XML 64 R27.htm IDEA: XBRL DOCUMENT v3.22.4
Financial Instruments (Tables)
 12 Months Ended
Dec. 31, 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 Sheet as of December 31, 2022 and 2021 (in thousands):
Reported as:
December 31, 2022Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueCash and Cash EquivalentsMarketable securities, short-termMarketable securities, long-term
Cash$712,921 $— $— $712,921 $712,921 $— $— 
Money market funds229,129 — — 229,129 229,129 — — 
Corporate bonds69,390 — (2,915)66,475 — 36,510 29,965 
U.S. government treasury bonds
20,559 — (549)20,010 — 15,404 4,606 
Asset-backed securities4,514 1 (37)4,478 — 2,909 1,569 
Municipal bonds3,447 — (61)3,386 — 2,711 675 
U.S. government agency bonds5,231 1 (69)5,163 — — 5,163 
Total$1,045,191 $2 $(3,631)$1,041,562 $942,050 $57,534 $41,978 
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 9 (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 $9 $(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 Sheet as of December 31, 2022 and 2021 (in thousands):
Reported as:
December 31, 2022Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair ValueCash and Cash EquivalentsMarketable securities, short-termMarketable securities, long-term
Cash$712,921 $— $— $712,921 $712,921 $— $— 
Money market funds229,129 — — 229,129 229,129 — — 
Corporate bonds69,390 — (2,915)66,475 — 36,510 29,965 
U.S. government treasury bonds
20,559 — (549)20,010 — 15,404 4,606 
Asset-backed securities4,514 1 (37)4,478 — 2,909 1,569 
Municipal bonds3,447 — (61)3,386 — 2,711 675 
U.S. government agency bonds5,231 1 (69)5,163 — — 5,163 
Total$1,045,191 $2 $(3,631)$1,041,562 $942,050 $57,534 $41,978 
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 9 (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 $9 $(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 December 31, 2022 and 2021 (in thousands):

December 31,
20222021
Due in 1 year or less $51,037 $59,737 
Due in 1 year through 5 years48,475 139,113 
Total$99,512 $198,850 
Unrealized Losses for Investments in a Continuous Unrealized Loss Position
The following table summarizes the gross unrealized losses as of December 31, 2022, aggregated by investment category and length of time that individual securities have been in a continuous loss position (in thousands):

As of December 31, 2022
Less than 12 months12 Months of GreaterTotal
December 31, 2022Fair ValueUnrealized LossFair ValueUnrealized LossFair ValueUnrealized Loss
Corporate bonds$10,639 $(440)$54,634 $(2,475)$65,273 $(2,915)
U.S. government treasury bonds
5,262 (177)14,748 (372)20,010 (549)
Asset-backed securities2,636 (17)1,275 (20)3,911 (37)
Municipal bonds— — 2,412 (61)2,412 (61)
U.S. government agency bonds3,017 (5)1,136 (64)4,153 (69)
Total$21,554 $(639)$74,205 $(2,992)$95,759 $(3,631)
Financial Assets Measured At Fair Value On A Recurring Basis
The following tables summarize our financial assets measured at fair value as of December 31, 2022 and 2021 (in thousands):

DescriptionBalance as of December 31, 2022Level 1
Level 2
Cash equivalents:
Money market funds$229,129 $229,129 $— 
Short-term investments:
U.S. government treasury bonds15,404 15,404 — 
Corporate bonds36,510 — 36,510 
Municipal bonds2,711 — 2,711 
Asset-backed securities2,909 — 2,909 
Long-term investments:
U.S. government treasury bonds4,606 4,606 — 
Corporate bonds29,965 — 29,965 
Municipal bonds675 — 675 
U.S. government agency bonds5,163 — 5,163 
Asset-backed securities1,569 — 1,569 
$328,641 $249,139 $79,502 

DescriptionBalance as of December 31, 2021Level 1
Level 2
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 bonds20,677 20,677 — 
Corporate bonds79,011 — 79,011 
Municipal bonds3,440 — 3,440 
U.S. government agency bonds1,200 — 1,200 
Asset-backed securities20,992 — 20,992 
Prepaid expenses and other current assets:
Israeli funds3,841 — 3,841 
$545,701 $385,938 $159,763 
Schedule of Notional Amounts of Outstanding Derivative Positions
The following tables presents the gross notional value of all our foreign exchange forward contracts outstanding as of December 31, 2022 and 2021 (in thousands):

December 31, 2022
Local Currency AmountNotional Contract Amount (USD)
Euro€186,900$200,010 
Polish ZlotyPLN365,98883,307 
Canadian DollarC$109,00080,514 
Chinese Yuan¥471,00068,223 
British Pound£41,20049,677 
Japanese Yen¥6,200,00047,196 
Israeli ShekelILS110,03031,383 
Swiss FrancCHF25,00027,165 
Brazilian RealR$141,20026,839 
Mexican PesoM$230,00011,746 
New Zealand DollarNZ$6,0003,806 
Australian DollarA$4,0002,721 
Czech KorunaKč56,0002,469 
New Taiwan DollarNT$60,0001,959 
$637,015 

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