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FAIR VALUE MEASUREMENTS (Tables) | 3 Months Ended
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Mar. 31, 2022
Fair Value Disclosures [Abstract] |
Assets and Liabilities Measured and Carried at Fair Value | The tables below present information about the Company’s financial assets and liabilities that are measured and carried at fair value and indicate the level within the fair value hierarchy of valuation techniques it utilizes to determine such fair value:
|  | Fair Value Measurement as of March 31, 2022 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | (in thousands) |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 606,498 |  |  | $ | 606,498 |  |  | $ | — |  |  | $ | — |
Commercial paper |  |  | 145,335 |  |  |  | — |  |  |  | 145,335 |  |  |  | — |
Government and government agency bonds |  |  | 602,288 |  |  |  | 54,856 |  |  |  | 547,432 |  |  |  | — |
Corporate bonds |  |  | 187,232 |  |  |  | — |  |  |  | 187,232 |  |  |  | — |
Strategic equity investments |  |  | 33,394 |  |  |  | 982 |  |  |  | — |  |  |  | 32,412 |
Certificates of deposit |  |  | 24,381 |  |  |  | — |  |  |  | 24,381 |  |  |  | — |
Total assets |  | $ | 1,599,128 |  |  | $ | 662,336 |  |  | $ | 904,380 |  |  | $ | 32,412 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | 43,600 |  |  | $ | — |  |  | $ | — |  |  | $ | 43,600 |
Total liabilities |  | $ | 43,600 |  |  | $ | — |  |  | $ | — |  |  | $ | 43,600 |
|  | Fair Value Measurement as of December 31, 2021 |
|  | Total |  |  | Level 1 |  |  | Level 2 |  |  | Level 3 |
|  | (in thousands) |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 1,562,358 |  |  | $ | 1,562,358 |  |  | $ | — |  |  | $ | — |
Strategic equity investments |  |  | 34,892 |  |  |  | 2,480 |  |  |  | — |  |  |  | 32,412 |
Certificates of deposit |  |  | 250 |  |  |  | 250 |  |  |  | — |  |  |  | — |
Total assets |  | $ | 1,597,500 |  |  | $ | 1,565,088 |  |  | $ | — |  |  | $ | 32,412 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration |  | $ | 43,600 |  |  | $ | — |  |  | $ | — |  |  | $ | 43,600 |
Total liabilities |  | $ | 43,600 |  |  | $ | — |  |  | $ | — |  |  | $ | 43,600 |

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- 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. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19279-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2C -URI http://asc.fasb.org/extlink&oid=123874694&loc=SL7498348-110258 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bb) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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