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Financial Instruments (Tables) | 12 Months Ended
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Dec. 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 Sheet as of December 31, 2022 and 2021 (in thousands):
|  |  |  |  |  |  |  |  |  | Reported as:
December 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 |  | $ | 712,921 |  |  | $ | — |  |  | $ | — |  |  | $ | 712,921 |  |  | $ | 712,921 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 229,129 |  |  | — |  |  | — |  |  | 229,129 |  |  | 229,129 |  |  | — |  |  | — |
Corporate bonds |  | 69,390 |  |  | — |  |  | (2,915) |  |  | 66,475 |  |  | — |  |  | 36,510 |  |  | 29,965 |
U.S. government treasury bonds |  | 20,559 |  |  | — |  |  | (549) |  |  | 20,010 |  |  | — |  |  | 15,404 |  |  | 4,606 |
Asset-backed securities |  | 4,514 |  |  | 1 |  |  | (37) |  |  | 4,478 |  |  | — |  |  | 2,909 |  |  | 1,569 |
Municipal bonds |  | 3,447 |  |  | — |  |  | (61) |  |  | 3,386 |  |  | — |  |  | 2,711 |  |  | 675 |
U.S. government agency bonds |  | 5,231 |  |  | 1 |  |  | (69) |  |  | 5,163 |  |  | — |  |  | — |  |  | 5,163 |
Total |  | $ | 1,045,191 |  |  | $ | 2 |  |  | $ | (3,631) |  |  | $ | 1,041,562 |  |  | $ | 942,050 |  |  | $ | 57,534 |  |  | $ | 41,978 |
|  |  |  |  |  |  |  |  |  | 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 Sheet as of December 31, 2022 and 2021 (in thousands):
|  |  |  |  |  |  |  |  |  | Reported as:
December 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 |  | $ | 712,921 |  |  | $ | — |  |  | $ | — |  |  | $ | 712,921 |  |  | $ | 712,921 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 229,129 |  |  | — |  |  | — |  |  | 229,129 |  |  | 229,129 |  |  | — |  |  | — |
Corporate bonds |  | 69,390 |  |  | — |  |  | (2,915) |  |  | 66,475 |  |  | — |  |  | 36,510 |  |  | 29,965 |
U.S. government treasury bonds |  | 20,559 |  |  | — |  |  | (549) |  |  | 20,010 |  |  | — |  |  | 15,404 |  |  | 4,606 |
Asset-backed securities |  | 4,514 |  |  | 1 |  |  | (37) |  |  | 4,478 |  |  | — |  |  | 2,909 |  |  | 1,569 |
Municipal bonds |  | 3,447 |  |  | — |  |  | (61) |  |  | 3,386 |  |  | — |  |  | 2,711 |  |  | 675 |
U.S. government agency bonds |  | 5,231 |  |  | 1 |  |  | (69) |  |  | 5,163 |  |  | — |  |  | — |  |  | 5,163 |
Total |  | $ | 1,045,191 |  |  | $ | 2 |  |  | $ | (3,631) |  |  | $ | 1,041,562 |  |  | $ | 942,050 |  |  | $ | 57,534 |  |  | $ | 41,978 |
|  |  |  |  |  |  |  |  |  | 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 December 31, 2022 and 2021 (in thousands):
|  | December 31,
|  | 2022 |  | 2021
Due in 1 year or less |  | $ | 51,037 |  |  | $ | 59,737 |
Due in 1 year through 5 years |  | 48,475 |  |  | 139,113 |
Total |  | $ | 99,512 |  |  | $ | 198,850 |
Unrealized Losses for Investments in a Continuous Unrealized Loss Position | The following table summarizes the gross unrealized losses as of December 31, 2022, aggregated by investment category and length of time that individual securities have been in a continuous loss position (in thousands):
|  | As of December 31, 2022
|  | Less than 12 months |  | 12 Months of Greater |  | Total
December 31, 2022 |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  |  | Fair Value |  | Unrealized Loss
