Fair Value (Tables)

9 Months Ended

Sep. 30, 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 September 30, 2023 and December 31, 2022:

	Fair Value Measurements as of September 30, 2023
	Total		Level 1		Level 2		Level 3
	(In thousands)
Assets
Cash equivalents:
Money market funds	$	444,303	$	444,303	$	—	$	—
Marketable securities:
Marketable equity securities	58,411		58,411		—		—
Mortgage-backed and asset-backed securities	42,627		—		42,627		—
Securities held in NQDC trust	67,324		67,324		—		—
Total Assets	$	612,665	$	570,038	$	42,627	$	—

	Total		Level 1		Level 2		Level 3
	(In thousands)
Liabilities
Foreign currency exchange contracts	$	10,102	$	—	$	10,102	$	—
Total Liabilities	$	10,102	$	—	$	10,102	$	—
	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.