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Fair Value Measurement (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

Financial assets and liabilities subject to fair value measurements on a recurring basis and the level of inputs used in such measurements are as follows (in thousands):

 

 

 

December 31, 2022

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Aggregate
fair value

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

U.S. government treasury securities

 

$

25,442

 

 

$

 

 

$

 

 

$

25,442

 

Fixed income securities

 

 

 

 

 

6,639

 

 

 

 

 

 

6,639

 

Asset backed securities

 

 

 

 

 

1,123

 

 

 

 

 

 

1,123

 

Total assets

 

$

25,442

 

 

$

7,762

 

 

$

 

 

$

33,204

 

 

 

 

December 31, 2021

 

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Aggregate
Fair Value

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

$

3,180

 

 

$

 

 

$

 

 

$

3,180

 

Fixed income securities

 

 

 

 

 

54,224

 

 

 

 

 

 

54,224

 

Asset backed securities

 

 

 

 

 

28,351

 

 

 

 

 

 

28,351

 

Total assets

 

$

3,180

 

 

$

82,575

 

 

$

 

 

$

85,755

 

Contractual Maturities of Available for Sale Securities

The contractual maturities of available for sale securities of December 31, 2022 and 2021, are as follows (in thousands):

 

 

 

December 31,

 

 

 

2022

 

 

2021

 

Within one year

 

$

6,669

 

 

$

49,699

 

Within one to five years

 

 

1,093

 

 

 

32,876

 

Total contractual maturities

 

$

7,762

 

 

$

82,575