Fair Value Measures (Tables)

3 Months Ended

Mar. 31, 2023

Mar. 31, 2022

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured at Fair Value on a Recurring Basis

Assets and liabilities measured at fair value on a recurring basis as of March 31, 2023 are as follows:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	106,092	$	—	$	—	$	106,092
U.S. Government treasury bills	—		49,695		—		49,695
Short-term investments:
Available-for-sale short-term investments: (1)
U.S. Government treasury bills	—		98,746		—		98,746
Other short-term investments:
Money market funds	284		—		—		284
Mutual fund shares	482		—		—		482
Prepaid expenses and other current assets:
Derivative financial instruments	—		17,716		—		17,716
Other non-current assets:
Money market funds	1,712		—		—		1,712
Mutual fund shares	20,762		—		—		20,762
Derivative financial instruments	—		5,935		—		5,935
Total assets measured at fair value	$	129,332	$	172,092	$	—	$	301,424
Liabilities:
Accrued liabilities:
Derivative financial instruments	$	—	$	4,887	$	—	$	4,887
Other long-term liabilities:
Derivative financial instruments	—		1,788		—		1,788
Total liabilities measured at fair value	$	—	$	6,675	$	—	$	6,675

(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, 2022 are as follows:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	142	$	—	$	—	$	142
Short-term investments:
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, 2022 are as follows:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	120,481	$	—	$	—	$	120,481
Short-term investments:
Other short-term investments:
Money market funds	80		—		—		80
Mutual fund shares	642		—		—		642
Prepaid and other current assets:
Derivative financial instruments	—		23,333		—		23,333
Other non-current assets:
Money market funds	1,456		—		—		1,456
Mutual fund shares	19,026		—		—		19,026
Derivative financial instruments	—		7,153		—		7,153
Total assets measured at fair value	$	141,685	$	30,486	$	—	$	172,171
Liabilities:
Accrued liabilities:
Derivative financial instruments	$	—	$	3,782	$	—	$	3,782
Other long-term liabilities:
Derivative financial instruments	—		1,770		—		1,770
Total liabilities measured at fair value	$	—	$	5,552	$	—	$	5,552