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Financial Instruments (Tables) | 12 Months Ended
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Dec. 31, 2023
Investments, All Other Investments [Abstract] |
Cash and Cash Equivalents | The following tables summarize our cash and cash equivalents, and marketable securities recorded in our Consolidated Balance Sheets as of December 31, 2023 and 2022 (in thousands):
|  |  |  |  |  |  |  |  |  | Reported as:
December 31, 2023 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and cash equivalents |  | Marketable securities, short-term |  | Marketable securities, long-term
Cash |  | $ | 887,682 |  |  | $ | — |  |  | $ | — |  |  | $ | 887,682 |  |  | $ | 887,682 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 49,756 |  |  | — |  |  | — |  |  | 49,756 |  |  | 49,756 |  |  | — |  |  | — |
Corporate bonds |  | 31,943 |  |  | 5 |  |  | (676) |  |  | 31,272 |  |  | — |  |  | 28,704 |  |  | 2,568 |
U.S. government treasury bonds |  | 4,855 |  |  | — |  |  | (99) |  |  | 4,756 |  |  | — |  |  | — |  |  | 4,756 |
Asset-backed securities |  | 1,416 |  |  | 2 |  |  | (1) |  |  | 1,417 |  |  | — |  |  | 719 |  |  | 698 |
Municipal bonds |  | 702 |  |  | — |  |  | (2) |  |  | 700 |  |  | — |  |  | 700 |  |  | — |
U.S. government agency bonds |  | 5,215 |  |  | — |  |  | (34) |  |  | 5,181 |  |  | — |  |  | 5,181 |  |  | — |
Total |  | $ | 981,569 |  |  | $ | 7 |  |  | $ | (812) |  |  | $ | 980,764 |  |  | $ | 937,438 |  |  | $ | 35,304 |  |  | $ | 8,022 |
|  |  |  |  |  |  |  |  |  | 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 |
Marketable Securities | The following tables summarize our cash and cash equivalents, and marketable securities recorded in our Consolidated Balance Sheets as of December 31, 2023 and 2022 (in thousands):
|  |  |  |  |  |  |  |  |  | Reported as:
December 31, 2023 |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Cash and cash equivalents |  | Marketable securities, short-term |  | Marketable securities, long-term
Cash |  | $ | 887,682 |  |  | $ | — |  |  | $ | — |  |  | $ | 887,682 |  |  | $ | 887,682 |  |  | $ | — |  |  | $ | — |
Money market funds |  | 49,756 |  |  | — |  |  | — |  |  | 49,756 |  |  | 49,756 |  |  | — |  |  | — |
Corporate bonds |  | 31,943 |  |  | 5 |  |  | (676) |  |  | 31,272 |  |  | — |  |  | 28,704 |  |  | 2,568 |
U.S. government treasury bonds |  | 4,855 |  |  | — |  |  | (99) |  |  | 4,756 |  |  | — |  |  | — |  |  | 4,756 |
Asset-backed securities |  | 1,416 |  |  | 2 |  |  | (1) |  |  | 1,417 |  |  | — |  |  | 719 |  |  | 698 |
Municipal bonds |  | 702 |  |  | — |  |  | (2) |  |  | 700 |  |  | — |  |  | 700 |  |  | — |
U.S. government agency bonds |  | 5,215 |  |  | — |  |  | (34) |  |  | 5,181 |  |  | — |  |  | 5,181 |  |  | — |
Total |  | $ | 981,569 |  |  | $ | 7 |  |  | $ | (812) |  |  | $ | 980,764 |  |  | $ | 937,438 |  |  | $ | 35,304 |  |  | $ | 8,022 |
|  |  |  |  |  |  |  |  |  | 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 |
Contractual Maturity of Marketable Securities | The following tables summarizes the fair value of our available-for-sale marketable securities classified by contractual maturity as of December 31, 2023 and 2022 (in thousands):
|  | December 31,
|  | 2023 |  | 2022
Due in 1 year or less |  | $ | 34,617 |  |  | $ | 51,037 |
