FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2024

Schedule of Assets and Liabilities Measured at Fair Value

Assets and liabilities measured at fair value on a recurring basis:


	June 30, 2024								December 31, 2023
(in thousands)	Level 1		Level 2		Level 3		Total		Level 1		Level 2		Level 3		Total
Cash equivalents	$	18,345	$	—	$	—	$	18,345	$	54,357	$	—	$	—	$	54,357
Marketable securities	$	—	$	406,819	$	—	$	406,819	$	—	$	193,436	$	—	$	193,436
Capped Call Transactions	$	—	$	915	$	—	$	915	$	—	$	893	$	—	$	893
Venture investments (1)	$	—	$	—	$	21,047	$	21,047	$	—	$	—	$	19,450	$	19,450

(1) Investments in privately-held companies

Schedule of Changes in Venture Investments

Changes in venture investments:


	Six Months Ended June 30,
(in thousands)	2024		2023
January 1,	$	19,450	$	13,069
New investments	350		400
Sales of investments	—		(2,773)
Changes in foreign exchange rates	(19)		119
Changes in fair value:
included in other income, net	1,628		4,475
included in other comprehensive income (loss)	(362)		(1,908)
June 30,	$	21,047	$	13,382

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset.

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