XML 22 R10.htm IDEA: XBRL DOCUMENT
v3.24.2.u1

Cash, Cash Equivalents and Investments | 6 Months Ended
--- | ---
Jun. 30, 2024
Cash, Cash Equivalents and Investments |
Cash, Cash Equivalents and Investments | Note 3 - Cash, Cash Equivalents and Investments The following tables summarize our cash, cash equivalents, marketable securities and available-for-sale investments at June 30, 2024 and December 31, 2023 (in thousands):
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of June 30, 2024
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​ |  |  | Cash and |  | ​ | ​ |  | ​ | ​ |
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​ |  | ​ | Cash | ​ | Marketable | ​ | Short-Term | ​
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Fair Value |  | ​ | Equivalents | ​ | Securities | ​ | Investments | ​
Cash | ​ | $ | 78,251 | ​ | $ | — | ​ | $ | — | ​ | $ | 78,251 | ​ | ​ | $ | 78,251 | ​ | $ | — | ​ | $ | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Level 1: | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ |  |  | ​ | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Money market funds | ​ |  | 254,304 | ​ | ​ | — | ​ | ​ | — | ​ |  | 254,304 | ​ | ​ |  | 254,304 | ​ | ​ | — | ​ | ​ | — | ​
Agency bonds | ​ |  | 100,011 | ​ | ​ | — | ​ | ​ | (44) | ​ |  | 99,967 | ​ | ​ |  | 99,967 | ​ | ​ | — | ​ | ​ | — | ​
Treasury bills | ​ | ​ | 116,330 | ​ | ​ | 2 | ​ | ​ | (27) | ​ | ​ | 116,305 | ​ | ​ | ​ | 66,511 | ​ | ​ | — | ​ | ​ | 49,794 | ​
U.S. Government | ​ | ​ | 200,567 | ​ | ​ | — | ​ | ​ | (342) | ​ | ​ | 200,225 | ​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 200,225 | ​
Marketable securities | ​ | ​ | 90,000 | ​ | ​ | 17,550 | ​ | ​ | — | ​ | ​ | 107,550 | ​ | ​ |  | — | ​ | ​ | 107,550 | ​ | ​ | — | ​
Subtotal | ​ |  | 761,212 | ​ | ​ | 17,552 | ​ |  | (413) | ​ |  | 778,351 | ​ | ​ | ​ | 420,782 | ​ | ​ | 107,550 | ​ | ​ | 250,019 | ​
Level 2: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Term deposits | ​ | ​ | 218,870 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 218,870 | ​ | ​ | ​ | 67,419 | ​ | ​ | — | ​ | ​ | 151,451 | ​
Corporate bonds | ​ | ​ | 1,000 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,000 | ​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 1,000 | ​
Subtotal | ​ | ​ | 219,870 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 219,870 | ​ | ​ | ​ | 67,419 | ​ | ​ | — | ​ | ​ | 152,451 | ​
Total | ​ | $ | 1,059,333 | ​ | $ | 17,552 | ​ | $ | (413) | ​ | $ | 1,076,472 | ​ | ​ | $ | 566,452 | ​ | $ | 107,550 | ​ | $ | 402,470 | ​
​ As of June 30, 2024, we had $345.5 million of available-for-sale investments with unrealized losses. Of the $345.5 million of available-for-sale investments with unrealized losses, $14.9 million has been in a continuous unrealized loss position for 12 months or longer, with total gross unrealized losses of less than $0.1 million. We do not intend to sell the investments and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost bases. ​ Acquired common stock is recorded as marketable securities in the condensed consolidated balance sheets and its fair value is adjusted every reporting period. Changes in fair value are recorded in the condensed consolidated statement of operations as unrealized gain (or loss) on marketable securities, which is included in other income (loss), net. During the three and six months ended June 30, 2024, we recorded an unrealized gain on marketable securities of $7.8 million and $29.6 million, respectively. We recorded an unrealized gain on marketable securities of $10.0 million and $25.6 million, respectively, for the same periods in the prior year. ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of December 31, 2023
