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FINANCIAL INSTRUMENTS | 12 Months Ended
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Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract] |
FINANCIAL INSTRUMENTS | FINANCIAL INSTRUMENTS The following tables show the Company’s cash, cash equivalents and available-for-sale securities by significant investment category as of December 31, 2024 and 2023, respectively:
| December 31, 2024
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Aggregate Fair Value |  | Cash and Cash Equivalents |  | Short-term Marketable Securities (1) |  | Long-term Marketable Securities (2)
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 329,619 |  |  | $ | — |  |  | $ | — |  |  | $ | 329,619 |  |  | $ | 329,619 |  |  | $ | — |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |
Money market instruments | 613,223 |  |  | — |  |  | — |  |  | 613,223 |  |  | 613,223 |  |  | — |  |  | — |
Corporate debt securities | 503,202 |  |  | 2,410 |  |  | (390) |  |  | 505,222 |  |  | — |  |  | 168,104 |  |  | 337,118 |
U.S. government agency securities | 72,027 |  |  | 359 |  |  | (33) |  |  | 72,353 |  |  | — |  |  | 896 |  |  | 71,457 |
Asset-backed securities | 138,508 |  |  | 363 |  |  | (344) |  |  | 138,527 |  |  | — |  |  | 25,864 |  |  | 112,663 |
Subtotal | 1,326,960 |  |  | 3,132 |  |  | (767) |  |  | 1,329,325 |  |  | 613,223 |  |  | 194,864 |  |  | 521,238 |
Total | $ | 1,656,579 |  |  | $ | 3,132 |  |  | $ | (767) |  |  | $ | 1,658,944 |  |  | $ | 942,842 |  |  | $ | 194,864 |  |  | $ | 521,238 |
| December 31, 2023
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Aggregate Fair Value |  | Cash and Cash Equivalents |  | Short-term Marketable Securities (1) |  | Long-term Marketable Securities (2)
Level 1: |  |  |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 229,676 |  |  | $ | — |  |  | $ | — |  |  | $ | 229,676 |  |  | $ | 229,676 |  |  | $ | — |  |  | $ | — |
Level 2: |  |  |  |  |  |  |  |  |  |  |  |  |
Money market instruments | 499,483 |  |  | — |  |  | — |  |  | 499,483 |  |  | 499,483 |  |  | — |  |  | — |
Corporate debt securities | 587,896 |  |  | 3,476 |  |  | (1,996) |  |  | 589,376 |  |  | — |  |  | 193,251 |  |  | 396,125 |
U.S. government agency securities | 251,952 |  |  | 556 |  |  | (1,140) |  |  | 251,368 |  |  | 19,976 |  |  | 111,343 |  |  | 120,049 |
Commercial paper | 20,076 |  |  | 5 |  |  | — |  |  | 20,081 |  |  | 5,992 |  |  | 14,089 |  |  | — |
Asset-backed securities | 94,744 |  |  | 351 |  |  | (134) |  |  | 94,961 |  |  | — |  |  | — |  |  | 94,961 |
Subtotal | 1,454,151 |  |  | 4,388 |  |  | (3,270) |  |  | 1,455,269 |  |  | 525,451 |  |  | 318,683 |  |  | 611,135 |
Total | $ | 1,683,827 |  |  | $ | 4,388 |  |  | $ | (3,270) |  |  | $ | 1,684,945 |  |  | $ | 755,127 |  |  | $ | 318,683 |  |  | $ | 611,135 |
(1)The Company’s short-term marketable securities mature in one year or less. (2)The Company’s long-term marketable securities mature between one and five years. As of December 31, 2024, the Company had the ability and intent to hold all investments that were in an unrealized loss position until maturity. The Company considered its intent and ability to hold the securities until recovery of amortized cost basis, the extent to which fair value is less than amortized cost basis, conditions specifically related to the security’s industry and geography, payment structure and history and changes to the ratings (if any) in determining that the decline in fair value compared to carrying value is not related to a credit loss. The Company has certain investments in non-marketable equity securities, measured using unobservable valuation inputs and remeasured on a nonrecurring basis, which are collectively considered strategic investments. As of December 31, 2024 and December 31, 2023, the fair value of the Company’s strategic investments was $6.6 million and $11.3 million, respectively. These investments were recorded in Other Assets on the Company’s Consolidated Balance Sheets. In the second quarter of 2024, based on new developments, the Company became aware of factors that indicated a $4.5 million decline in the fair value of one of its strategic investments. In 2023, based on new developments at the time, the Company concluded that factors existed indicating it would no longer realize a $12.6 million equity investment in its non-marketable securities. The losses on the Company's equity investments were recorded to Other Expense, Net on the Company’s Consolidated Statements of Income for the respective periods. See Note 1 to these Consolidated Financial Statements for additional discussion regarding the Company’s fair value measurements.

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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