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Financial Instruments (Tables)
9 Months Ended
Sep. 30, 2022
Investments, All Other Investments [Abstract]  
Cash and Cash Equivalents
The following tables summarize our cash and cash equivalents, and marketable securities on our Consolidated Balance Sheets as of September 30, 2022 and December 31, 2021 (in thousands):
Reported as:
September 30, 2022Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair ValueCash and Cash EquivalentsMarketable securities, short-termMarketable securities, long-term
Cash$709,497 $— $— $709,497 $709,497 $— $— 
Money market funds335,026 — — 335,026 335,026 — — 
Corporate bonds70,560 — (3,405)67,155 — 29,454 37,701 
U.S. government treasury bonds
18,587 — (641)17,946 — 9,078 8,868 
Asset-backed securities5,624 — (53)5,571 — 3,695 1,876 
Municipal bonds4,780 — (93)4,687 — 4,015 672 
U.S. government agency bonds1,204 — (65)1,139 — — 1,139 
Total$1,145,278 $— $(4,257)$1,141,021 $1,044,523 $46,242 $50,256 

Reported as:
December 31, 2021Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair ValueCash and Cash EquivalentsMarketable securities, short-termMarketable securities, long-term
Cash$754,802 $— $— $754,802 $754,802 $— $— 
Money market funds343,012 — (2)343,010 343,010 — — 
Corporate bonds115,507 (398)115,118 1,042 35,065 79,011 
U.S. government treasury bonds
42,976 — (48)42,928 — 22,251 20,677 
Asset-backed securities32,031 — (40)31,991 — 10,999 20,992 
Municipal bonds7,628 — (15)7,613 516 3,657 3,440 
U.S. government agency bonds1,201 — (1)1,200 — — 1,200 
Total$1,297,157 $$(504)$1,296,662 $1,099,370 $71,972 $125,320 
Marketable Securities
The following tables summarize our cash and cash equivalents, and marketable securities on our Consolidated Balance Sheets as of September 30, 2022 and December 31, 2021 (in thousands):
Reported as:
September 30, 2022Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair ValueCash and Cash EquivalentsMarketable securities, short-termMarketable securities, long-term
Cash$709,497 $— $— $709,497 $709,497 $— $— 
Money market funds335,026 — — 335,026 335,026 — — 
Corporate bonds70,560 — (3,405)67,155 — 29,454 37,701 
U.S. government treasury bonds
18,587 — (641)17,946 — 9,078 8,868 
Asset-backed securities5,624 — (53)5,571 — 3,695 1,876 
Municipal bonds4,780 — (93)4,687 — 4,015 672 
U.S. government agency bonds1,204 — (65)1,139 — — 1,139 
Total$1,145,278 $— $(4,257)$1,141,021 $1,044,523 $46,242 $50,256 

Reported as:
December 31, 2021Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair ValueCash and Cash EquivalentsMarketable securities, short-termMarketable securities, long-term
Cash$754,802 $— $— $754,802 $754,802 $— $— 
Money market funds343,012 — (2)343,010 343,010 — — 
Corporate bonds115,507 (398)115,118 1,042 35,065 79,011 
U.S. government treasury bonds
42,976 — (48)42,928 — 22,251 20,677 
Asset-backed securities32,031 — (40)31,991 — 10,999 20,992 
Municipal bonds7,628 — (15)7,613 516 3,657 3,440 
U.S. government agency bonds1,201 — (1)1,200 — — 1,200 
Total$1,297,157 $$(504)$1,296,662 $1,099,370 $71,972 $125,320 
Contractual Maturity of Marketable Securities
The following table summarizes the fair value of our available-for-sale marketable securities classified by contractual maturity as of September 30, 2022 and December 31, 2021 (in thousands):

September 30, 2022December 31, 2021
Due in 1 year or less $35,157 $59,737 
Due in 1 year through 5 years61,341 139,113 
Total$96,498 $198,850 
Financial Assets Measured At Fair Value On A Recurring Basis
The following tables summarize our financial assets measured at fair value as of September 30, 2022 and December 31, 2021 (in thousands):
DescriptionBalance as of
September 30, 2022
Level 1

Level 2
Level 3
Cash equivalents:
Money market funds$335,026 $335,026 $— $— 
Short-term investments:
U.S. government treasury bonds9,078 9,078 — — 
Corporate bonds29,454 — 29,454 — 
Municipal bonds4,015 — 4,015 — 
Asset-backed securities3,695 — 3,695 — 
Long-term investments:
U.S. government treasury bonds8,868 8,868 — — 
Corporate bonds37,701 — 37,701 — 
Municipal bonds672 — 672 — 
U.S. government agency bonds1,139 — 1,139 — 
Asset-backed securities1,876 — 1,876 — 
Other assets:
Investments in privately held companies12,180 — — 12,180 
$443,704 $352,972 $78,552 $12,180 
DescriptionBalance as of December 31, 2021Level 1Level 2Level 3
Cash equivalents:
Money market funds$343,010 $343,010 $— $— 
Corporate bonds1,042 — 1,042 — 
Municipal bonds516 — 516 — 
Short-term investments:
U.S. government treasury bonds22,251 22,251 — — 
Corporate bonds35,065 — 35,065 — 
Municipal bonds3,657 — 3,657 — 
Asset-backed securities10,999 — 10,999 — 
Long-term investments:
U.S. government treasury bonds
20,677 20,677 — — 
Corporate bonds79,011 — 79,011 — 
Municipal bonds
3,440 — 3,440 — 
U.S. government agency bonds
1,200 — 1,200 — 
Asset-backed securities
20,992 — 20,992 — 
Prepaid expenses and other current assets:
Israeli funds3,841 — 3,841 — 
Other assets:
Investments in privately held companies8,621 — — 8,621 
$554,322 $385,938 $159,763 $8,621 
Schedule of Notional Amounts of Outstanding Derivative Positions
The following tables present the gross notional value of all our foreign exchange forward contracts outstanding as of September 30, 2022 and December 31, 2021 (in thousands):

September 30, 2022
Local Currency AmountNotional Contract Amount (USD)
Euro€181,300$177,102 
Chinese Yuan¥569,00079,875 
Canadian DollarC$92,80067,607 
Polish ZlotyPLN315,80063,306 
British Pound£44,20048,974 
Japanese Yen¥6,224,00043,194 
Brazilian RealR$200,00036,666 
Swiss FrancCHF24,80025,391 
Israeli ShekelILS78,39022,021 
Mexican PesoM$283,90014,088 
Korean Won₩8,200,0005,710 
Australian Dollar A$4,0902,653 
New Taiwan DollarNT$70,0002,200 
Czech KorunaKč40,0001,585
New Zealand DollarNZ$2,5001,419 
$591,791 

December 31, 2021
Local Currency AmountNotional Contract Amount (USD)
Euro€165,110$186,358 
Canadian DollarC$99,80078,018 
Chinese Yuan¥494,50077,358 
Polish ZlotyPLN219,80054,014 
Brazilian RealR$286,50050,894 
Japanese Yen¥5,548,70048,206 
British Pound£34,74046,881 
Israeli ShekelILS54,11017,416 
Mexican PesoM$311,50015,133 
Swiss FrancCHF9,95010,883 
Australian DollarA$6,9005,009 
$590,170