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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Financial Instruments that were Measured at Fair Value by Level within the Fair Value Hierarchy on a Recurring Basis
The following table sets forth the Company’s financial instruments that were measured at fair value by level within the fair value hierarchy on a recurring basis as of the dates indicated (in thousands):
As of December 31, 2022
Balance Sheet LocationTotalLevel 1Level 2Level 3
Financial Assets:
Unrestricted Balances
Money market funds(1)
Cash and cash equivalents$604,399 $604,399 $— $— 
Interest rate swapPrepaid expenses and other current assets$7,319 $— $7,319 $— 
Total financial assets$611,718 $604,399 $7,319 $— 
As of December 31, 2021
Balance Sheet LocationTotalLevel 1Level 2Level 3
Financial Asset:
Unrestricted Balances
Money market funds(1)
Cash and cash equivalents$1,070,979 $1,070,979 $— $— 
Marketable equity securitiesPrepaid expenses and other current assets$2,532 $2,532 $— $— 
Restricted Balances
Money market fundsRestricted cash equivalents$1,050,000 $1,050,000 $— $— 
Total financial assets$2,123,511 $2,123,511 $— $— 
(1) Includes balances in money market deposit accounts of $524 million and $921 million as of December 31, 2022 and December 31, 2021, respectively.