Investments and Cash and Cash Equivalents

3 Months Ended

Mar. 31, 2022

Investments [Abstract]

INVESTMENTS AND CASH AND CASH EQUIVALENTS

INVESTMENTS AND CASH AND CASH EQUIVALENTSCash and cash equivalents include highly liquid instruments with insignificant interest rate risk and original or remaining maturities of three months or less at the time of purchase. These instruments amounted to approximately $201.1 million and

$258.1 million as of March 31, 2022 and December 31, 2021, respectively. See Note 9, Fair Value Measurements, for additional information.

All other investments are classified as held-to-maturity and consist of highly liquid instruments, including commercial paper. As of March 31, 2022, the amortized cost of these investments equaled the net carrying value, which was approximately 50.0 million. All held-to-maturity securities as of March 31, 2022 mature in one year or less. We held no such investments as of December 31, 2021. See Note 9, Fair Value Measurements, for additional information.