Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2021

Fair Value Measurements

Schedule of assets and liabilities measured at fair value on a recurring basis

Assets and liabilities measured at fair value on a recurring basis are summarized below (in thousands):

		As of June 30, 2021
		Carrying		Fair		Fair Value Measurements
		Amount		Value		Level 1		Level 2		Level 3
Assets
Cash equivalents (1)	$	141,313	$	141,313	$	87,573	$	53,740	$	—
Corporate bonds		705,084		705,084		—		705,084		—
Commercial paper		329,722		329,722		—		329,722		—
U.S. Treasuries		170,477		170,477		170,477		—		—
Municipal debt		9,984		9,984		—		9,984		—
Certificates of deposit		27,454		27,454		—		27,454		—
Equity securities		120,302		120,302		120,302		—		—
Liabilities
Contingent consideration		9,990		9,990		—		—		9,990
Convertible senior notes		192,011		1,320,194		—		1,320,194		—
Long-term debt		160,484		160,484		—		—		160,484
Finance obligations		195,805		195,805		—		—		195,805
		As of December 31, 2020
		Carrying		Fair		Fair Value Measurements
		Amount		Value		Level 1		Level 2		Level 3
Liabilities
Contingent consideration		9,760		9,760		—		—		9,760
Convertible senior notes		85,640		1,272,766		—		1,272,766		—
Long-term debt		175,402		175,402		—		—		175,402
Finance obligations		181,553		181,553		—		—		181,553

(1) Included in “Cash and cash equivalents” in our unaudited interim condensed consolidated balance sheets as of June 30, 2021.