Fair Value Measures (Tables)

6 Months Ended

Jun. 30, 2023

Jun. 30, 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 June 30, 2023 are as follows:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	60,565	$	—	$	—	$	60,565
Short-term investments:
Available-for-sale short-term investments: (1)
U.S. Government treasury bills	—		69,751		—		69,751
Other short-term investments:
Money market funds	287		—		—		287
Mutual fund shares	1,187		—		—		1,187
Prepaid expenses and other current assets:
Derivative financial instruments	—		19,308		—		19,308
Other non-current assets:
Money market funds	1,688		—		—		1,688
Mutual fund shares	22,137		—		—		22,137
Derivative financial instruments	—		3,535		—		3,535
Total assets measured at fair value	$	85,864	$	92,594	$	—	$	178,458
Liabilities:
Accrued liabilities:
Derivative financial instruments	$	—	$	5,165	$	—	$	5,165
Other long-term liabilities:
Derivative financial instruments	—		1,532		—		1,532
Total liabilities measured at fair value	$	—	$	6,697	$	—	$	6,697

(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 June 30, 2022 are as follows:

(in thousands)	Level 1		Level 2		Level 3		Total
Assets:
Cash equivalents:
Money market funds	$	30,141	$	—	$	—	$	30,141
Short-term investments:
Money market funds	81		—		—		81
Mutual fund shares	1,027		—		—		1,027
Prepaid expenses and other current assets:
Derivative financial instruments	—		22,297		—		22,297
Other non-current assets:
Money market funds	1,208		—		—		1,208
Mutual fund shares	17,826		—		—		17,826
Derivative financial instruments	—		13,158		—		13,158
Total assets measured at fair value	$	50,283	$	35,455	$	—	$	85,738
Liabilities:
Accrued liabilities:
Derivative financial instruments	$	—	$	1,854	$	—	$	1,854
Other long-term liabilities:
Derivative financial instruments	—		261		—		261
Total liabilities measured at fair value	$	—	$	2,115	$	—	$	2,115

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:
Money market funds	80		—		—		80
Mutual fund shares	642		—		—		642
Prepaid expenses 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