​ |  | ​ | ​ |  | Gross |  | Gross |  | ​ | ​ |  |  | Cash and |  | ​ | ​ |  | ​ | ​ |
​ | ​ | Amortized | ​ | Unrealized | ​ | Unrealized | ​ | ​ | ​ |  | ​ | Cash | ​ | Marketable | ​ | Short-Term | ​
​ | ​ | Cost | ​ | Gains | ​ | Losses | ​ | Fair Value |  | ​ | Equivalents | ​ | Securities | ​ | Investments | ​
Cash | ​ | $ | 406,743 | ​ | $ | — | ​ | $ | — | ​ | $ | 406,743 | ​ | ​ | $ | 406,743 | ​ | $ | — | ​ | $ | — | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Level 1: | ​ |  |  | ​ | ​ | ​ | ​ |  |  | ​ |  |  | ​ | ​ |  |  | ​ |  |  | ​ |  |  | ​
Money market funds | ​ |  | 1,470 | ​ | ​ | — | ​ |  | — | ​ |  | 1,470 | ​ | ​ |  | 1,470 | ​ |  | — | ​ |  | — | ​
Agency bonds | ​ |  | 222,057 | ​ | ​ | 2 | ​ |  | (174) | ​ |  | 221,885 | ​ | ​ |  | 101,635 | ​ |  | — | ​ |  | 120,250 | ​
U.S. Government | ​ | ​ | 238,747 | ​ | ​ | 120 | ​ | ​ | (237) | ​ | ​ | 238,630 | ​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 238,630 | ​
Treasury bills | ​ | ​ | 148,063 | ​ | ​ | 28 | ​ | ​ | — | ​ | ​ | 148,091 | ​ | ​ | ​ | 88,697 | ​ | ​ | — | ​ | ​ | 59,394 | ​
Marketable securities | ​ | ​ | 90,000 | ​ | ​ | — | ​ | ​ | (12,060) | ​ | ​ | 77,940 | ​ | ​ |  | — | ​ |  | 77,940 | ​ |  | — | ​
Subtotal | ​ |  | 700,337 | ​ | ​ | 150 | ​ |  | (12,471) | ​ |  | 688,016 | ​ | ​ | ​ | 191,802 | ​ | ​ | 77,940 | ​ | ​ | 418,274 | ​
Level 2: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Term deposits | ​ | ​ | 128,205 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 128,205 | ​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 128,205 | ​
Corporate bonds | ​ | ​ | 80,646 | ​ | ​ | 8 | ​ | ​ | (165) | ​ | ​ | 80,489 | ​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 80,489 | ​
Treasury Inflation-Protected Securities | ​ | ​ | 2,635 | ​ | ​ | — | ​ | ​ | (5) | ​ | ​ | 2,630 | ​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 2,630 | ​
Commercial paper | ​ | ​ | 14,456 | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 14,456 | ​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 14,456 | ​
Subtotal | ​ | ​ | 225,942 | ​ | ​ | 8 | ​ | ​ | (170) | ​ | ​ | 225,780 | ​ | ​ | ​ | — | ​ | ​ | — | ​ | ​ | 225,780 | ​
Total | ​ | $ | 1,333,022 | ​ | $ | 158 | ​ | $ | (12,641) | ​ | $ | 1,320,539 | ​ | ​ | $ | 598,545 | ​ | $ | 77,940 | ​ | $ | 644,054 | ​
​ ​ ​ ​ As of December 31, 2023, we had $420.4 million of available-for-sale investments with unrealized losses. Of this amount, $138.8 million has been in a continuous unrealized loss position for 12 months or longer, with total gross unrealized losses of $0.3 million. We do not intend to sell the investments and it is not more likely than not that we will be required to sell the investments before recovery of their amortized cost bases.

X
- References No definition available. + Details
Name: | us-gaap_CashAndCashEquivalentsAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent + Details
Name: | us-gaap_CashCashEquivalentsAndMarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration