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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Schedule of Fair Value by Significant Investment Category

The following table summarizes the Company’s cash and available-for-sale securities’ amortized cost, unrealized gains (losses), and fair value by significant investment category reported as cash and cash equivalents, restricted cash, or available-for-sale securities as of March 31, 2021 and December 31, 2020.

(in thousands)																														Reported as:
March 31, 2021						Amortized Cost						Unrealized Gain						Unrealized (Loss)						Fair Value						Cash & Cash Equivalents						Available-for-sale securities												Restricted Cash
Cash						$	42,723					$	—					$	—					$	42,723					$	40,064					$	—											$	2,659
Level I:
Money market funds						154,072						—						—						154,072						147,412						—												6,660
Level II:
Corporate bonds						151,162						17						(75)						151,104						—						151,104												—
U.S. treasury securities						501,018						174						(12)						501,180						—						501,180												—
U.S. government agency securities						15,565						6						—						15,571						—						15,571												—
Commercial paper						179,893						—						—						179,893						—						179,893												—
Subtotal						847,638						197						(87)						847,748						—						847,748												—
Total assets measured at fair value on a recurring basis						$	1,044,433					$	197					$	(87)					$	1,044,543					$	187,476					$	847,748											$	9,319

(in thousands)																														Reported as:
December 31, 2020						Amortized Cost						Unrealized Gain						Unrealized (Loss)						Fair Value						Cash & Cash Equivalents						Available-for-sale securities												Restricted Cash
Cash						$	22,114					$	—					$	—					$	22,114					$	19,523					$	—											$	2,591
Level I:
Money market funds						71,038						—						—						71,038						64,378						—												6,660
Level II:
Corporate bonds						169,324						43						(26)						169,341						—						169,341												—
U.S. treasury securities						576,652						223						(4)						576,871						—						576,871												—
U.S. government agency securities						15,617						4						(1)						15,620						—						15,620												—
Commercial paper						186,363						—						—						186,363						24,994						161,369												—
Subtotal						947,956						270						(31)						948,195						24,994						923,201												—
Total assets measured at fair value on a recurring basis						$	1,041,108					$	270					$	(31)					$	1,041,347					$	108,895					$	923,201											$	9,251

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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