Stockholders' Equity (Tables)

9 Months Ended

Sep. 30, 2024

Stockholders' Equity Note [Abstract]

Schedule of Activity Related to Stock Option Plans

The following table summarizes the activities related to the Company’s stock options:

	Options Outstanding
	Number of Shares	Weighted- Average Exercise Price (per share)
Balances as of December 31, 2023	19,695,109	$	268.86
Granted	465,641	583.66
Exercised	(3,384,520)	157.18
Expired	(4,324)	56.72
Balances as of September 30, 2024	16,771,906	$	300.20
Vested and expected to vest as of September 30, 2024	16,771,906	$	300.20
Exercisable as of September 30, 2024	16,694,821	$	299.59

Schedule of Unvested Restricted Stock Units

The following table summarizes the activities related to the Company’s unvested RSUs and PSUs:

	Unvested Restricted Stock Units
	Number of Shares	Weighted- Average Grant-Date Fair Value (per share)
Balances as of December 31, 2023	—	$	—
Granted	159,978	686.36
Vested	(19,996)	562.00
Forfeited	—	—
Balances as of September 30, 2024	139,982	$	704.12

Schedule of Changes in Accumulated Other Comprehensive Income (Loss)

The following tables summarize the changes in accumulated balances of other comprehensive income (loss) for the three and nine months ended September 30, 2024:

	Foreign Currency Translation Adjustments		Net Investment Hedge Gains (Losses)		Change in Unrealized Gains (Losses) on Cash Flow Hedges		Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges		Change in Unrealized Gains (Losses) on AFS Securities		Tax (Expense) Benefit		Total
	(in thousands)
Balances as of June 30, 2024	$	(249,600)	$	(3,400)	$	211,631	$	—	$	—	$	(47,745)	$	(89,114)
Other comprehensive income (loss) before reclassifications	95,802		(42,000)		(369,805)		(10,175)		5,566		95,479		(225,133)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		(48,481)		9,069		—		9,037		(30,375)
Net change in accumulated other comprehensive income (loss)	95,802		(42,000)		(418,286)		(1,106)		5,566		104,516		(255,508)
Balances as of September 30, 2024	$	(153,798)	$	(45,400)	$	(206,655)	$	(1,106)	$	5,566	$	56,771	$	(344,622)

	Foreign Currency Translation Adjustments		Net Investment Hedge Gains (Losses)		Change in Unrealized Gains (Losses) on Cash Flow Hedges		Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges		Change in Unrealized Gains (Losses) on AFS Securities		Tax (Expense) Benefit		Total
	(in thousands)
Balances as of December 31, 2023	$	(103,922)	$	—	$	(155,730)	$	—	$	—	$	35,707	$	(223,945)
Other comprehensive income (loss) before reclassifications	(49,876)		(45,400)		19,883		(10,175)		5,566		6,908		(73,094)
Amounts reclassified from accumulated other comprehensive income (loss)	—		—		(70,808)		9,069		—		14,156		(47,583)
Net change in accumulated other comprehensive income (loss)	(49,876)		(45,400)		(50,925)		(1,106)		5,566		21,064		(120,677)
Balances as of September 30, 2024	$	(153,798)	$	(45,400)	$	(206,655)	$	(1,106)	$	5,566	$	56,771	$	(344,622)

The following tables summarize the changes in accumulated balances of other comprehensive income (loss) for the three and nine months ended September 30, 2023:

	Foreign Currency Translation Adjustments		Net Investment Hedge Gains (Losses)		Change in Unrealized Gains (Losses) on Cash Flow Hedges		Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges		Change in Unrealized Gains (Losses) on AFS Securities		Tax (Expense) Benefit		Total
	(in thousands)
Balances as of June 30, 2023	$	(139,266)	$	—	$	—	$	—	$	—	$	—	$	(139,266)
Other comprehensive income (loss) before reclassifications	(94,157)		—		101,169		—		—		(23,317)		(16,305)
Net change in accumulated other comprehensive income (loss)	(94,157)		—		101,169		—		—		(23,317)		(16,305)
Balances as of September 30, 2023	$	(233,423)	$	—	$	101,169	$	—	$	—	$	(23,317)	$	(155,571)

	Foreign Currency Translation Adjustments		Net Investment Hedge Gains (Losses)		Change in Unrealized Gains (Losses) on Cash Flow Hedges		Change in Unrealized Gains (Losses) on Excluded Component of Fair Value Hedges		Change in Unrealized Gains (Losses) on AFS Securities		Tax (Expense) Benefit		Total
	(in thousands)
Balances as of December 31, 2022	$	(217,306)	$	—	$	—	$	—	$	—	$	—	$	(217,306)
Other comprehensive income (loss) before reclassifications	(16,117)		—		101,169		—		—		(23,317)		61,735
Net change in accumulated other comprehensive income (loss)	(16,117)		—		101,169		—		—		(23,317)		61,735
Balances as of September 30, 2023	$	(233,423)	$	—	$	101,169	$	—	$	—	$	(23,317)	$	(155,571)

The following tables summarize the amounts reclassified from AOCI to the Consolidated Statement of Operations:

	Three Months Ended
	September 30, 2024
	Revenues		Cost of Revenues		Interest and other income (expense)		Provision for Income Taxes		Total Reclassifications
	(in thousands)
Gains (losses) on derivatives in cash flow hedging relationship
Foreign exchange contracts
Amount of gains (losses) reclassified from AOCI	$	48,184	$	297	$	—	$	(11,116)	$	37,365
Gains (losses) on derivatives in fair value hedging relationship
Foreign exchange contracts
Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach	—		—		(9,069)		2,079		(6,990)
Total	$	48,184	$	297	$	(9,069)	$	(9,037)	$	30,375

	Nine Months Ended
	September 30, 2024
	Revenues		Cost of Revenues		Interest and other income (expense)		Provision for Income Taxes		Total Reclassifications
	(in thousands)
Gains (losses) on derivatives in cash flow hedging relationship
Foreign exchange contracts
Amount of gains (losses) reclassified from AOCI	$	70,244	$	564	$	—	$	(16,235)	$	54,573
Gains (losses) on derivatives in fair value hedging relationship
Foreign exchange contracts
Amount excluded from assessment of effectiveness and recognized in earnings based on amortization approach	—		—		(9,069)		2,079		(6,990)
Total	$	70,244	$	564	$	(9,069)	$	(14,156)	$	47,583