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v3.22.1

Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2022
Investments, All Other Investments [Abstract] |
Cash and Cash Equivalents | The following tables summarize our cash and cash equivalents, and marketable securities on our Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 (in thousands):
|  |  |  |  |  |  |  |  |  | Reported as:
March 31, 2022 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable securities, short-term |  | Marketable securities, long-term
Cash |  | $ | 689,175 |  |  | $ | — |  |  | $ | — |  |  | $ | 689,175 |  |  | $ | 689,175 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 236,960 |  |  | — |  |  | (16) |  |  | 236,944 |  |  | 236,944 |  |  | — |  |  | — |
Corporate bonds |  | 116,307 |  |  | 3 |  |  | (2,389) |  |  | 113,921 |  |  | — |  |  | 41,164 |  |  | 72,757 |
U.S. government treasury bonds |  | 46,638 |  |  | — |  |  | (511) |  |  | 46,127 |  |  | — |  |  | 31,055 |  |  | 15,072 |
Asset-backed securities |  | 27,453 |  |  | — |  |  | (197) |  |  | 27,256 |  |  | — |  |  | 10,984 |  |  | 16,272 |
Municipal bonds |  | 6,049 |  |  | — |  |  | (77) |  |  | 5,972 |  |  | — |  |  | 3,546 |  |  | 2,426 |
U.S. government agency bonds |  | 1,204 |  |  | — |  |  | (36) |  |  | 1,168 |  |  | — |  |  | — |  |  | 1,168 |
Total |  | $ | 1,123,786 |  |  | $ | 3 |  |  | $ | (3,226) |  |  | $ | 1,120,563 |  |  | $ | 926,119 |  |  | $ | 86,749 |  |  | $ | 107,695 |
|  |  |  |  |  |  |  |  |  | Reported as:
December 31, 2021 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable securities, short-term |  | Marketable securities, long-term
Cash |  | $ | 754,802 |  |  | $ | — |  |  | $ | — |  |  | $ | 754,802 |  |  | $ | 754,802 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 343,012 |  |  | — |  |  | (2) |  |  | 343,010 |  |  | 343,010 |  |  | — |  |  | — |
Corporate bonds |  | 115,507 |  |  | 9 |  |  | (398) |  |  | 115,118 |  |  | 1,042 |  |  | 35,065 |  |  | 79,011 |
U.S. government treasury bonds |  | 42,976 |  |  | — |  |  | (48) |  |  | 42,928 |  |  | — |  |  | 22,251 |  |  | 20,677 |
Asset-backed securities |  | 32,031 |  |  | — |  |  | (40) |  |  | 31,991 |  |  | — |  |  | 10,999 |  |  | 20,992 |
Municipal bonds |  | 7,628 |  |  | — |  |  | (15) |  |  | 7,613 |  |  | 516 |  |  | 3,657 |  |  | 3,440 |
U.S. government agency bonds |  | 1,201 |  |  | — |  |  | (1) |  |  | 1,200 |  |  | — |  |  | — |  |  | 1,200 |
Total |  | $ | 1,297,157 |  |  | $ | 9 |  |  | $ | (504) |  |  | $ | 1,296,662 |  |  | $ | 1,099,370 |  |  | $ | 71,972 |  |  | $ | 125,320 |
Marketable Securities | The following tables summarize our cash and cash equivalents, and marketable securities on our Consolidated Balance Sheets as of March 31, 2022 and December 31, 2021 (in thousands):
|  |  |  |  |  |  |  |  |  | Reported as:
March 31, 2022 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable securities, short-term |  | Marketable securities, long-term
Cash |  | $ | 689,175 |  |  | $ | — |  |  | $ | — |  |  | $ | 689,175 |  |  | $ | 689,175 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 236,960 |  |  | — |  |  | (16) |  |  | 236,944 |  |  | 236,944 |  |  | — |  |  | — |
