Investments

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Investments

Investments

Convertible Debt Investments

In January 2021, the Company purchased two convertible debt securities for a total aggregate investment of $500. Both investments mature on January 1, 2023 and receive interest at an annual rate of 6%. Interest accrues and becomes payable upon conversion of the convertible notes, or will be paid in connection with the repayment in full of the principal amount of such convertible notes.

These convertible note investments are classified as available-for-sale securities and are classified in other long-term assets in the accompanying consolidated balance sheet as of December 31, 2021 based on the maturity date. The Company accounts for these investments, along with the embedded derivatives associated with their conversion features, by utilizing the fair value option within ASC Topic 825, Financial Instruments, and accounting for the entire hybrid instrument at fair value through earnings. Changes in fair value of the convertible notes were not material for the year ended December 31, 2021.