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Fair Value Measurements
6 Months Ended
Jun. 30, 2022
Fair Value Disclosures [Abstract]  
Fair Value Measurements

Note 3. Fair Value Measurements

The carrying amounts of the Company’s financial instruments, which include cash equivalents, accounts receivable, accounts payable, accrued liabilities, and other current liabilities, approximate their fair values due to their short maturities.

On June 30, 2022 and December 31, 2021, cash balances in bank checking and savings accounts of $89.1 million and $339.3 million, respectively, were valued using Level 1 of the fair value hierarchy. On June 30, 2022 and December 31, 2021, highly liquid money market funds and treasury bills of $491.2 million and $220.2 million, respectively, were valued using Level 1 of the fair value hierarchy, quoted prices in active markets for identical assets, and are included in cash equivalents.