Corporate bonds |  | $ | 10,639 |  |  | $ | (440) |  |  | $ | 54,634 |  |  | $ | (2,475) |  |  |  | $ | 65,273 |  |  | $ | (2,915) |
U.S. government treasury bonds |  | 5,262 |  |  | (177) |  |  | 14,748 |  |  | (372) |  |  |  | 20,010 |  |  | (549) |
Asset-backed securities |  | 2,636 |  |  | (17) |  |  | 1,275 |  |  | (20) |  |  |  | 3,911 |  |  | (37) |
Municipal bonds |  | — |  |  | — |  |  | 2,412 |  |  | (61) |  |  |  | 2,412 |  |  | (61) |
U.S. government agency bonds |  | 3,017 |  |  | (5) |  |  | 1,136 |  |  | (64) |  |  |  | 4,153 |  |  | (69) |
Total |  | $ | 21,554 |  |  | $ | (639) |  |  | $ | 74,205 |  |  | $ | (2,992) |  |  |  | $ | 95,759 |  |  | $ | (3,631) |
Financial Assets Measured At Fair Value On A Recurring Basis | The following tables summarize our financial assets measured at fair value as of December 31, 2022 and 2021 (in thousands):
Description |  | Balance as of December 31, 2022 |  | Level 1 |  | Level 2 |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 229,129 |  |  | $ | 229,129 |  |  | $ | — |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |  |  |  |
U.S. government treasury bonds |  | 15,404 |  |  | 15,404 |  |  | — |  |  |  |  |
Corporate bonds |  | 36,510 |  |  | — |  |  | 36,510 |  |  |  |  |
Municipal bonds |  | 2,711 |  |  | — |  |  | 2,711 |  |  |  |  |
Asset-backed securities |  | 2,909 |  |  | — |  |  | 2,909 |  |  |  |  |
Long-term investments: |  |  |  |  |  |  |  |  |  |
U.S. government treasury bonds |  | 4,606 |  |  | 4,606 |  |  | — |  |  |  |  |
Corporate bonds |  | 29,965 |  |  | — |  |  | 29,965 |  |  |  |  |
Municipal bonds |  | 675 |  |  | — |  |  | 675 |  |  |  |  |
U.S. government agency bonds |  | 5,163 |  |  | — |  |  | 5,163 |  |  |  |  |
Asset-backed securities |  | 1,569 |  |  | — |  |  | 1,569 |  |  |  |  |
|  | $ | 328,641 |  |  | $ | 249,139 |  |  | $ | 79,502 |  |  |  |  |
Description |  | Balance as of December 31, 2021 |  | Level 1 |  | Level 2 |  |
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 |  |  |
|  | $ | 545,701 |  |  | $ | 385,938 |  |  | $ | 159,763 |  |  |
Schedule of Notional Amounts of Outstanding Derivative Positions | The following tables presents the gross notional value of all our foreign exchange forward contracts outstanding as of December 31, 2022 and 2021 (in thousands):
|  | December 31, 2022
|  | Local Currency Amount |  | Notional Contract Amount (USD)
Euro |  | €186,900 |  | $ | 200,010 |
Polish Zloty |  | PLN365,988 |  | 83,307 |
Canadian Dollar |  | C$109,000 |  | 80,514 |
Chinese Yuan |  | ¥471,000 |  | 68,223 |
British Pound |  | £41,200 |  | 49,677 |
Japanese Yen |  | ¥6,200,000 |  | 47,196 |
Israeli Shekel |  | ILS110,030 |  | 31,383 |
Swiss Franc |  | CHF25,000 |  | 27,165 |
Brazilian Real |  | R$141,200 |  | 26,839 |
Mexican Peso |  | M$230,000 |  | 11,746 |
New Zealand Dollar |  | NZ$6,000 |  | 3,806 |
Australian Dollar |  | A$4,000 |  | 2,721 |
Czech Koruna |  | Kč56,000 |  | 2,469 |
New Taiwan Dollar |  | NT$60,000 |  | 1,959 |
|  |  |  | $ | 637,015 |
|  | 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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- Definition 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 Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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