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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2023
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments Measured at Fair Value
The following table sets forth the Company’s financial instruments that are measured at fair value on a recurring basis based on the three-tier fair value hierarchy (in thousands):
As of March 31, 2023
Balance Sheet LocationTotalLevel 1Level 2Level 3
Financial Assets:
Money market funds(1)
Cash and cash equivalents$910,521 $910,521 $— $— 
Interest rate swapsPrepaid expenses and other current assets$12,033 $— $12,033 $— 
Total financial assets$922,554 $910,521 $12,033 $— 
Financial Liabilities:
Interest rate swapsOther non-current liabilities$10,947 $— $10,947 $— 
As of December 31, 2022
Balance Sheet LocationTotalLevel 1Level 2Level 3
Financial Assets:
Money market funds(1)
Cash and cash equivalents$604,399 $604,399 $— $— 
Interest rate swapsPrepaid expenses and other current assets$7,319 $— $7,319 $— 
Total financial assets$611,718 $604,399 $7,319 $— 
(1) Includes balances in money market deposit accounts of $780.2 million and $524.2 million as of March 31, 2023 and December 31, 2022, respectively.