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Fair Value of Financial Instruments (Tables)

6 Months Ended

Jun. 30, 2024

Fair Value Disclosures [Abstract]

Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize the Company’s financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):

		June 30, 2024
		Level 1				Level 2				Total
Assets:
Cash equivalents:
Money market funds		$	273,038			$	-			$	273,038
Commercial paper			-				8,439				8,439
U.S. treasury securities			-				1,994				1,994
Marketable securities:
U.S. treasury securities			-				741,607				741,607
Corporate notes and bonds			-				450,961				450,961
U.S. agency obligations			-				345,315				345,315
Commercial paper			-				81,970				81,970
Derivative instruments:
Foreign currency forward contracts			-				1,659				1,659
Total assets		$	273,038			$	1,631,945			$	1,904,983
Liabilities:
Derivative instruments:
Foreign currency forward contracts		$	-			$	842			$	842
Total liabilities		$	-			$	842			$	842

		December 31, 2023
		Level 1				Level 2				Total
Assets:
Cash equivalents:
Money market funds		$	264,923			$	-			$	264,923
U.S. treasury securities			-				52,130				52,130
Marketable securities:
U.S. treasury securities			-				833,137				833,137
U.S. agency obligations			-				402,759				402,759
Corporate notes and bonds			-				279,709				279,709
Commercial paper			-				35,404				35,404
Derivative instruments:
Foreign currency forward contracts			-				3,219				3,219
Total assets		$	264,923			$	1,606,358			$	1,871,281
Liabilities:
Derivative instruments:
Foreign currency forward contracts		$	-			$	1,272			$	1,272
Total liabilities		$	-			$	1,272			$	1,272

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- References

No definition available.

+ Details

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- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2009/role/commonPracticeRef
-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

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

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