Cash, Cash Equivalents, and Restricted Cash

9 Months Ended

Sep. 30, 2023

Cash, Cash Equivalents, and Restricted Cash

Cash, Cash Equivalents, and Restricted Cash

4. Cash, Cash Equivalents, and Restricted Cash

The following table provides a reconciliation of cash, cash equivalents, and restricted cash reported within the current period and comparable prior year period condensed consolidated balance sheets that sum to the total of the same such amounts shown on the condensed consolidated statements of cash flows.

	September 30,
(In thousands)	2023		2022
Cash and cash equivalents	$	71,685	$	418,538
Restricted cash		836		836
Total cash, cash equivalents, and restricted cash shown on the condensed consolidated statements of cash flows	$	72,521	$	419,374

The Company maintains restricted cash for certain lease agreements and letters of credit by which the Company has pledged cash and cash equivalents as collateral. The cash-related amounts reported in the table above exclude the Company’s investments in short and long-term marketable securities, if any, that are reported separately on the condensed consolidated balance sheets.

The decrease in cash and cash equivalents, compared to the prior year period, was primarily due the Company’s capital return program that was initiated in September 2022 (see Note 10. Strategic Actions for further information).

The Company periodically engages in foreign exchange transactions as a part of its operations. For the three and nine months ended September 30, 2023, the Company’s net realized and unrealized foreign currency gains were not material, and for the three and nine months ended September 30, 2022, the Company recognized net realized and unrealized foreign currency losses of $0.4 million and $1.5 million, respectively. These amounts are included in the Company’s condensed consolidated statements of operations within “Interest income and other income (expense), net”.