Investments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2020

Notes To Financial Statements [Abstract]

Short-Term And Long-Term Marketable Securities

As of December 31, 2019, the estimated fair value of our short-term marketable securities, classified as available for sale, are as follows (in thousands):

December 31, 2019	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Corporate bonds	210,891		142		(27)		211,006
U.S. government treasury bonds	70,587		65		(2)		70,650
U.S. government agency bonds	22,085		17		(1)		22,101
Commercial paper	14,426		—		—		14,426
Certificates of deposit	19		—		—		19
Total marketable securities, short-term	$	318,008	$	224	$	(30)	$	318,202

Investments Classified by Contractual Maturity Date

As the carrying value approximates the fair value for our short-term marketable securities shown in the table above, the fair value of our short-term marketable securities as of December 31, 2019 had a contractual maturity one year or less.

Financial Assets Measured At Fair Value On Recurring Basis

The following tables summarize our financial assets measured at fair value on a recurring basis as of March 31, 2020 and December 31, 2019 (in thousands):

Description	Balance as of March 31, 2020		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	36,683	$	36,683	$	—	$	—
Prepaid expenses and other current assets:
Israeli funds	3,293		—		3,293		—
Current unsecured promissory note	27,914		—		—		27,914
	$	67,890	$	36,683	$	3,293	$	27,914

Description	Balance as of December 31, 2019		Level 1		Level 2		Level 3
Cash equivalents:
Money market funds	$	236,923	$	236,923	$	—	$	—
Short-term investments:
Corporate bonds	211,006		—		211,006		—
Commercial paper	14,426		—		14,426		—
U.S. government treasury bonds	70,650		70,650		—		—
U.S. government agency bonds	22,101		—		22,101		—
Certificates of deposit	19		—		19		—
Prepaid expenses and other current assets:
Israeli funds	3,226		—		3,226		—
Current unsecured promissory note	25,005		—		—		25,005
Other assets:
Long-term unsecured promissory note	7,328		—		—		7,328
	$	590,684	$	307,573	$	250,778	$	32,333

Notional value of derivative instruments

The following table presents the gross notional value of all our foreign exchange forward contracts outstanding as of March 31, 2020 and December 31, 2019 (in thousands):

	March 31, 2020
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€67,500	$	74,274
Chinese Yuan	¥517,000	72,825
Canadian Dollar	C$47,000	33,103
British Pound	£23,200	28,894
Brazilian Real	R$150,000	28,765
Japanese Yen	¥2,685,000	24,916
Israeli Shekel	ILS26,000	7,349
Mexican Peso	M$160,000	6,840
Australian Dollar	A$5,500	3,375
		$	280,341

	December 31, 2019
	Local Currency Amount	Notional Contract Amount (USD)
Euro	€97,000	$	108,870
Chinese Yuan	¥431,000	60,702
Canadian Dollar	C$52,000	39,802
British Pound	£28,000	36,770
Brazilian Real	R$130,000	32,185
Japanese Yen	¥3,000,000	27,604
Israeli Shekel	ILS63,700	18,439
Mexican Peso	M$140,000	7,398
Australian Dollar	A$3,000	2,101
		$	333,871