XML 20 R10.htm IDEA: XBRL DOCUMENT
v3.23.2

FAIR VALUE MEASUREMENTS | 6 Months Ended
--- | ---
Jun. 30, 2023
Fair Value Disclosures [Abstract] |
FAIR VALUE MEASUREMENTS | FAIR VALUE MEASUREMENTS The Company measures certain financial assets and liabilities at fair value in accordance with the policy described in Note 1 – Business Overview and Significant Accounting Policies to the Company’s Consolidated Financial Statements included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2022. The following tables present the classification within the fair value hierarchy of financial assets and liabilities not disclosed elsewhere in these Condensed Consolidated Financial Statements that are remeasured on a recurring basis as of June 30, 2023 and December 31, 2022. Other than the Company’s fixed-rate convertible debt disclosed in Note 6 – Debt, there were no financial assets or liabilities that were remeasured using a quoted price in active markets for identical assets (Level 1) as of June 30, 2023 or December 31, 2022.
| Fair Value Measurements as of June 30, 2023
|  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Assets: |  |  |  |  |  |
Other current assets: |  |  |  |  |  |
NQDC Plan assets |  | $ | 2,417 |  |  | $ | — |  |  | $ | 2,417 |
Other assets: |  |  |  |  |  |
NQDC Plan assets |  | 25,464 |  |  | — |  |  | 25,464 |
Restricted investments (1) |  | 2,383 |  |  | — |  |  | 2,383 |
Total other assets |  | 27,847 |  |  | — |  |  | 27,847 |
Total assets |  | $ | 30,264 |  |  | $ | — |  |  | $ | 30,264 |
Liabilities: |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |
NQDC Plan liability |  | $ | 2,417 |  |  | $ | — |  |  | $ | 2,417 |
Other long-term liabilities: |  |  |  |  |  |
NQDC Plan liability |  | 25,464 |  |  | — |  |  | 25,464 |
Total liabilities |  | $ | 27,881 |  |  | $ | — |  |  | $ | 27,881 |
|  |  | Fair Value Measurements as of December 31, 2022
|  |  | Significant Other Observable Inputs (Level 2) |  | Significant Unobservable Inputs (Level 3) |  | Total
Assets: |  |  |  |  |  |  |
Other current assets: |  |  |  |  |  |  |
NQDC Plan assets |  |  | $ | 2,654 |  |  | $ | — |  |  | $ | 2,654 |
Other assets: |  |  |  |  |  |  |
NQDC Plan assets |  |  | 19,867 |  |  | — |  |  | 19,867 |
Restricted investments (1) |  |  | 2,429 |  |  | — |  |  | 2,429 |
Total other assets |  |  | 22,296 |  |  | — |  |  | 22,296 |
Total assets |  |  | $ | 24,950 |  |  | $ | — |  |  | $ | 24,950 |
Liabilities: |  |  |  |  |  |  |
Current liabilities: |  |  |  |  |  |  |
NQDC Plan liability |  |  | $ | 2,654 |  |  | $ | — |  |  | $ | 2,654 |
Contingent consideration |  |  | — |  |  | 15,925 |  |  | 15,925 |
Total current liabilities |  |  | 2,654 |  |  | 15,925 |  |  | 18,579 |
Other long-term liabilities: |  |  |  |  |  |  |
NQDC Plan liability |  |  | 19,867 |  |  | — |  |  | 19,867 |
Total liabilities |  |  | $ | 22,521 |  |  | $ | 15,925 |  |  | $ | 38,446 |
(1) The restricted investments as of June 30, 2023 and December 31, 2022 secure the Company's irrevocable standby letters of credit obtained in connection with certain commercial agreements. There were no transfers between levels during the three and six months ended June 30, 2023. Liabilities measured at fair value using Level 3 inputs consisted of contingent consideration. The following table represents a roll-forward of contingent consideration.
Contingent consideration as of December 31, 2022 | $ | 15,925 |
Milestone payments to Ares Trading S.A. (Merck Serono) | (16,255) |
Realized foreign exchange loss on settlement of contingent consideration | 330 |
Contingent consideration as of June 30, 2023 | $ | — |

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 The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482106/820-10-50-2 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration