FAIR VALUE (Tables)

3 Months Ended

Mar. 31, 2024

The fair value of financial assets and liabilities was determined using the following levels of inputs as of March 31, 2024 and December 31, 2023:


	Fair Value Measurements as of March 31, 2024
	Total		Level 1		Level 2		Level 3
	(In thousands)
Assets
Cash equivalents:
Money market funds	$	472,883	$	472,883	$	—	$	—
Marketable securities:
Marketable equity securities	93,591		93,591		—		—
Mortgage-backed and asset-backed securities	51,008		—		51,008		—

Securities held in NQDC trust	81,464		81,464		—		—

Total Assets	$	698,946	$	647,938	$	51,008	$	—

	Total		Level 1		Level 2		Level 3
	(In thousands)
Liabilities
Foreign currency exchange contracts	$	345	$	—	$	345	$	—
Total Liabilities	$	345	$	—	$	345	$	—



	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 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.