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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Fair Value of Financial Assets and Liabilities

The following tables present information about the fair value of the Company’s financial assets and liabilities as of December 31, 2022 and 2021 and indicate the level of the fair value hierarchy utilized to determine such fair values:

 

 

Fair Value Measurements as of December 31, 2022 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit—restricted cash

 

$

 

 

$

1,013

 

 

$

 

 

$

1,013

 

Money market mutual funds

 

 

90,984

 

 

 

 

 

 

 

 

 

90,984

 

 

 

$

90,984

 

 

$

1,013

 

 

$

 

 

$

91,997

 

 

 

 

Fair Value Measurements as of December 31, 2021 Using:

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Certificates of deposit—restricted cash

 

$

 

 

$

1,001

 

 

$

 

 

$

1,001

 

Money market mutual funds

 

 

93,792

 

 

 

 

 

 

 

 

 

93,792

 

Forward currency forward contract

 

 

 

 

 

5

 

 

 

 

 

 

5

 

 

 

$

93,792

 

 

$

1,006

 

 

$

 

 

$

94,798

 

Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

SARs

 

$

 

 

$

 

 

$

358

 

 

$

358

 

Summary of Changes in Fair Values of SARs Liability

The following table provides a summary of changes in the fair values of the Company’s SARs liability, for which fair value is determined by Level 3 inputs:

 

 

Year Ended December 31,

 

 

 

2022

 

 

2021

 

 

2020

 

Fair value at beginning of the year

 

$

358

 

 

$

493

 

 

$

264

 

Change in fair value

 

 

(159

)

 

 

 

 

 

229

 

Exercises

 

 

(199

)

 

 

(135

)

 

 

 

Fair value at end of year

 

$

 

 

$

358

 

 

$

493

 

Summary of Company's Cash and Cash Equivalents

The Company’s cash, cash equivalents and restricted cash as of December 31, 2022 and 2021 consisted of the following:

 

 

December 31,

 

 

 

2022

 

 

2021

 

Cash

 

$

35,328

 

 

$

60,911

 

Cash equivalents and restricted cash:

 

 

 

 

 

 

Restricted cash

 

 

3,113

 

 

 

3,101

 

Money market mutual funds

 

 

90,984

 

 

 

93,792

 

Total cash equivalents and restricted cash

 

 

94,097

 

 

 

96,893

 

Total cash, cash equivalents and restricted cash

 

$

129,425

 

 

$

157,804