Fair Value (Tables)

12 Months Ended

Dec. 31, 2023

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 December 31, 2023, and December 31, 2022:


	Fair Value Measurements as of December 31, 2023
	Total		Level 1		Level 2		Level 3
	(In thousands)
Assets
Cash equivalents:
Money market funds	$	490,983	$	490,983	$	—	$	—
Marketable equity securities:
Marketable equity securities	80,575		80,575		—		—
Mortgage-backed and asset-backed securities	49,785		—		49,785		—
Securities held in NQDC trust	75,671		75,671		—		—
Foreign currency exchange contracts	9,327		—		9,327		—
Total Assets	$	706,341	$	647,229	$	59,112	$	—

As of December 31, 2023, Cadence did not have any financial liabilities requiring a recurring fair value measurement.


	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.