Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities Measured at Fair Value on Recurring Basis

The following tables present the Company’s financial assets and liabilities that are measured at fair value on a recurring basis (in thousands):

	Fair Value Measurements at June 30, 2022
	Balance		Quoted Prices in Active Markets  (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Marketable investments	$	63,259	$	1,700	$	—	$	61,559
Total assets	$	63,259	$	1,700	$	—	$	61,559
Liabilities:
Derivative liabilities - non-current	$	500	$	—	$	—	$	500
Contingent consideration		397		—		—		397
Contingent consideration - non-current		57,949		—		—		57,949
Total liabilities	$	58,846	$	—	$	—	$	58,846

	Fair Value Measurements at December 31, 2021
	Balance		Quoted Prices in Active Markets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Marketable investments	$	90,217	$	2,560	$	—	$	87,657
Total assets	$	90,217	$	2,560	$	—	$	87,657
Liabilities:
Derivative liabilities - non-current	$	35,700	$	—	$	—	$	35,700
Contingent consideration		397		—		—		397
Contingent consideration - non-current		124,349		—		—		124,349
Total liabilities	$	160,446	$	—	$	—	$	160,446

Liabilities Measured at Fair Value Using Significant Unobservable Inputs (Level 3)

Changes in fair value of the Company’s investment in Celularity since December 31, 2021 are as follows (Level 3):

(in thousands)	Fair Value
Beginning Balance at December 31, 2021	$	87,657
Change in fair value measurement of Restricted Shares		(26,098	)
Ending Balance at June 30, 2022	$	61,559

Changes in estimated fair value of contingent consideration liabilities since December 31, 2021 are as follows (Level 3):

(in thousands)	Fair Value
Beginning Balance at December 31, 2021	$	124,746
Change in fair value measurement		(66,400	)
Ending Balance at June 30, 2022	$	58,346

The following table includes a summary of the derivative liabilities measured at fair value using significant unobservable inputs (Level 3) during the six months ended June 30, 2022:

(in thousands)	Fair Value
Beginning Balance at December 31, 2021	$	35,700
Change in fair value measurement		(35,200	)
Ending Balance at June 30, 2022	$	500