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Fair Value Measurements (Tables)

6 Months Ended

Jun. 30, 2022

Fair Value Disclosures [Abstract]

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

The following tables present information about the Company’s financial assets and liabilities that have been measured at fair value on a recurring basis as of June 30, 2022 and December 31, 2021, and indicate the fair value hierarchy of the valuation inputs utilized to determine such fair value (in thousands):

			Fair Value Measurement as of June 30, 2022
			Level 1						Level 2						Level 3						Total
Financial Assets:
Cash equivalents:
Money market funds			$	182,572					$	—					$	—					$	182,572
Commercial paper			—						25,314						—						25,314
Corporate debt securities			—						790						—						790
Marketable Securities:
Corporate debt securities			—						985,985						—						985,985
Certificates of deposit			—						72,679						—						72,679
U.S. government treasury securities			—						178,179						—						178,179
Commercial paper			—						219,879						—						219,879
Non-U.S. government treasury securities			—						7,959						—						7,959
Total financial assets			$	182,572					$	1,490,785					$	—					$	1,673,357

			Fair Value Measurement as of December 31, 2021
			Level 1						Level 2						Level 3						Total
Financial Assets:
Cash equivalents:
Money market funds			$	241,571					$	—					$	—					$	241,571
Marketable Securities:
Corporate debt securities			—						1,032,052						—						1,032,052
Certificates of deposit			—						14,569						—						14,569
U.S. government treasury securities			—						77,442						—						77,442
Commercial paper			—						151,356						—						151,356
Non-U.S. government treasury securities			—						8,054						—						8,054
Total financial assets			$	241,571					$	1,283,473					$	—					$	1,525,044

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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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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