| Fair Value of Assets and Liabilities Measured on Recurring Basis |
| | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | | Balance at
December 31,
2024 | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | | | | | | Cash equivalents | | $ | 496,676 | | $ | 423,977 | | $ | 72,699 | | $ | — | Municipal bonds | | | 15,498 | | | — | | | 15,498 | | | — | Corporate debt securities | | | 54,806 | | | — | | | 54,806 | | | — | Commercial paper | | | 36,530 | | | — | | | 36,530 | | | — | Asset-backed securities | | | 19,621 | | | — | | | 19,621 | | | — | Government, federal agency, and other sovereign obligations | | | 45,298 | | | — | | | 45,298 | | | — | 2025 Hedge | | | 22 | | | — | | | 22 | | | — | Liabilities: | | | | | | | | | | | | | Senior Convertible Notes due 2025 | | | 443,003 | | | 443,003 | | | — | | | — | Bifurcated Conversion Option of the Senior Convertible Notes due 2025 | | | 22 | | | — | | | 22 | | | — | Business acquisition liabilities | | | 123,235 | | | — | | | — | | | 123,235 |
| | | | | | | | | | | | | | | | | | | | | | | | | | (In thousands) | | Balance at
December 31,
2023 | | Level 1 | | Level 2 | | Level 3 | Assets: | | | | | | | | | | | | | Cash equivalents | | $ | 203,689 | | $ | 203,689 | | $ | — | | $ | — | Municipal bonds | | | 18,057 | | | — | | | 18,057 | | | — | Corporate debt securities | | | 58,838 | | | — | | | 58,838 | | | — | Asset-backed securities | | | 17,161 | | | — | | | 17,161 | | | — | Government, federal agency, and other sovereign obligations | | | 31,869 | | | 2,928 | | | 28,941 | | | — | 2025 Hedge | | | 687 | | | — | | | 687 | | | — | | | | | | | | | | | | | | Liabilities: | | | | | | | | | | | | |
Senior Convertible Notes due 2025 | | | 417,363 | | | 417,363 | | | — | | | — | Bifurcated Conversion Option of the Senior Convertible Notes due 2025 | | | 687 | | | — | | | 687 | | | — | Business acquisition liabilities | | | 139,358 | | | — | | | — | | | 139,358 |
|
| Changes in Carrying Value of Business Acquisition Liabilities |
| | | | | | | | | | | | | Year Ended | | December 31, | (In thousands) | 2024 | | 2023 | Beginning balance | $ | 139,358 | | $ | 68,258 | Purchase price contingent consideration | | 25,111 | | | 66,873 | Changes resulting from foreign currency fluctuations | | 246 | | | — | Contingent cash payments | | (64,382) | | | (11,044) | Contingent RSU grants | | (2,500) | | | (1,925) | Changes in fair value of business acquisition liabilities | | 26,521 | | | 17,434 | Contractual payable reclassification | | (1,119) | | | (238) | Ending balance | $ | 123,235 | | $ | 139,358 |
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