| Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis |
The following tables summarize the Company’s financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):
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March 31, 2025 |
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Level 1 |
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Level 2 |
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Total |
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Assets: |
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|
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Cash equivalents: |
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Money market funds |
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$ |
159,890 |
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$ |
- |
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$ |
159,890 |
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Commercial paper |
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|
- |
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43,679 |
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|
43,679 |
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U.S. treasury securities |
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|
- |
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|
14,721 |
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|
14,721 |
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Corporate notes and bonds |
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|
- |
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4,371 |
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|
4,371 |
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Marketable securities: |
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U.S. treasury securities |
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|
- |
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|
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698,049 |
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698,049 |
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Corporate notes and bonds |
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- |
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583,204 |
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|
583,204 |
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U.S. agency obligations |
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|
- |
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240,857 |
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|
|
240,857 |
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Commercial paper |
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- |
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105,371 |
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105,371 |
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Time deposits |
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- |
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10,535 |
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10,535 |
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Derivative instruments: |
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Foreign currency forward contracts |
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|
- |
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|
|
2,194 |
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|
|
2,194 |
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Total assets |
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$ |
159,890 |
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|
$ |
1,702,981 |
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|
$ |
1,862,871 |
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Liabilities: |
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Derivative instruments: |
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Foreign currency forward contracts |
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$ |
- |
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$ |
2,588 |
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$ |
2,588 |
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Total liabilities |
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$ |
- |
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$ |
2,588 |
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$ |
2,588 |
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December 31, 2024 |
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Level 1 |
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Level 2 |
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Total |
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Assets: |
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|
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Cash equivalents: |
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Money market funds |
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$ |
326,576 |
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|
$ |
- |
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|
$ |
326,576 |
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U.S. treasury securities |
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|
- |
|
|
|
11,489 |
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|
11,489 |
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Marketable securities: |
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U.S. treasury securities |
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|
- |
|
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667,651 |
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|
667,651 |
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Corporate notes and bonds |
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|
- |
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515,613 |
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|
515,613 |
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U.S. agency obligations |
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|
- |
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253,935 |
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|
253,935 |
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Commercial paper |
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|
- |
|
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|
80,378 |
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|
80,378 |
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Time deposits |
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|
- |
|
|
|
7,006 |
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|
7,006 |
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Derivative instruments: |
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|
|
|
|
|
|
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Foreign currency forward contracts |
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|
- |
|
|
|
1,062 |
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|
1,062 |
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Total assets |
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$ |
326,576 |
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|
$ |
1,537,134 |
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$ |
1,863,710 |
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Liabilities: |
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Derivative instruments: |
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Foreign currency forward contracts |
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$ |
- |
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$ |
5,914 |
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$ |
5,914 |
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Total liabilities |
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$ |
- |
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$ |
5,914 |
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$ |
5,914 |
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