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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2022

Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table summarizes the financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2022 (in thousands):


	Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Unobservable Inputs (Level 3)
Assets:

Money market instruments	$	415	$	—	$	—
Corporate bonds	—		538,495		—
Asset-backed securities	—		60,429		—
Treasury bills	—		55,546		—

Agency bonds	—		15,858		—
Sovereign bonds	—		1,924		—
Municipal bonds	—		624		—


Economic hedge forward contracts	—		27		—
Liabilities:

Economic hedge forward contracts	—		479		—