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Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2024
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 June 30, 2024 and December 31, 2023.
(in thousands)    Reported as:
June 30, 2024Amortized
Cost
Unrealized
Gain
Unrealized
(Loss)
Fair ValueCash &
Cash
Equivalents
Available-for-sale securitiesRestricted
Cash (Current and Non-Current)
Cash$60,979 $— $— $60,979 $57,956 $— $3,023 
Level I:
Money market funds
99,011 — — 99,011 99,011 — — 
Level II:
Corporate bonds
408,749 40 (690)408,099 — 408,099 — 
U.S. treasury securities
1,036,063 162 (1,178)1,035,047 — 1,035,047 — 
U.S. government agency securities
59,151 — (73)59,078 — 59,078 — 
Commercial paper
98,205 — 98,206 — 98,206 — 
Subtotal
1,602,168 203 (1,941)1,600,430 — 1,600,430 — 
Total assets measured at fair value on a recurring basis
$1,762,158 $203 $(1,941)$1,760,420 $156,967 $1,600,430 $3,023 
(in thousands)Reported as:
December 31, 2023Amortized
Cost
Unrealized
Gain
Unrealized
(Loss)
Fair
Value
Cash &
Cash
Equivalents
Available-for-sale securitiesRestricted
Cash (Current and Non-Current)
Cash
Cash$51,189 $— $— $51,189 $46,829 $— $4,360 
Level I:
Money market funds
40,035 — — 40,035 40,035 — — 
Level II:
Corporate bonds
312,510 718 (378)312,850 — 312,850 — 
U.S. treasury securities
1,020,167 2,344 (544)1,021,967 — 1,021,967 — 
U.S. government agency securities
84,154 14 (96)84,072 — 84,072 — 
Commercial paper
167,989 — 167,991 — 167,991 — 
Subtotal
1,584,820 3,078 (1,018)1,586,880 — 1,586,880 — 
Total assets measured at fair value on a recurring basis
$1,676,044 $3,078 $(1,018)$1,678,104 $86,864 $1,586,880 $4,360