Quarterly report pursuant to Section 13 or 15(d)

Fair Value Measures (Tables)

v3.23.1
Fair Value Measures (Tables)
 3 Months Ended
Mar. 31, 2023
Mar. 31, 2022
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, 2023 are as follows:

(in thousands) Level 1 Level 2 Level 3 Total
Assets:
Cash equivalents:
Money market funds $ 106,092  $ —  $ —  $ 106,092 
U.S. Government treasury bills —  49,695  —  49,695 
Short-term investments:
Available-for-sale short-term investments: (1)
U.S. Government treasury bills —  98,746  —  98,746 
Other short-term investments:
Money market funds 284  —  —  284 
Mutual fund shares 482  —  —  482 
Prepaid expenses and other current assets:
Derivative financial instruments —  17,716  —  17,716 
Other non-current assets:
Money market funds 1,712  —  —  1,712 
Mutual fund shares 20,762  —  —  20,762 
Derivative financial instruments —  5,935  —  5,935 
Total assets measured at fair value $ 129,332  $ 172,092  $ —  $ 301,424 
Liabilities:
Accrued liabilities:
Derivative financial instruments $ —  $ 4,887  $ —  $ 4,887 
Other long-term liabilities:
Derivative financial instruments —  1,788  —  1,788 
Total liabilities measured at fair value $ —  $ 6,675  $ —  $ 6,675 
(1) Available-for-sale short-term investments have remaining maturities of less than one year.
Assets and liabilities measured at fair value on a recurring basis as of March 31, 2022 are as follows:

(in thousands) Level 1 Level 2 Level 3 Total
Assets:
Cash equivalents:
Money market funds $ 142  $ —  $ —  $ 142 
Short-term investments:
Available-for-sale short-term investments: (1)
U.S. Government treasury bills —  174,435  —  174,435 
Other short-term investments:
Money market funds 145  —  —  145 
Mutual fund shares 444  —  —  444 
Other current assets:
Derivative financial instruments —  11,072  —  11,072 
Non-current assets:
Money market funds 1,383  —  —  1,383 
Mutual fund shares 20,730  —  —  20,730 
Derivative financial instruments —  7,351  —  7,351 
Total assets measured at fair value $ 22,844  $ 192,858  $ —  $ 215,702 
Liabilities:
Accrued liabilities:
Derivative financial instruments $ —  $ 4,313  $ —  $ 4,313 
Other long-term liabilities:
Derivative financial instruments —  1,383  —  1,383 
Total liabilities measured at fair value $ —  $ 5,696  $ —  $ 5,696 
(1) Available-for-sale short-term investments have remaining maturities of less than one year.
Assets and liabilities measured at fair value on a recurring basis as of December 31, 2022 are as follows:

(in thousands) Level 1 Level 2 Level 3 Total
Assets:
Cash equivalents:
Money market funds $ 120,481  $ —  $ —  $ 120,481 
Short-term investments:
Other short-term investments:
Money market funds 80  —  —  80 
Mutual fund shares 642  —  —  642 
Prepaid and other current assets:
Derivative financial instruments —  23,333  —  23,333 
Other non-current assets:
Money market funds 1,456  —  —  1,456 
Mutual fund shares 19,026  —  —  19,026 
Derivative financial instruments —  7,153  —  7,153 
Total assets measured at fair value $ 141,685  $ 30,486  $ —  $ 172,171 
Liabilities:
Accrued liabilities:
Derivative financial instruments $ —  $ 3,782  $ —  $ 3,782 
Other long-term liabilities:
Derivative financial instruments —  1,770  —  1,770 
Total liabilities measured at fair value $ —  $ 5,552  $ —  $ 5,552