Fair Value (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Fair value of financial assets and liabilities

The fair value of financial assets and liabilities was determined using the following levels of inputs as of March 31, 2023 and December 31, 2022:

	Fair Value Measurements as of March 31, 2023
	Total		Level 1		Level 2		Level 3
	(In thousands)
Assets
Cash equivalents:
Money market funds	$	555,088	$	555,088	$	—	$	—
Marketable securities:
Marketable equity securities	4,747		4,747		—		—
Mortgage-backed and asset-backed securities	8,983		—		8,983		—
Securities held in Non-Qualified Deferred Compensation (“NQDC”) trust	60,134		60,134		—		—
Total Assets	$	628,952	$	619,969	$	8,983	$	—
	Total		Level 1		Level 2		Level 3
	(In thousands)
Liabilities
Foreign currency exchange contracts	$	573	$	—	$	573	$	—
Total Liabilities	$	573	$	—	$	573	$	—

	Fair Value Measurements as of December 31, 2022
	Total		Level 1		Level 2		Level 3
	(In thousands)
Assets
Cash equivalents:
Money market funds	$	548,373	$	548,373	$	—	$	—
Marketable equity securities	4,490		4,490		—		—
Securities held in NQDC trust	55,605		55,605		—		—
Foreign currency exchange contracts	5,306		—		5,306		—
Total Assets	$	613,774	$	608,468	$	5,306	$	—
As of December 31, 2022, Cadence did not have any financial liabilities requiring a recurring fair value measurement.