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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Estimated Fair Value of Our Cash Equivalents and Marketable Securities

The following table summarizes the estimated fair value of our cash equivalents and marketable securities.

 

 

 

As of December 31, 2021

 

(in thousands)

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

Total

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

262,679

 

 

$

 

 

$

 

 

$

262,679

 

U.S treasury securities

 

$

21,926

 

 

$

 

 

$

 

 

$

21,926

 

Corporate securities

 

$

 

 

$

80,389

 

 

$

 

 

$

80,389

 

Total financial assets

 

$

284,605

 

 

$

80,389

 

 

$

 

 

$

364,994

 

 

 

 

As of December 31, 2020

 

(in thousands)

 

(Level 1)

 

 

(Level 2)

 

 

(Level 3)

 

 

Total

 

Financial assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

196,521

 

 

$

 

 

$

 

 

$

196,521

 

 

 

 

As of December 31, 2021

 

(in thousands)

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Estimated

Fair Value

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

262,679

 

 

$

 

 

$

 

 

$

262,679

 

Marketable securities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

U.S treasury securities

 

$

21,999

 

 

 

 

 

 

$

(74

)

 

$

21,925

 

Corporate securities

 

$

80,506

 

 

$

 

 

$

(117

)

 

$

80,389

 

 

 

 

As of December 31, 2020

 

(in thousands)

 

Amortized

Cost

 

 

Gross

Unrealized

Gains

 

 

Gross

Unrealized

Losses

 

 

Estimated

Fair Value

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

196,521

 

 

$

 

 

$

 

 

$

196,521