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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2022

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value

The following table presents fair value information related to the Company's assets and liabilities measured at amortized cost on the condensed consolidated balance sheets with the exception of the interest rate swap and contingent purchase consideration, which are measured at fair value:

			Fair Value Measurements at September 30, 2022
			Total						Level 1						Level 2						Level 3
Assets
Cash equivalents:
Money market fund deposits and term deposits			$	457,754					$	457,754					$	—					$	—
Commercial paper			112,506						—						112,506						—
Certificate of deposit			17						—						17						—
Short-term investments:
Commercial paper			317,457						—						317,457						—
Corporate bonds			20,786						—						20,786						—
U.S. Treasury and agency obligations			14,756						—						14,756						—
Certificates of deposit			11,713						—						11,713						—
Other assets:
Interest rate swap			258						—						258						—
Total			$	935,247					$	457,754					$	477,493					$	—
Liabilities
Term note			$	16,328					$	—					$	16,328					$	—
Total			$	16,328					$	—					$	16,328					$	—

			Fair Value Measurements at December 31, 2021
			Total						Level 1						Level 2						Level 3
Assets
Cash equivalents:
Money market fund deposits and term deposits			$	279,066					$	279,066					$	—					$	—
Commercial paper			117,663						—						117,663						—
Corporate bonds			11,459						—						11,459						—
Municipal bonds			3,220						—						3,220						—
Short-term investments:
Commercial paper			557,955						—						557,955						—
Corporate bonds			215,754						—						215,754						—
U.S. Treasury and agency obligations			21,980						—						21,980						—
Municipal bonds			4,546						—						4,546						—
Certificate of deposit			3,000						—						3,000						—
Foreign government bonds			2,015						—						2,015						—
Total			$	1,216,658					$	279,066					$	937,592					$	—
Liabilities
Term notes			$	34,226					$	—					$	34,226					$	—
Contingent purchase consideration			1,371						—						—						1,371
Interest rate swap			242						—						242						—
Total			$	35,839					$	—					$	34,468					$	1,371

Schedule of Effective Maturity Dates of Held to Maturity Investments

The following table presents the effective maturity dates of debt investments, which are held-to-maturity:

			September 30, 2022												December 31, 2021
			Book Value						Fair Value						Book Value						Fair Value
Investment maturity
Less than 1 year			$	365,409					$	364,712					$	805,400					$	805,250

Fair Value, Assets Measured on Recurring Basis

The following table presents information about the Company's movement in Level 3 assets and liabilities measured at fair value:

									Nine Months Ended September 30,
															2022						2021
Contingent purchase consideration
Balance, beginning of period															$	1,371					$	1,963
Cash payments															—						(466)
Change in fair value															(1,477)						—
Foreign exchange adjustment															106						(91)
Balance, end of period															$	—					$	1,406

Fair Value, Liabilities Measured on Recurring Basis

The following table presents information about the Company's movement in Level 3 assets and liabilities measured at fair value:

									Nine Months Ended September 30,
															2022						2021
Contingent purchase consideration
Balance, beginning of period															$	1,371					$	1,963
Cash payments															—						(466)
Change in fair value															(1,477)						—
Foreign exchange adjustment															106						(91)
Balance, end of period															$	—					$	1,406

X

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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