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Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

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 short-term, restricted cash, or available-for-sale securities as of March 31, 2022 and December 31, 2021.

(in thousands)																														Reported as:
March 31, 2022						Amortized Cost						Unrealized Gain						Unrealized (Loss)						Fair Value						Cash & Cash Equivalents						Available-for-sale securities												Restricted Cash (Current and Non-Current)
Cash						$	102,372					$	—					$	—					$	102,372					$	99,885					$	—											$	2,487
Level I:
Money market funds						36,767						—						—						36,767						30,798						—												5,969
Level II:
Corporate bonds						214,056						2						(1,661)						212,397						—						212,397												—
U.S. treasury securities						1,041,647						—						(11,009)						1,030,638						—						1,030,638												—
Commercial paper						351,522						—						—						351,522						21,293						330,229												—
Subtotal						1,607,225						2						(12,670)						1,594,557						21,293						1,573,264												—
Total assets measured at fair value on a recurring basis						$	1,746,364					$	2					$	(12,670)					$	1,733,696					$	151,976					$	1,573,264											$	8,456

(in thousands)																														Reported as:
December 31, 2021						Amortized Cost						Unrealized Gain						Unrealized (Loss)						Fair Value						Cash & Cash Equivalents						Available-for-sale securities												Restricted Cash
Cash						$	64,542					$	—					$	—					$	64,542					$	64,021					$	—											$	521
Level I:
Money market funds						253,075						—						—						253,075						246,415						—												6,660
Level II:
Corporate bonds						202,774						16						(289)						202,501						3,341						199,160												—
U.S. treasury securities						960,278						2						(2,298)						957,982						—						957,982												—
Commercial paper						350,924						—						—						350,924						—						350,924												—
Subtotal						1,513,976						18						(2,587)						1,511,407						3,341						1,508,066												—
Total assets measured at fair value on a recurring basis						$	1,831,593					$	18					$	(2,587)					$	1,829,024					$	313,777					$	1,508,066											$	7,181

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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=123874694&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=123874694&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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