Corporate bonds |  | 116,307 |  |  | 3 |  |  | (2,389) |  |  | 113,921 |  |  | — |  |  | 41,164 |  |  | 72,757 |
U.S. government treasury bonds |  | 46,638 |  |  | — |  |  | (511) |  |  | 46,127 |  |  | — |  |  | 31,055 |  |  | 15,072 |
Asset-backed securities |  | 27,453 |  |  | — |  |  | (197) |  |  | 27,256 |  |  | — |  |  | 10,984 |  |  | 16,272 |
Municipal bonds |  | 6,049 |  |  | — |  |  | (77) |  |  | 5,972 |  |  | — |  |  | 3,546 |  |  | 2,426 |
U.S. government agency bonds |  | 1,204 |  |  | — |  |  | (36) |  |  | 1,168 |  |  | — |  |  | — |  |  | 1,168 |
Total |  | $ | 1,123,786 |  |  | $ | 3 |  |  | $ | (3,226) |  |  | $ | 1,120,563 |  |  | $ | 926,119 |  |  | $ | 86,749 |  |  | $ | 107,695 |
|  |  |  |  |  |  |  |  |  | Reported as:
December 31, 2021 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable securities, short-term |  | Marketable securities, long-term
Cash |  | $ | 754,802 |  |  | $ | — |  |  | $ | — |  |  | $ | 754,802 |  |  | $ | 754,802 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 343,012 |  |  | — |  |  | (2) |  |  | 343,010 |  |  | 343,010 |  |  | — |  |  | — |
Corporate bonds |  | 115,507 |  |  | 9 |  |  | (398) |  |  | 115,118 |  |  | 1,042 |  |  | 35,065 |  |  | 79,011 |
U.S. government treasury bonds |  | 42,976 |  |  | — |  |  | (48) |  |  | 42,928 |  |  | — |  |  | 22,251 |  |  | 20,677 |
Asset-backed securities |  | 32,031 |  |  | — |  |  | (40) |  |  | 31,991 |  |  | — |  |  | 10,999 |  |  | 20,992 |
Municipal bonds |  | 7,628 |  |  | — |  |  | (15) |  |  | 7,613 |  |  | 516 |  |  | 3,657 |  |  | 3,440 |
U.S. government agency bonds |  | 1,201 |  |  | — |  |  | (1) |  |  | 1,200 |  |  | — |  |  | — |  |  | 1,200 |
Total |  | $ | 1,297,157 |  |  | $ | 9 |  |  | $ | (504) |  |  | $ | 1,296,662 |  |  | $ | 1,099,370 |  |  | $ | 71,972 |  |  | $ | 125,320 |
Contractual Maturity of Marketable Securities | The following table summarizes the fair value of our available-for-sale marketable securities classified by contractual maturity as of March 31, 2022 and December 31, 2021 (in thousands):
|  | March 31, 2022 |  | December 31, 2021
Due in 1 year or less |  | $ | 67,225 |  |  | $ | 59,737 |
Due in 1 year through 5 years |  | $ | 127,219 |  |  | 139,113 |
Total |  | $ | 194,444 |  |  | $ | 198,850 |
Financial Assets Measured At Fair Value On A Recurring Basis | The following tables summarize our financial assets measured at fair value as of March 31, 2022 and December 31, 2021 (in thousands):
Description |  | Balance as of March 31, 2022 |  | Level 1 |  | Level 2 |  | Level 3 |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 236,944 |  |  | $ | 236,944 |  |  | $ | — |  |  | $ | — |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government treasury bonds |  | 31,055 |  |  | 31,055 |  |  | — |  |  | — |  |  |  |  |
Corporate bonds |  | 41,164 |  |  | — |  |  | 41,164 |  |  | — |  |  |  |  |
Municipal bonds |  | 3,546 |  |  | — |  |  | 3,546 |  |  | — |  |  |  |  |
Asset-backed securities |  | 10,984 |  |  | — |  |  | 10,984 |  |  | — |  |  |  |  |
Long-term investments: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government treasury bonds |  | 15,072 |  |  | 15,072 |  |  | — |  |  | — |  |  |  |  |
Corporate bonds |  | 72,757 |  |  | — |  |  | 72,757 |  |  | — |  |  |  |  |
