XML 38 R27.htm IDEA: XBRL DOCUMENT v3.24.1.u1

Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Investments, All Other Investments [Abstract]

Cash and Cash Equivalents

The following tables summarize our cash and cash equivalents, and marketable securities on our Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 (in thousands):

																														Reported as:
March 31, 2024						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						Cash and Cash Equivalents						Marketable securities, short-term						Marketable securities, long-term
Cash						$	816,224					$	—					$	—					$	816,224					$	816,224					$	—					$	—
Money market funds						49,581						—						—						49,581						49,581						—						—
Corporate bonds						26,535						3						(417)						26,121						—						24,551						1,570
U.S. government treasury bonds						4,871						—						(101)						4,770						—						2,721						2,049
Asset-backed securities						586						—						(1)						585						—						585						—
U.S. government agency bonds						5,264						—						(20)						5,244						—						5,244						—
Total						$	903,061					$	3					$	(539)					$	902,525					$	865,805					$	33,101					$	3,619

																														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

Marketable Securities

The following tables summarize our cash and cash equivalents, and marketable securities on our Condensed Consolidated Balance Sheets as of March 31, 2024 and December 31, 2023 (in thousands):

																														Reported as:
March 31, 2024						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						Cash and Cash Equivalents						Marketable securities, short-term						Marketable securities, long-term
Cash						$	816,224					$	—					$	—					$	816,224					$	816,224					$	—					$	—
Money market funds						49,581						—						—						49,581						49,581						—						—
Corporate bonds						26,535						3						(417)						26,121						—						24,551						1,570
U.S. government treasury bonds						4,871						—						(101)						4,770						—						2,721						2,049
Asset-backed securities						586						—						(1)						585						—						585						—
U.S. government agency bonds						5,264						—						(20)						5,244						—						5,244						—
Total						$	903,061					$	3					$	(539)					$	902,525					$	865,805					$	33,101					$	3,619

																														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

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 March 31, 2024 and December 31, 2023 (in thousands):

						March 31, 2024						December 31, 2023
Due in 1 year or less						$	32,515					$	34,617
Due in 1 year through 5 years						4,205						8,709
Total						$	36,720					$	43,326

Unrealized Losses for Investments in a Continuous Unrealized Loss Position

The following tables summarize the fair value and gross unrealized losses as of March 31, 2024 and December 31, 2023, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position (in thousands):

						As of March 31, 2024
						Less than 12 months												12 Months of Greater												Total
March 31, 2024						Fair Value						Unrealized Loss						Fair Value						Unrealized Loss									Fair Value						Unrealized Loss
Corporate bonds						$	1,006					$	(3)					$	22,805					$	(414)								$	23,811					$	(417)
U.S. government treasury bonds						2,049						(26)						2,721						(75)									4,770						(101)
Asset-backed securities						535						(1)						—						—									535						(1)
Municipal bonds						—						—						—						—									—						—
U.S. government agency bonds						4,051						(9)						1,193						(11)									5,244						(20)
Total						$	7,641					$	(39)					$	26,719					$	(500)								$	34,360					$	(539)

						As of December 31, 2023
						Less than 12 months												12 Months of 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 as of March 31, 2024 and December 31, 2023 (in thousands):

Description						Balance as of March 31, 2024						Level 1						Level 2
Cash equivalents:
Money market funds						$	49,581					$	49,581					$	—
Short-term investments:
U.S. government agency bonds						5,244						—						5,244
U.S. government treasury bonds						2,721						—						2,721
Corporate bonds						24,551						—						24,551
Asset-backed securities						585						—						585
Long-term investments:
U.S. government treasury bonds						2,049						—						2,049
Corporate bonds						1,570						—						1,570
						$	86,301					$	49,581					$	36,720

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

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 March 31, 2024 and December 31, 2023 (in thousands):

			March 31, 2024
			Local Currency Amount						Notional Contract Amount (USD)
Euro			€262,300						$	283,818
British Pound			£121,800						153,937
Canadian Dollar			C$96,500						71,174
Polish Zloty			PLN276,400						$	69,117
Chinese Yuan			¥322,800						44,536
Japanese Yen			¥4,300,000						28,547
Brazilian Real			R$88,600						17,650
Mexican Peso			M$270,000						16,265
Israeli Shekel			ILS48,200						13,137
Swiss Franc			CHF7,000						7,776
New Zealand Dollar			NZ$9,900						5,912
New Taiwan Dollar			NT$98,000						3,064
Australian Dollar			A$4,700						3,061
Czech Koruna			Kč44,600						1,905
Korean Won			₩2,300,000						1,708
									$	721,607

			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			¥244,500.00						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

X

- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

+ References

Reference 1: http://www.xbrl.org/2003/role/exampleRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 55
-Paragraph 8
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479081/326-30-55-8

Reference 2: http://fasb.org/us-gaap/role/ref/otherTransitionRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147481800/320-10-50-6

Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 326
-SubTopic 30
-Name Accounting Standards Codification
-Section 50
-Paragraph 4
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479106/326-30-50-4

+ Details

Name:	us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsAllOtherInvestmentsAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of marketable securities. This may consist of investments in certain debt and equity securities, short-term investments and other assets.

+ References

No definition available.

+ Details

Name:	us-gaap_MarketableSecuritiesTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the components of cash and cash equivalents.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCashAndCashEquivalentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of the notional amounts of outstanding derivative positions.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 815
-SubTopic 10
-Section 50
-Paragraph 1A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147480434/815-10-50-1A

+ Details

Name:	us-gaap_ScheduleOfNotionalAmountsOfOutstandingDerivativePositionsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration