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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2021
Fair Value Disclosures [Abstract] |
Summary of Financial Assets Measured and Recorded at Fair Value on Recurring Basis | The following table presents our financial assets and liabilities measured and recorded at fair value on a recurring basis using the above input categories:
|  | As of March 31, 2021
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in thousands)
Description: |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Money market funds |  | 464,176 |  |  | $ | — |  |  | $ | — |  |  | $ | 464,176 |
U.S. government agencies |  | 55,393 |  |  | — |  |  | — |  |  | 55,393 |
Commercial paper |  | — |  |  | 27,676 |  |  | — |  |  | 27,676 |
Corporate bonds |  | — |  |  | 27,657 |  |  | — |  |  | 27,657 |
Asset-backed securities |  | — |  |  | 2,403 |  |  | — |  |  | 2,403 |
Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets) |  | — |  |  | 226 |  |  | — |  |  | 226 |
Total |  | $ | 519,569 |  |  | $ | 57,962 |  |  | $ | — |  |  | $ | 577,531 |
Liabilities: |  |  |  |  |  |  |  |
Foreign currency forward contracts designated as cash flow hedges (other current liabilities) |  | $ | — |  |  | $ | 128 |  |  | $ | — |  |  | $ | 128 |
Total |  | $ | — |  |  | $ | 128 |  |  | $ | — |  |  | $ | 128 |
|  | As of December 31, 2020
|  | Level 1 |  | Level 2 |  | Level 3 |  | Total
|  | (in thousands)
Description: |  |  |  |  |  |  |  |
Assets: |  |  |  |  |  |  |  |
Money market funds |  | $ | 152,570 |  |  | $ | — |  |  | $ | — |  |  | $ | 152,570 |
U.S. government agencies |  | 83,587 |  |  | — |  |  | — |  |  | 83,587 |
Commercial paper |  | — |  |  | 34,766 |  |  | — |  |  | 34,766 |
Corporate bonds |  | — |  |  | 24,192 |  |  | — |  |  | 24,192 |
Agency bonds |  | — |  |  | 3,999 |  |  | — |  |  | 3,999 |
Asset-backed securities |  | — |  |  | 2,419 |  |  | — |  |  | 2,419 |
Foreign currency forward contracts designated as cash flow hedges (prepaid expenses and other current assets) |  | — |  |  | 432 |  |  | — |  |  | 432 |
Total |  | $ | 236,157 |  |  | $ | 65,808 |  |  | $ | — |  |  | $ | 301,965 |

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- 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 -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&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 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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