Municipal bonds |  | 2,426 |  |  | — |  |  | 2,426 |  |  | — |  |  |  |  |
U.S. government agency bonds |  | 1,168 |  |  | — |  |  | 1,168 |  |  | — |  |  |  |  |
Asset-backed securities |  | 16,272 |  |  | — |  |  | 16,272 |  |  | — |  |  |  |  |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |
Investments in privately held companies |  | 11,225 |  |  | — |  |  | — |  |  | 11,225 |  |  |  |  |
|  | $ | 442,613 |  |  | $ | 283,071 |  |  | $ | 148,317 |  |  | $ | 11,225 |  |  |  |  |
Description |  | Balance as of December 31, 2021 |  | Level 1 |  | Level 2 |  | Level 3
Cash equivalents: |  |  |  |  |  |  |  |
Money market funds |  | $ | 343,010 |  |  | $ | 343,010 |  |  | $ | — |  |  | $ | — |
Corporate bonds |  | 1,042 |  |  | — |  |  | 1,042 |  |  | — |
Municipal bonds |  | 516 |  |  | — |  |  | 516 |  |  | — |
Short-term investments: |  |  |  |  |  |  |  |
U.S. government treasury bonds |  | 22,251 |  |  | 22,251 |  |  | — |  |  | — |
Corporate bonds |  | 35,065 |  |  | — |  |  | 35,065 |  |  | — |
Municipal bonds |  | 3,657 |  |  | — |  |  | 3,657 |  |  | — |
Asset-backed securities |  | 10,999 |  |  | — |  |  | 10,999 |  |  | — |
Long-term investments: |  |  |  |  |  |  |  |
U.S. government treasury bonds |  | 20,677 |  |  | 20,677 |  |  | — |  |  | — |
Corporate bonds |  | 79,011 |  |  | — |  |  | 79,011 |  |  | — |
Municipal bonds |  | 3,440 |  |  | — |  |  | 3,440 |  |  | — |
U.S. government agency bonds |  | 1,200 |  |  | — |  |  | 1,200 |  |  | — |
Asset-backed securities |  | 20,992 |  |  | — |  |  | 20,992 |  |  | — |
Prepaid expenses and other current assets: |  |  |  |  |  |  |  |
Israeli funds |  | 3,841 |  |  | — |  |  | 3,841 |  |  | — |
Other assets: |  |  |  |  |  |  |  |
Investments in privately held companies |  | 8,621 |  |  | — |  |  | — |  |  | 8,621 |
|  | $ | 554,322 |  |  | $ | 385,938 |  |  | $ | 159,763 |  |  | $ | 8,621 |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following tables present the gross notional value of all our foreign exchange forward contracts outstanding as of March 31, 2022 and December 31, 2021 (in thousands):
| March 31, 2022
| Local Currency Amount |  | Notional Contract Amount (USD)
Euro | €189,795 |  | $ | 210,031 |
Chinese Yuan | ¥520,500 |  | 81,862 |
Polish Zloty | PLN324,500 |  | 77,086 |
Canadian Dollar | C$96,000 |  | 76,733 |
Brazilian Real | R$323,700 |  | 67,665 |
Japanese Yen | ¥5,666,200 |  | 46,621 |
British Pound | £32,275 |  | 42,394 |
Russian Ruble | ₽3,700,000 |  | 35,885 |
Swiss Franc | CHF17,270 |  | 18,692 |
Israeli Shekel | ILS54,210 |  | 17,085 |
Mexican Peso | M$281,560 |  | 14,127 |
Australian Dollar | A$5,000 |  | 3,748 |
|  |  | $ | 691,929 |
| December 31, 2021
| Local Currency Amount |  | Notional Contract Amount (USD)
Euro | €165,110 |  | $ | 186,358 |
Canadian Dollar | C$99,800 |  | 78,018 |
Chinese Yuan | ¥494,500 |  | 77,358 |
Polish Zloty | PLN219,800 |  | 54,014 |
Brazilian Real | R$286,500 |  | 50,894 |
Japanese Yen | ¥5,548,700 |  | 48,206 |
British Pound | £34,740 |  | 46,881 |
Israeli Shekel | ILS54,110 |  | 17,416 |
Mexican Peso | M$311,500 |  | 15,133 |
Swiss Franc | CHF9,950 |  | 10,883 |
Australian Dollar | A$6,900 |  | 5,009 |
|  |  | $ | 590,170 |

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