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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2024
Fair Value Disclosures [Abstract]  
Fair Value, Assets and Liabilities Measured on Recurring Basis

The following tables summarize assets and liabilities measured at fair value on a recurring basis:

 

 

 

June 30, 2024

 

(In thousands)

 

Total

 

 

Quoted market
prices in active
markets
(Level 1)

 

 

Significant
other
observable
inputs
(Level 2)

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents: money-market funds

 

$

29,385

 

 

$

29,385

 

 

$

 

Available-for-sale investments: U.S. treasury securities(1)

 

 

108,250

 

 

 

 

 

 

108,250

 

Trading securities: mutual funds(1)

 

 

8,722

 

 

 

8,722

 

 

 

 

Available-for-sale investments: corporate equity securities (1)

 

 

262

 

 

 

262

 

 

 

 

Foreign currency forward contracts(2)

 

 

235

 

 

 

 

 

235

 

Total assets measured at fair value

 

$

146,854

 

 

$

38,369

 

 

$

108,485

 

Liabilities:

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts(3)

 

$

213

 

 

$

 

 

$

213

 

Total liabilities measured at fair value

 

$

213

 

 

$

 

 

$

213

 

 

 

 

 

December 31, 2023

 

(In thousands)

 

Total

 

 

Quoted market
prices in active
markets
(Level 1)

 

 

Significant
other
observable
inputs
(Level 2)

 

Assets:

 

 

 

 

 

 

 

 

 

Cash equivalents: money-market funds

 

$

25,986

 

 

$

25,986

 

 

$

 

Available-for-sale investments: U.S. treasury securities(1)

 

 

98,454

 

 

 

 

 

 

98,454

 

Trading securities: mutual funds(1)

 

 

8,304

 

 

 

8,304

 

 

 

 

Available-for-sale investments: convertible debt securities(1)

 

 

173

 

 

 

 

 

 

173

 

Foreign currency forward contracts(2)

 

 

291

 

 

 

 

 

291

 

Total assets measured at fair value

 

$

133,208

 

 

$

34,290

 

 

$

98,918

 

Liabilities:

 

 

 

 

 

 

 

 

 

Foreign currency forward contracts(3)

 

$

1,691

 

 

$

 

 

$

1,691

 

Total liabilities measured at fair value

 

$

1,691

 

 

$

 

 

$

1,691

 

 

 

(1)
Included in Short-term investments on the Company’s unaudited condensed consolidated balance sheets.
(2)
Included in Prepaid expenses and other current assets on the Company’s unaudited condensed consolidated balance sheets.
(3)
Included in Other accrued liabilities on the Company's unaudited condensed consolidated balance sheets.