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Financial Instruments (Tables)

12 Months Ended

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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