$

285,135

$

$

(81)

$

285,054

December 31, 2020

Debt securities (government)

$

288,199

$

170

$

$

288,369