Investments and Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of Assets And Liabilities Measured At Fair Value On A Recurring Basis

Assets and Liabilities Measured at Fair Value on a Recurring Basis


	As of December 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	$	425,650	$	425,650	$	—	$	—
Money market funds	70,893		70,893		—		—

Corporate securities	17,450		—		17,450		—

Available-for-sale securities:

Corporate securities	27,940		—		27,440		500


Prepaid expenses and other current assets:
Foreign currency derivatives	741		—		741		—
Total assets	$	542,674	$	496,543	$	45,631	$	500
Accrued expenses and other current liabilities:
Foreign currency derivatives	1,531		—		1,531		—
Total liabilities	$	1,531	$	—	$	1,531	$	—


	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	$	—

Schedule of Fair Value, by Balance Sheet Grouping

Based on the closing trading price per $100 as of the last day of trading for the year ended December 31, 2021, the fair value of these instruments was as follows (in thousands):


	Fair Value		Carrying Value
2030 Notes	$	763,418	$	740,287
2027 Notes	$	814,148	$	744,707
2026 Notes	$	730,110	$	742,872