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FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Schedule of fair value measurements along with the level within the fair value hierarchy in which the fair value measurements fall

The following table presents the Company’s fair value measurements as of September 30, 2021 along with the level within the fair value hierarchy in which the fair value measurements, in their entirety, fall.

(In thousands)						Fair Value at September 30, 2021						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Cash, cash equivalents, and restricted cash
Cash and money market						$	273,779					$	273,779					$	—					$	—
Restricted cash						297						297						—						—
Marketable securities
Corporate bonds						368,832						—						368,832						—
Certificates of deposit						175,542						—						175,542						—
Commercial paper						10,001						—						10,001						—
U.S. government agency securities						276,081						—						276,081						—
Asset backed securities						111,164						—						111,164						—
Equity securities (1)						3,068						—						3,068						—
Non-marketable securities						2,540						—						—						2,540
Liabilities
Contingent consideration						(363,647)						—						—						(363,647)
Total						$	857,657					$	274,076					$	944,688					$	(361,107)

______________

(1)The equity securities held are classified as Level 2 as they are subject to a short-term lock-up restriction and have been discounted from the observable market prices of the similar unrestricted equity securities.

The following table presents the Company’s fair value measurements as of December 31, 2020 along with the level within the fair value hierarchy in which the fair value measurements, in their entirety, fall.

(In thousands)						Fair Value at December 31, 2020						Quoted Prices in Active Markets for Identical Assets (Level 1)						Significant Other Observable Inputs (Level 2)						Significant Unobservable Inputs (Level 3)
Cash and cash equivalents
Cash and money market						$	901,294					$	901,294					$	—					$	—
U.S. government agency securities						589,994						—						589,994						—
Restricted cash						306						306						—						—
Marketable securities
U.S. government agency securities						207,171						—						207,171						—
Corporate bonds						132,913						—						132,913						—
Asset backed securities						7,094						—						7,094						—
Equity securities						1,521						1,521						—						—
Liabilities
Contingent consideration						(2,477)						—						—						(2,477)
Total						$	1,837,816					$	903,121					$	937,172					$	(2,477)

Schedule of fair value of contingent consideration

The following table provides a reconciliation of the beginning and ending balances of contingent consideration:

(In thousands)						Contingent Consideration
Beginning balance, January 1, 2021						$	2,477
Purchase price contingent consideration (1)						350,348
Changes in fair value						10,986
Payments						(164)
Ending balance, September 30, 2021						$	363,647

______________

(1)The increase in the contingent consideration liability is due to the contingent consideration associated with the acquisitions of Ashion Analytics, LLC (“Ashion”) and Thrive Earlier Detection Corporation (“Thrive”). Refer to Note 17 for further information.

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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 http://asc.fasb.org/extlink&oid=123874694&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 http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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- References

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- Definition

Tabular disclosure of contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

+ References

No definition available.

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