FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2023

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 September 30, 2023
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	139,682	$	139,682	$	—	$	—
Commercial paper		88,450		—		88,450		—
Government and government agency bonds		989,257		—		989,257		—
Corporate bonds		145,898		—		145,898		—
Strategic investments		7,500		—		—		7,500
Certificates of deposit		45,066		—		45,066		—
Total assets	$	1,415,853	$	139,682	$	1,268,671	$	7,500
Liabilities
Contingent consideration	$	38,100	$	—	$	—	$	38,100
Total liabilities	$	38,100	$	—	$	—	$	38,100

	Fair Value Measurement as of December 31, 2022
	Total		Level 1		Level 2		Level 3
	(in thousands)
Assets
Money market funds	$	467,553	$	467,553	$	—	$	—
Commercial paper		211,369		—		211,369		—
Government and government agency bonds		807,540		—		807,540		—
Corporate bonds		125,741		—		125,741		—
Strategic investments		31,321		321		—		31,000
Certificates of deposit		42,745		—		42,745		—
Total assets	$	1,686,269	$	467,874	$	1,187,395	$	31,000
Liabilities
Contingent consideration	$	36,900	$	—	$	—	$	36,900
Total liabilities	$	36,900	$	—	$	—	$	36,900

Summary of Fair Value of Level 3 Financial Assets

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

	As of September 30, 2023
	(in thousands)
Fair value, as of December 31, 2022	$	31,000
Additions		4,000
Changes in estimated fair value		(27,500	)
Fair value, as of September 30, 2023	$	7,500

	As of September 30, 2022
	(in thousands)
Fair value, as of December 31, 2021	$	32,412
Additions		163
Fair value, as of September 30, 2022	$	32,575

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, 2023
	(in thousands)
Fair value, as of December 31, 2022	$	36,900
Change in estimated fair value		2,000
Liabilities terminated		(800	)
Fair value, as of September 30, 2023	$	38,100

	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