Fair Value (Tables)

6 Months Ended

Jun. 30, 2020

Fair Value Disclosures [Abstract]

Summary of the Company's Assets and Liabilities Measured at Fair Value on a Recurring Basis

The following table presents information about the Company’s assets and liabilities at June 30, 2020 and December 31, 2019 that are measured at fair value on a recurring basis and indicates the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

	June 30,
(In thousands)	2020		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	1,764	$	1,764	$	—	$	—
U.S. government and agency debt securities		99,514		63,669		35,845		—
Corporate debt securities		168,968		—		167,015		1,953
International government agency debt securities		78,528		—		78,528		—
Contingent consideration		45,063		—		—		45,063
Total	$	393,837	$	65,433	$	281,388	$	47,016

	December 31,
	2019		Level 1		Level 2		Level 3
Assets:
Cash equivalents	$	8,064	$	8,064	$	—	$	—
U.S. government and agency debt securities		117,376		73,795		43,581		—
Corporate debt securities		195,855		—		193,902		1,953
International government agency debt securities		93,779		—		93,779		—
Contingent consideration		32,400		—		—		32,400
Total	$	447,474	$	81,859	$	331,262	$	34,353

Rollforward of the Fair Value of the Assets Determined using Level 3 Inputs

The following table is a rollforward of the fair value of the Company’s assets whose fair values were determined using Level 3 inputs at June 30, 2020:

(In thousands)	Fair Value
Balance, January 1, 2020	$	34,353
Change in the fair value of contingent consideration		12,700
Payments due to the Company related to contingent consideration		(37	)
Balance, June 30, 2020	$	47,016