v3.22.1
Fair Value Measurement and Financial Instruments (Tables)
 3 Months Ended
Mar. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Fair Value Hierarchy for Financial Assets and Liabilities Measured at Fair Value
The following table summarizes the Company’s financial assets and liabilities measured at fair value on a recurring basis (in thousands):
As of December 31, 2021
Level 1Level 2Level 3Total
Assets
Cash equivalents:
Money market funds$1,923,184 $— $— $1,923,184 
Certificates of deposit31,117 — — 31,117 
Commercial paper— 163,959 — 163,959 
Corporate debt securities— 41,439 — 41,439 
1,954,301 205,398 — 2,159,699 
Marketable securities:
Certificates of deposit364,234 — — 364,234 
U.S. government and government agency debt securities— 863 — 863 
Commercial paper— 993,004 — 993,004 
Corporate debt securities— 862,901 — 862,901 
Mortgage-backed and asset-backed securities— 34,036 — 34,036 
364,234 1,890,804 — 2,255,038 
Funds receivable and amounts held on behalf of customers:
Money market funds466,319 — — 466,319 
Prepaids and other current assets:
Foreign exchange derivative assets— 25,918 — 25,918 
Other assets, noncurrent:
Corporate debt securities— — 10,451 10,451 
Total assets at fair value$2,784,854 $2,122,120 $10,451 $4,917,425 
Liabilities
Accrued expenses and other current liabilities:
Foreign exchange derivative liabilities$— $10,280 $— $10,280 
Total liabilities at fair value$— $10,280 $— $10,280 
As of March 31, 2022
Level 1Level 2Level 3Total
Assets
Cash equivalents:
Money market funds$2,484,384 $— $— $2,484,384 
Certificates of deposit60,919 — — 60,919 
Commercial paper— 265,857 — 265,857 
Corporate debt securities— 35,914 — 35,914 
2,545,303 301,771 — 2,847,074 
Marketable securities:
Certificates of deposit472,750 — — 472,750 
U.S. government and government agency debt securities— 350,450 — 350,450 
Commercial paper— 838,815 — 838,815 
Corporate debt securities— 741,971 — 741,971 
Mortgage-backed and asset-backed securities— 31,675 — 31,675 
472,750 1,962,911 — 2,435,661 
Funds receivable and amounts held on behalf of customers:
Money market funds1,203,019 — — 1,203,019 
U.S. government and government agency debt securities— 113,981 — 113,981 
Prepaids and other current assets:
Foreign exchange derivative assets— 16,129 — 16,129 
Other assets, noncurrent:
Corporate debt securities— — 10,511 10,511 
Total assets at fair value$4,221,072 $2,394,792 $10,511 $6,626,375 
Liabilities
Accrued expenses and other current liabilities:
Foreign exchange derivative liabilities$— $24,452 $— $24,452 
Total liabilities at fair value$— $24,452 $— $24,452 
Schedule of Fair Value Assets Measured on Recurring Basis, Rollforward
The following table presents additional information about investments that are measured at fair value for which the Company has utilized Level 3 inputs to determine fair value (in thousands):

December 31,
2021		March 31,
2022
Other Assets, Noncurrent
Balance, beginning of period$11,490 $10,451 
Total realized and unrealized gains (losses):
Included in earnings— — 
Included in other comprehensive loss(1,039)60 
Balance, end of period$10,451 $10,511 
Changes in unrealized gains or losses included in other comprehensive loss related to investments held at the reporting date$(1,039)$60 
Schedule of Fair Value Liabilities Measured on Recurring Basis, Rollforward
The following table presents additional information about investments that are measured at fair value for which the Company has utilized Level 3 inputs to determine fair value (in thousands):

December 31,
2021		March 31,
2022
Other Assets, Noncurrent
Balance, beginning of period$11,490 $10,451 
Total realized and unrealized gains (losses):
Included in earnings— — 
Included in other comprehensive loss(1,039)60 
Balance, end of period$10,451 $10,511 
Changes in unrealized gains or losses included in other comprehensive loss related to investments held at the reporting date$(1,039)$60