FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured and Carried at Fair Value

The tables below present information about the Company’s financial assets and liabilities that are measured and carried at fair value and indicate the level within the fair value hierarchy of valuation techniques it utilizes to determine such fair value:

	Fair Value Measurement as of September 30, 2021
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	1,287,292	$	1,287,292	$	—	$	—
Strategic equity investments		35,288		2,876		—		32,412
Certificates of deposit		250		250		—		—
Total assets	$	1,322,830	$	1,290,418	$	—	$	32,412
Liabilities
Contingent consideration	$	43,600	$	—	$	—	$	43,600
Total liabilities	$	43,600	$	—	$	—	$	43,600

	Fair Value Measurement as of December 31, 2020
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	629,440	$	629,440	$	—	$	—
Government and government agency bonds		1,037,981		1,037,981		—		—
Strategic equity investments		38,799		3,699		—		35,100
Certificates of deposit		250		250		—		—
Total assets	$	1,706,470	$	1,671,370	$	—	$	35,100
Liabilities
Contingent consideration	$	50,800	$	—	$	—	$	50,800
Total liabilities	$	50,800	$	—	$	—	$	50,800

Summary of Fair Value of Level 3 Financial Assets

The following tables represent a roll-forward of the fair value of Level 3 financial assets for each of the periods indicated:

	As of September 30, 2021
	(in thousands)
Fair value, as of December 31, 2020	$	35,100
Additions		1,800
Change in estimated fair value		(4,488	)
Fair value, as of September 30, 2021	$	32,412

	As of September 30, 2020
	(in thousands)
Fair value, as of December 31, 2019	$	30,000
Additions		—
Change in estimated fair value		—
Fair value, as of September 30, 2020	$	30,000

Summary of Fair Value of Level 3 Financial Liabilities

The following tables represent a roll-forward of the fair value of Level 3 financial liabilities for each of the periods indicated:

	As of September 30, 2021
	(in thousands)
Fair value, as of December 31, 2020	$	50,800
Changes in estimated fair value, net		(7,200	)
Fair value, as of September 30, 2021	$	43,600

	As of September 30, 2020
	(in thousands)
Fair value, as of December 31, 2019	$	5,200
Additions of contingent consideration		300
Changes in estimated fair value		45,000
Fair value, as of September 30, 2020	$	50,500