FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2024

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 the valuation techniques it utilizes to determine such fair value:

	Fair Value Measurement as of September 30, 2024
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	21,951	$	21,951	$	—	$	—
Commercial paper		34,995		—		34,995		—
Government and government agency bonds		900,407		13,494		886,913		—
Corporate bonds		233,245		—		233,245		—
Strategic investments		4,723		3,723		—		1,000
Certificates of deposit		17,988		—		17,988		—
Derivative assets		44,622		—		44,622		—
Total assets	$	1,257,931	$	39,168	$	1,217,763	$	1,000
Liabilities
Contingent consideration	$	47,400	$	—	$	—	$	47,400
Total liabilities	$	47,400	$	—	$	—	$	47,400

	Fair Value Measurement as of December 31, 2023
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	63,919	$	63,919	$	—	$	—
Commercial paper		113,362		—		113,362		—
Government and government agency bonds		1,001,137		—		1,001,137		—
Corporate bonds		130,380		—		130,380		—
Strategic investments		6,527		5,527		—		1,000
Certificates of deposit		56,621		—		56,621		—
Total assets	$	1,371,946	$	69,446	$	1,301,500	$	1,000
Liabilities
Contingent consideration	$	38,100	$	—	$	—	$	38,100
Total liabilities	$	38,100	$	—	$	—	$	38,100

Summary of Fair Value of Level 3 Financial Liabilities

The following table represents a roll-forward of the fair value of Level 3 financial liabilities for the periods indicated:

	As of September 30, 2024			As of September 30, 2023
	(in thousands)
Fair value, as of beginning of year	$	38,100		$	36,900
Change in estimated fair value		9,500			2,000
Liabilities terminated		(200	)		(800	)
Fair value, as of end of period	$	47,400		$	38,100