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Financial Instruments (Tables)

6 Months Ended

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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Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
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