Fair Value Measures (Tables)

3 Months Ended

Mar. 31, 2022

Mar. 31, 2021

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 are as follows:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	142	$	—	$	—	$	142


Available-for-sale short-term investments:(1)
U.S. Government treasury bills	—		174,435		—		174,435
Other short-term investments:
Money market funds	145		—		—		145
Mutual fund shares	444		—		—		444
Other current assets:
Derivative financial instruments	—		11,072		—		11,072
Non-current assets:
Money market funds	1,383		—		—		1,383
Mutual fund shares	20,730		—		—		20,730
Derivative financial instruments	—		7,351		—		7,351
Total assets measured at fair value	$	22,844	$	192,858	$	—	$	215,702
Liabilities:
Accrued liabilities:
Derivative financial instruments	$	—	$	4,313	$	—	$	4,313
Other long-term liabilities:
Derivative financial instruments	—		1,383		—		1,383
Total liabilities measured at fair value	$	—	$	5,696	$	—	$	5,696

(1) Available-for-sale short-term investments have remaining maturities of less than one year.

Assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 are as follows:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	2,677	$	—	$	—	$	2,677




Available-for-sale short-term investments:(1)



U.S. Government treasury bills	—		130,168		—		130,168

Short-term investments:
Money market funds	73		—		—		73
Mutual fund shares	904		—		—		904
Other current assets:
Derivative financial instruments	—		9,397		—		9,397
Non-current assets:
Money market funds	2,219		—		—		2,219
Mutual fund shares	19,606		—		—		19,606
Derivative financial instruments	—		10,142		—		10,142
Total assets measured at fair value	$	25,479	$	149,707	$	—	$	175,186
Liabilities:
Accrued liabilities:
Derivative financial instruments	$	—	$	3,572	$	—	$	3,572
Other long-term liabilities:
Derivative financial instruments	—		318		—		318
Total liabilities measured at fair value	$	—	$	3,890	$	—	$	3,890

(1) Available-for-sale short-term investments have remaining maturities of less than one year.

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2021 are as follows:


(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	344,886	$	—	$	—	$	344,886
United States government treasury bills	—		45,000		—		45,000






Short-term investments:
Money market funds	99		—		—		99
Mutual fund shares	821		—		—		821
Other current assets:
Derivative financial instruments	—		4,197		—		4,197
Non-current assets:
Money market funds	3,667		—		—		3,667
Mutual fund shares	15,376		—		—		15,376
Derivative financial instruments	—		6,159		—		6,159
Total assets measured at fair value	$	364,849	$	55,356	$	—	$	420,205
Liabilities:
Accrued liabilities:
Derivative financial instruments	$	—	$	6,701	$	—	$	6,701
Other long-term liabilities:
Derivative financial instruments	—		2,337		—		2,337
Total liabilities measured at fair value	$	—	$	9,038	$	—	$	9,038