XML 50 R30.htm IDEA: XBRL DOCUMENT v3.23.1

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Fair Value Disclosures [Abstract]

Summary of Financial Assets Measured at Fair Value on Recurring Basis

The following tables set forth our financial assets that are measured at fair value on a recurring basis, excluding publicly traded equity securities, as of March 31, 2023 and December 31, 2022:

			March 31, 2023
			Cost or Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Total Estimated Fair Value
			(in thousands)
Cash			$	1,447,925					$	—					$	—					$	1,447,925
Level 1 securities:
U.S. government securities			1,688,325						3,860						(5,149)						1,687,036
U.S. government agency securities			266,944						299						(104)						267,139
Level 2 securities:
Corporate debt securities			246,814						309						(789)						246,334
Commercial paper			203,080						—						(6)						203,074
Certificates of deposit			150,446						—						—						150,446
Total			$	4,003,534					$	4,468					$	(6,048)					$	4,001,954

			December 31, 2022
			Cost or Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Total Estimated Fair Value
			(in thousands)
Cash			$	1,325,946					$	—					$	—					$	1,325,946
Level 1 securities:
U.S. government securities			1,630,224						109						(9,484)						1,620,849
U.S. government agency securities			175,269						19						(188)						175,100
Level 2 securities:
Corporate debt securities			309,942						32						(1,462)						308,512
Commercial paper			290,589						—						—						290,589
Certificates of deposit			157,965						—						(1)						157,964
Total			$	3,889,935					$	160					$	(11,135)					$	3,878,960

Gain (Loss) on Securities

Gains and losses recognized during the periods presented were as follows:

			Three Months Ended March 31,
			2023						2022
			(in thousands)
Unrealized gains (losses) on investments in privately held companies still held at the reporting date, net			$	1,079					$	13,255

Gains and losses recognized during the periods presented, which are included within other income (expense), net on our consolidated statements of operations, were as follows:

			Three Months Ended March 31,
			2023						2022
			(in thousands)
Gains (losses) recognized on publicly traded equity securities sold during the period, net			$	137					$	—
Unrealized gains (losses) on publicly traded equity securities still held at the reporting date, net			10,594						(92,140)
Gains (losses) on publicly traded equity securities, net			$	10,731					$	(92,140)

X

- 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

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of realized and unrealized gain (loss) on investment in security.

+ References

No definition available.

+ Details

Name:	us-gaap_GainLossOnInvestmentsTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration