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Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 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 June 30, 2022 and December 31, 2021 (in thousands):
|  |  |  |  |  |  |  |  |  | Reported as:
June 30, 2022 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable securities, short-term |  | Marketable securities, long-term
Cash |  | $ | 758,365 |  |  | $ | — |  |  | $ | — |  |  | $ | 758,365 |  |  | $ | 758,365 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 119,148 |  |  | — |  |  | (12) |  |  | 119,136 |  |  | 119,136 |  |  | — |  |  | — |
Corporate bonds |  | 70,808 |  |  | — |  |  | (2,812) |  |  | 67,996 |  |  | — |  |  | 8,488 |  |  | 59,508 |
U.S. government treasury bonds |  | 18,609 |  |  | — |  |  | (495) |  |  | 18,114 |  |  | — |  |  | 6,490 |  |  | 11,624 |
Asset-backed securities |  | 7,042 |  |  | — |  |  | (59) |  |  | 6,983 |  |  | — |  |  | 3,113 |  |  | 3,870 |
Municipal bonds |  | 5,541 |  |  | — |  |  | (100) |  |  | 5,441 |  |  | — |  |  | 4,047 |  |  | 1,394 |
U.S. government agency bonds |  | 1,201 |  |  | — |  |  | (46) |  |  | 1,155 |  |  | — |  |  | — |  |  | 1,155 |
Total |  | $ | 980,714 |  |  | $ | — |  |  | $ | (3,524) |  |  | $ | 977,190 |  |  | $ | 877,501 |  |  | $ | 22,138 |  |  | $ | 77,551 |
|  |  |  |  |  |  |  |  |  | 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 June 30, 2022 and December 31, 2021 (in thousands):
|  |  |  |  |  |  |  |  |  | Reported as:
June 30, 2022 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and Cash Equivalents |  | Marketable securities, short-term |  | Marketable securities, long-term
Cash |  | $ | 758,365 |  |  | $ | — |  |  | $ | — |  |  | $ | 758,365 |  |  | $ | 758,365 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 119,148 |  |  | — |  |  | (12) |  |  | 119,136 |  |  | 119,136 |  |  | — |  |  | — |
Corporate bonds |  | 70,808 |  |  | — |  |  | (2,812) |  |  | 67,996 |  |  | — |  |  | 8,488 |  |  | 59,508 |
U.S. government treasury bonds |  | 18,609 |  |  | — |  |  | (495) |  |  | 18,114 |  |  | — |  |  | 6,490 |  |  | 11,624 |
Asset-backed securities |  | 7,042 |  |  | — |  |  | (59) |  |  | 6,983 |  |  | — |  |  | 3,113 |  |  | 3,870 |
Municipal bonds |  | 5,541 |  |  | — |  |  | (100) |  |  | 5,441 |  |  | — |  |  | 4,047 |  |  | 1,394 |
U.S. government agency bonds |  | 1,201 |  |  | — |  |  | (46) |  |  | 1,155 |  |  | — |  |  | — |  |  | 1,155 |
Total |  | $ | 980,714 |  |  | $ | — |  |  | $ | (3,524) |  |  | $ | 977,190 |  |  | $ | 877,501 |  |  | $ | 22,138 |  |  | $ | 77,551 |
|  |  |  |  |  |  |  |  |  | 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 June 30, 2022 and December 31, 2021 (in thousands):
|  | June 30, 2022 |  | December 31, 2021
Due in 1 year or less |  | $ | 17,185 |  |  | $ | 59,737 |
Due in 1 year through 5 years |  | 82,504 |  |  | 139,113 |
Total |  | $ | 99,689 |  |  | $ | 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 June 30, 2022 and December 31, 2021 (in thousands):
Description |  | Balance as of June 30, 2022 |  | Level 1 |  | Level 2 |  | Level 3 |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 119,136 |  |  | $ | 119,136 |  |  | $ | — |  |  | $ | — |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government treasury bonds |  | 6,490 |  |  | 6,490 |  |  | — |  |  | — |  |  |  |  |
Corporate bonds |  | 8,488 |  |  | — |  |  | 8,488 |  |  | — |  |  |  |  |
Municipal bonds |  | 4,047 |  |  | — |  |  | 4,047 |  |  | — |  |  |  |  |
Asset-backed securities |  | 3,113 |  |  | — |  |  | 3,113 |  |  | — |  |  |  |  |
Long-term investments: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government treasury bonds |  | 11,624 |  |  | 11,624 |  |  | — |  |  | — |  |  |  |  |
Corporate bonds |  | 59,508 |  |  | — |  |  | 59,508 |  |  | — |  |  |  |  |
Municipal bonds |  | 1,394 |  |  | — |  |  | 1,394 |  |  | — |  |  |  |  |
U.S. government agency bonds |  | 1,155 |  |  | — |  |  | 1,155 |  |  | — |  |  |  |  |
Asset-backed securities |  | 3,870 |  |  | — |  |  | 3,870 |  |  | — |  |  |  |  |
Other assets: |  |  |  |  |  |  |  |  |  |  |  |
Investments in privately held companies |  | 11,793 |  |  | — |  |  | — |  |  | 11,793 |  |  |  |  |
|  | $ | 230,618 |  |  | $ | 137,250 |  |  | $ | 81,575 |  |  | $ | 11,793 |  |  |  |  |
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 June 30, 2022 and December 31, 2021 (in thousands):
| June 30, 2022
| Local Currency Amount |  | Notional Contract Amount (USD)
Euro | €147,830 |  | $ | 154,164 |
Chinese Yuan | ¥719,300 |  | 107,297 |
Polish Zloty | PLN351,500 |  | 77,556 |
Canadian Dollar | C$95,200 |  | 73,748 |
Brazilian Real | R$317,000 |  | 59,913 |
Japanese Yen | ¥6,081,000 |  | 44,744 |
British Pound | £34,097 |  | 41,333 |
Swiss Franc | CHF22,500 |  | 23,536 |
Mexican Peso | M$282,700 |  | 13,988 |
Israeli Shekel | ILS43,160 |  | 12,380 |
Australian Dollar | A$4,600 |  | 3,170 |
|  |  | $ | 611,829 |
| 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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