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Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]  
Schedule of cash, cash equivalents and marketable securities
The following table sets forth the cash, cash equivalents, and marketable securities as of December 31, 2019 (in thousands):
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair ValueCash and
Cash
Equivalents
Marketable
Securities
Cash$126,293  $—  $—  $126,293  $126,293  $—  
Money market funds107,708  —  —  107,708  107,708  —  
U.S. government agencies77,316  48  —  77,364  30,375  46,989  
Corporate debt securities207,063  85  (11) 207,137  70,103  137,034  
Total$518,380  $133  $(11) $518,502  $334,479  $184,023  

The following table sets forth the cash, cash equivalents, and marketable securities as of December 31, 2018 (in thousands):
Amortized
Cost
Gross
Unrealized
Gains
Gross
Unrealized
Losses
Fair ValueCash and
Cash
Equivalents
Marketable
Securities
Cash$148,110  $—  $—  $148,110  $148,110  $—  
Money market funds273,546  —  —  273,546  273,546  —  
U.S. government agencies72,884   (45) 72,840  9,738  63,102  
Corporate debt securities229,040  —  (87) 228,953  42,562  186,391  
Total$723,580  $ $(132) $723,449  $473,956  $249,493  
The following table classifies marketable securities by contractual maturities (in thousands):
 December 31, 2019December 31, 2018
 
Due in one year$173,827  $249,493  
Due in one to two years10,196  —  
Total$184,023  $249,493  
Schedule of derivative instruments in statement of financial position, fair value The following table presents the fair value of the Company’s foreign currency derivative contracts as of the dates presented (in thousands):
  December 31, 2019December 31, 2018
 Balance Sheet LocationFair
Value
Derivative
Assets
Fair
Value
Derivative
Liabilities
Fair
Value
Derivative
Assets
Fair
Value
Derivative
Liabilities
Hedges not designatedPrepaid expense and other current assets$—  $—  $623  $—  
Hedges not designatedAccrued liabilities—  748  —  549  
Total fair value of derivative instruments$—  $748  $623  $549  
Schedule of cash flow hedging instruments, statement of operations The following table presents the pre-tax impact of the Company’s foreign currency derivative contracts on other comprehensive income (“OCI”) and the consolidated statement of operations for the periods presented (in thousands): 
  Year Ended
December 31,
 Income Statement Location201920182017
Foreign exchange cash flow hedges:
Gain (loss) recognized in OCI—effective portion$—  $8,405  $(19,436) 
Gain (loss) reclassified from OCI into income—effective portionRevenue—  8,405  (18,532) 
Gain (loss) reclassified from OCI into income—effective portionOperating expenses—  —  (1,405) 
Gain (loss) recognized in income—ineffective portionOther income (expense), net—  —  21  
Gain recognized in income—excluded time value portionOther income (expense), net—  —  1,771  
Foreign exchange balance sheet hedges:
Gain (loss) recognized in incomeOther income (expense), net$(2,122) $6,240  $(10,516) 
Schedule of effects of derivative contracts on Consolidated Statements Of Operations
The following table provides the location in the consolidated statements of operations and amount of the recognized gains or losses to the Company’s derivative instruments designated as hedging instruments (in thousands):
Year Ended December 31,
201920182017
Total amounts presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded in revenue $1,434,788  $1,511,983  $1,615,519  
Total amounts presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded in operating expenses748,385  792,887  891,988  
Gain (loss) on foreign exchange contracts designated as cash flow hedges reclassified from OCI into revenue—  8,405  (18,532) 
Loss on foreign exchange contracts designated as cash flow hedges reclassified from OCI into operating expenses—  —  (1,405) 
Schedule of offsetting derivative assets
The following table sets forth the available offsetting of net derivative assets and net derivative liabilities under the master netting arrangements as of December 31, 2019 and December 31, 2018 (in thousands):
December 31, 2019
 Gross Amounts Offset in the Consolidated Balance SheetsGross Amounts Not Offset in Consolidated Balance Sheets
 Gross Amount RecognizedGross Amount OffsetNet Amount PresentedFinancial InstrumentsCash Collateral ReceivedNet Amount
Foreign exchange contracts assets$—  $—  $—  $—  $—  $—  
Foreign exchange contracts liabilities748  —  748  —  —  748  
December 31, 2018
 Gross Amounts Offset in the Consolidated Balance SheetsGross Amounts Not Offset in Consolidated Balance Sheets
 Gross Amounts RecognizedGross Amounts OffsetNet Amount PresentedFinancial
Instruments
Cash Collateral
Received
Net
Amount
Foreign exchange contracts assets$623  $—  $623  $549  $—  $74  
Foreign exchange contracts liabilities549  —  549  549  —  —  
Schedule of offsetting derivative liabilities
The following table sets forth the available offsetting of net derivative assets and net derivative liabilities under the master netting arrangements as of December 31, 2019 and December 31, 2018 (in thousands):
December 31, 2019
 Gross Amounts Offset in the Consolidated Balance SheetsGross Amounts Not Offset in Consolidated Balance Sheets
 Gross Amount RecognizedGross Amount OffsetNet Amount PresentedFinancial InstrumentsCash Collateral ReceivedNet Amount
Foreign exchange contracts assets$—  $—  $—  $—  $—  $—  
Foreign exchange contracts liabilities748  —  748  —  —  748  
December 31, 2018
 Gross Amounts Offset in the Consolidated Balance SheetsGross Amounts Not Offset in Consolidated Balance Sheets
 Gross Amounts RecognizedGross Amounts OffsetNet Amount PresentedFinancial
Instruments
Cash Collateral
Received
Net
Amount
Foreign exchange contracts assets$623  $—  $623  $549  $—  $74  
Foreign exchange contracts liabilities549  —  549  549  —  —