FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Assets and Liabilities Measured and Carried at Fair Value

The tables below present information about the Company’s financial assets and liabilities that are measured and carried at fair value and indicate the level within the fair value hierarchy of the valuation techniques it utilizes to determine such fair value:

	Fair Value Measurement as of December 31, 2021
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	1,562,358	$	1,562,358	$	—	$	—
Strategic equity investments		34,892		2,480		—		32,412
Certificates of deposit		250		250		—		—
Total assets	$	1,597,500	$	1,565,088	$	—	$	32,412
Liabilities
Contingent consideration	$	43,600	$	—	$	—	$	43,600
Total liabilities	$	43,600	$	—	$	—	$	43,600
	Fair Value Measurement as of December 31, 2020
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	629,440	$	629,440	$	—	$	—
Government and government agency    bonds		1,037,981		1,037,981		—		—
Strategic equity investments		38,799		3,699		—		35,100
Certificates of deposit		250		250		—		—
Total assets	$	1,706,470	$	1,671,370	$	—	$	35,100
Liabilities
Contingent consideration	$	50,800	$	—	$	—	$	50,800
Total liabilities	$	50,800	$	—	$	—	$	50,800

Summary of Fair Value of Level 3 Financial Assets

The following table represents a roll-forward of the fair value of Level 3 financial assets for each of the periods indicated:

	As of December 31,
	2021			2020
	(in thousands)
Fair value, beginning of year	$	35,100		$	30,000
Additions		1,800			5,100
Changes in estimated fair value		(4,488	)		—
Fair value, end of year	$	32,412		$	35,100

Summary of Fair Value of Level 3 Financial Liabilities

The following table represents a roll-forward of the fair value of Level 3 financial liabilities for each of the periods indicated:

	As of December 31,
	2021			2020
	(in thousands)
Fair value, beginning of year	$	50,800		$	5,200
Additions		—			600
Changes in estimated fair value, net		(7,200	)		45,000
Fair value, end of year	$	43,600		$	50,800