Investments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Assets And Liabilities Measured At Fair Value On A Recurring Basis

Assets and Liabilities Measured at Fair Value on a Recurring Basis

	As of March 31, 2021		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Cash and cash equivalents:
Cash	$	401,653	$	401,653	$	—	$	—
Money market funds	74,385		74,385		—		—
Corporate securities	1,705		—		1,705		—
Available-for-sale securities:
Corporate securities	27,298		—		26,798		500
Government securities	5,000		—		5,000		—
Prepaid expenses and other current assets:
Foreign currency derivatives	14,334		—		14,334		—
Total assets	$	524,375	$	476,038	$	47,837	$	500
Accrued expenses and other current liabilities:
Foreign currency derivatives	1,101		—		1,101		—
Total liabilities	$	1,101	$	—	$	1,101	$	—

	As of December 31, 2020		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	(In thousands)
Assets:
Cash and cash equivalents:
Cash	$	375,874	$	375,874	$	—	$	—
Money market funds	23,089		23,089		—		—
Corporate securities	166,436		—		166,436		—
Government securities	187,496		—		187,496		—
Available-for-sale securities:
Agency securities	3,300		—		3,300		—
Corporate securities	70,684		—		70,184		500
Government securities	64,494		—		64,494		—
Prepaid expenses and other current assets:
Foreign currency derivatives	4,012		—		4,012		—
Total assets	$	895,385	$	398,963	$	495,922	$	500
Accrued expenses and other current liabilities:
Foreign currency derivatives	1,447		—		1,447		—
Total liabilities	$	1,447	$	—	$	1,447	$	—

Fair Value, by Balance Sheet Grouping

As of March 31, 2021, the fair values of the $750.0 million unsecured senior notes due March 1, 2030 (the “2030 Notes”), $750.0 million unsecured senior notes due December 1, 2027 (the “2027 Notes”), and $750.0 million 2026 Notes were determined based on inputs that are observable in the market (Level 2). Based on the closing trading price per $100 as of the last day of trading for the quarter ended March 31, 2021, the carrying value was as follows (in thousands):

	Fair Value		Carrying Value
2030 Notes	$	770,423	$	739,401
2027 Notes	$	852,608	$	744,039
2026 Notes	$	738,908	$	741,596