Due in 1 year through 5 years |  | 8,709 |  |  | 48,475 |
Total |  | $ | 43,326 |  |  | $ | 99,512 |
Unrealized Losses for Investments in a Continuous Unrealized Loss Position | The following tables summarize the gross unrealized losses as of December 31, 2023 and 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, 2023
|  | Less than 12 months |  | 12 Months or Greater |  | Total
December 31, 2023 |  | Fair Value |  | Unrealized Loss |  | Fair Value |  | Unrealized Loss |  |  | Fair Value |  | Unrealized Loss
Corporate bonds |  | $ | — |  |  | $ | — |  |  | $ | 27,939 |  |  | $ | (676) |  |  |  | $ | 27,939 |  |  | $ | (676) |
U.S. government treasury bonds |  | 2,044 |  |  | (11) |  |  | 2,712 |  |  | (88) |  |  |  | 4,756 |  |  | (99) |
Asset-backed securities |  | 1,018 |  |  | (1) |  |  | 83 |  |  | — |  |  |  | 1,101 |  |  | (1) |
Municipal bonds |  | — |  |  | — |  |  | 700 |  |  | (2) |  |  |  | 700 |  |  | (2) |
U.S. government agency bonds |  | 4,003 |  |  | (11) |  |  | 1,178 |  |  | (23) |  |  |  | 5,181 |  |  | (34) |
Total |  | $ | 7,065 |  |  | $ | (23) |  |  | $ | 32,612 |  |  | $ | (789) |  |  |  | $ | 39,677 |  |  | $ | (812) |
Financial Assets Measured At Fair Value On A Recurring Basis | The following tables summarize our financial assets measured at fair value and categorized by fair value hierarchy as of December 31, 2023 and 2022 (in thousands):
Description |  | Balance as of December 31, 2023 |  | Level 1 |  | Level 2 |  |  |  |
Cash equivalents: |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 49,756 |  |  | $ | 49,756 |  |  | $ | — |  |  |  |  |
Short-term investments: |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | 28,704 |  |  | — |  |  | 28,704 |  |  |  |  |
Municipal bonds |  | 700 |  |  | — |  |  | 700 |  |  |  |  |
U.S. government agency bonds |  | 5,181 |  |  | — |  |  | 5,181 |  |  |  |  |
Asset-backed securities |  | 719 |  |  | — |  |  | 719 |  |  |  |  |
Long-term investments: |  |  |  |  |  |  |  |  |  |
U.S. government treasury bonds |  | 4,756 |  |  | — |  |  | 4,756 |  |  |  |  |
Corporate bonds |  | 2,568 |  |  | — |  |  | 2,568 |  |  |  |  |
Asset-backed securities |  | 698 |  |  | — |  |  | 698 |  |  |  |  |
|  | $ | 93,082 |  |  | $ | 49,756 |  |  | $ | 43,326 |  |  |  |  |
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 |  |  |
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 December 31, 2023 and 2022 (in thousands):
|  | December 31, 2023
|  | Local Currency Amount |  | Notional Contract Amount (USD)
Euro |  | €337,780 |  | $ | 373,705 |
Canadian Dollar |  | C$108,900 |  | 82,166 |
Polish Zloty |  | PLN276,900 |  | 70,393 |
British Pound |  | £45,590 |  | 58,005 |
Chinese Yuan |  | ¥244,500 |  | 34,361 |
Swiss Franc |  | CHF28,600 |  | 34,132 |
Japanese Yen |  | ¥3,577,000 |  | 25,347 |
Israeli Shekel |  | ILS78,700 |  | 21,800 |
Brazilian Real |  | R$80,500 |  | 16,563 |
Mexican Peso |  | M$230,000 |  | 13,593 |
New Zealand Dollar |  | NZ$6,600 |  | 4,161 |
Australian Dollar |  | A$4,300 |  | 2,921 |
New Taiwan Dollar |  | NT$89,000 |  | 2,919 |
Czech Koruna |  | Kč60,200 |  | 2,687 |
Korean Won |  | ₩2,200,000 |  | 1,709 |
|  |  |  | $ | 744,462 |
|  | 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 |

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