v3.22.2.2
Fair Value Measurements and Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 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):
December 31, 2021
Level 1Level 2Level 3Total
Assets
Cash and 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 
Government bonds(1)
— 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 

(1)Includes U.S. government and government agency debt securities
September 30, 2022
Level 1Level 2Level 3Total
Assets
Cash and cash equivalents:
Money market funds$2,699,936 $— $— $2,699,936 
Certificates of deposit6,925 — — 6,925 
Commercial paper— 277,582 — 277,582 
Corporate debt securities— 10,389 — 10,389 
2,706,861 287,971 — 2,994,832 
Marketable securities:
Certificates of deposit592,105 — — 592,105 
Government bonds(1)
— 19,480 — 19,480 
Commercial paper— 709,938 — 709,938 
Corporate debt securities— 745,235 — 745,235 
Mortgage-backed and asset-backed securities— 21,484 — 21,484 
592,105 1,496,137 — 2,088,242 
Funds receivable and amounts held on behalf of customers:
Money market funds496,778 — — 496,778 
Prepaids and other current assets:
Foreign exchange derivative assets— 63,996 — 63,996 
Other assets, noncurrent:
Warrant assets — 3,063 — 3,063 
Corporate debt securities— — 10,412 10,412 
Total assets at fair value$3,795,744 $1,851,167 $10,412 $5,657,323 
Liabilities
Accrued expenses and other current liabilities:
Foreign exchange derivative liabilities$— $10,074 $— $10,074 
Total liabilities at fair value$— $10,074 $— $10,074 
(1)Includes U.S. government and government agency debt securities
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):

Three Months Ended September 30,Nine Months Ended September 30,
2021202220212022
Balance, beginning of period$11,477 $10,465 $11,490 $10,451 
Changes in unrealized losses included in other comprehensive loss related to investments held at the reporting date— (53)(13)(39)
Balance, end of period$11,477 $10,412 $11,477 $10,412 
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):

Three Months Ended September 30,Nine Months Ended September 30,
2021202220212022
Balance, beginning of period$11,477 $10,465 $11,490 $10,451 
Changes in unrealized losses included in other comprehensive loss related to investments held at the reporting date— (53)(13)(39)
Balance, end of period$11,477 $10,412 $11,477 $10,412