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Cash, Concentration of Credit Risk and Fair Value of Financial Instruments (Tables) | 6 Months Ended
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Jun. 30, 2022
Fair Value Disclosures [Abstract] |
Schedule of cash and cash equivalents | The following table provides a reconciliation of total cash, cash equivalents and restricted cash as of June 30, 2022, December 31, 2021 and June 30, 2021 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands):
| June 30, |  | December 31, |  | June 30, |  |
| 2022 |  | 2021 |  | 2021 |  |
Cash and cash equivalents | $ | 833,533 |  |  | $ | 706,282 |  |  | $ | 410,144 |  |  |
Restricted cash included within prepaid and other current assets | 10,578 |  |  | 5,861 |  |  | 741 |  |  |
Restricted cash included within other non-current assets | 1,081 |  |  | 1,081 |  |  | 1,081 |  |  |
Total cash, cash equivalents and restricted cash | $ | 845,192 |  |  | $ | 713,224 |  |  | $ | 411,966 |  |  |
Schedule of restricted cash and cash equivalents | The following table provides a reconciliation of total cash, cash equivalents and restricted cash as of June 30, 2022, December 31, 2021 and June 30, 2021 to the captions within the condensed consolidated balance sheets and condensed consolidated statements of cash flows (in thousands):
| June 30, |  | December 31, |  | June 30, |  |
| 2022 |  | 2021 |  | 2021 |  |
Cash and cash equivalents | $ | 833,533 |  |  | $ | 706,282 |  |  | $ | 410,144 |  |  |
Restricted cash included within prepaid and other current assets | 10,578 |  |  | 5,861 |  |  | 741 |  |  |
Restricted cash included within other non-current assets | 1,081 |  |  | 1,081 |  |  | 1,081 |  |  |
Total cash, cash equivalents and restricted cash | $ | 845,192 |  |  | $ | 713,224 |  |  | $ | 411,966 |  |  |
Schedule of fair value on a recurring basis | Our financial assets and liabilities that are accounted for at fair value on a recurring basis are presented in the tables below as of June 30, 2022 and December 31, 2021 (in thousands):
| Fair Value as of June 30, 2022
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Money market and demand accounts (a) | $ | 845,192 |  |  | $ | — |  |  | $ | — |  |  | $ | 845,192 |
Commercial paper (b) | — |  |  | 9,993 |  |  | — |  |  | 9,993 |
U.S. government securities | — |  |  | 43,188 |  |  | — |  |  | 43,188 |
Corporate bonds, asset backed and other securities | — |  |  | 13,895 |  |  | — |  |  | 13,895 |
Total | $ | 845,192 |  |  | $ | 67,076 |  |  | $ | — |  |  | $ | 912,268 |
| Fair Value as of December 31, 2021
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |
Money market and demand accounts (a) | $ | 705,725 |  |  | $ | — |  |  | $ | — |  |  | $ | 705,725 |
Commercial paper(b) | — |  |  | 158,452 |  |  | — |  |  | 158,452 |
U.S. government securities | — |  |  | 51,301 |  |  | — |  |  | 51,301 |
Corporate bonds, asset backed and other securities | — |  |  | 33,091 |  |  | — |  |  | 33,091 |
Total | $ | 705,725 |  |  | $ | 242,844 |  |  | $ | — |  |  | $ | 948,569 |
______________________________ (a)Primarily included within cash and cash equivalents. (b)As of June 30, 2022 and December 31, 2021, $0.0 million and $7.5 million, respectively, of commercial paper was included within cash and cash equivalents.
Schedule of aggregate fair value | The aggregate fair value of the principal amount of the Convertible Notes is a Level 2 fair value measurement.
| June 30, 2022 |  | December 31, 2021
| Principal Amount |  | Carrying Value |  | Fair Value |  | Principal Amount |  | Carrying Value |  | Fair Value
2027 Senior Convertible Long-Term Debt | $ | 460,000 |  |  | $ | 450,183 |  |  | $ | 467,452 |  |  | $ | — |  |  | $ | — |  |  | $ | — |
2024 Senior Convertible Long-Term Debt | $ | 126,174 |  |  | $ | 125,065 |  |  | $ | 123,259 |  |  | $ | 400,000 |  |  | $ | 395,632 |  |  | $ | 437,760 |
The aggregate fair value of the Technicolor Patent Acquisition long-term debt is a Level 3 fair value measurement.
| June 30, 2022 |  | December 31, 2021
| Carrying Value |  | Fair Value |  | Carrying Value |  | Fair Value
Technicolor Patent Acquisition Long-Term Debt | $ | 28,997 |  |  | $ | 28,103 |  |  | $ | 27,113 |  |  | $ | 28,569 |

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- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI https://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 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
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- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/disclosureRef -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://www.xbrl.org/2003/role/disclosureRef -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
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