FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2022

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 valuation techniques it utilizes to determine such fair value:

	Fair Value Measurement as of September 30, 2022
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	508,864	$	508,864	$	—	$	—
Commercial paper		176,782		—		176,782		—
Government and government agency bonds		749,131		—		749,131		—
Corporate bonds		174,313		—		174,313		—
Strategic equity investments		33,244		669		—		32,575
Certificates of deposit		48,811		—		48,811		—
Total assets	$	1,691,145	$	509,533	$	1,149,037	$	32,575
Liabilities
Contingent consideration	$	36,900	$	—	$	—	$	36,900
Total liabilities	$	36,900	$	—	$	—	$	36,900

	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

Summary of Fair Value of Level 3 Financial Liabilities

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

	As of September 30, 2022
	(in thousands)
Fair value, as of December 31, 2021	$	43,600
Change in estimated fair value		(6,700	)
Fair value, as of September 30, 2022	$	36,900

	As of September 30, 2021
	(in thousands)
Fair value, as of December 31, 2020	$	50,800
Change in estimated fair value		(7,200	)
Fair value, as of September 30, 2021	$	43,600