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Fair Value Measurements (Tables)

3 Months Ended

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

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X

- References

No definition available.

+ Details

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Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
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