Source

File: wp-includes/wp-db.php

function _insert_replace_helper( $table, $data, $format = null, $type = 'INSERT' ) {
		$this->insert_id = 0;

		if ( ! in_array( strtoupper( $type ), array( 'REPLACE', 'INSERT' ), true ) ) {
			return false;
		}

		$data = $this->process_fields( $table, $data, $format );
		if ( false === $data ) {
			return false;
		}

		$formats = array();
		$values  = array();
		foreach ( $data as $value ) {
			if ( is_null( $value['value'] ) ) {
				$formats[] = 'NULL';
				continue;
			}

			$formats[] = $value['format'];
			$values[]  = $value['value'];
		}

		$fields  = '`' . implode( '`, `', array_keys( $data ) ) . '`';
		$formats = implode( ', ', $formats );

		$sql = "$type INTO `$table` ($fields) VALUES ($formats)";

		$this->check_current_query = false;
		return $this->query( $this->prepare( $sql, $values ) );
	}