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Financial Instruments (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2024 and December 31, 2023 (in thousands):

																														Reported as:
September 30, 2024						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						Cash and Cash Equivalents						Marketable securities, short-term						Marketable securities, long-term
Cash						$	860,461					$	—					$	—					$	860,461					$	860,461					$	—					$	—
Money market funds						181,474						—						—						181,474						181,474						—						—
Total						$	1,041,935					$	—					$	—					$	1,041,935					$	1,041,935					$	—					$	—

We have no short-term or long-term marketable securities as of September 30, 2024.

																														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 September 30, 2024 and December 31, 2023 (in thousands):

																														Reported as:
September 30, 2024						Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value						Cash and Cash Equivalents						Marketable securities, short-term						Marketable securities, long-term
Cash						$	860,461					$	—					$	—					$	860,461					$	860,461					$	—					$	—
Money market funds						181,474						—						—						181,474						181,474						—						—
Total						$	1,041,935					$	—					$	—					$	1,041,935					$	1,041,935					$	—					$	—

We have no short-term or long-term marketable securities as of September 30, 2024.

																														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 December 31, 2023 (in thousands):

												December 31, 2023
Due in 1 year or less												$	34,617
Due in 1 year through 5 years												8,709
Total												$	43,326

Unrealized Losses for Investments in a Continuous Unrealized Loss Position

The following table summarizes the fair value and gross unrealized losses as of 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 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 September 30, 2024 and December 31, 2023 (in thousands):

Description						Balance as of September 30, 2024						Level 1						Level 2
Cash equivalents:
Money market funds						$	181,474					$	181,474					$	—
						$	181,474					$	181,474					$	—

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 September 30, 2024 and December 31, 2023 (in thousands):

			September 30, 2024
			Local Currency Amount						Notional Contract Amount (USD)
Euro			€176,900						$	197,946
British Pound			£105,720						141,511
Canadian Dollar			$96,300						71,439
Polish Zloty			PLN272,000						71,001
Chinese Yuan			¥473,500						67,816
Japanese Yen			¥5,000,000						35,176
Israeli Shekel			ILS79,600						21,458
Brazilian Real			R$109,800						20,044
Swiss Franc			CHF5,700						6,783
New Zealand Dollar			NZ$7,700						4,898
Australian Dollar			A$4,800						3,330
New Taiwan Dollar			NT$98,000						3,110
Czech Koruna			Kč64,400						2,860
Korean Won			₩2,500,000						1,914
									$	649,286

			December 31, 2023
			Local Currency Amount						Notional Contract Amount (USD)
Euro			€337,780						$	373,705
Canadian Dollar			$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

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