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Concentration of Credit Risk and Fair Value of Financial Assets and Financial Liabilities (Tables)

12 Months Ended

Dec. 31, 2023

Fair Value Disclosures [Abstract]

Schedule of Financial Assets and Liabilities at Fair Value on 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 December 31, 2023 and December 31, 2022 (in thousands):

			Fair Value as of December 31, 2023
			Level 1						Level 2						Level 3						Total
Assets:
Money market and demand accounts (a)			$	430,707					$	—					$	—					$	430,707
Commercial paper (b)			—						174,991						—						174,991
U.S. government securities (c)			—						256,850						—						256,850
Corporate bonds, asset backed and other securities (d)			—						149,693						—						149,693
			$	430,707					$	581,534					$	—					$	1,012,241

			Fair Value as of December 31, 2022
			Level 1						Level 2						Level 3						Total
Assets:
Money market and demand accounts (a)			$	643,825					$	—					$	—					$	643,825
Commercial paper (b)			—						209,956						—						209,956
U.S. government securities			—						243,840						—						243,840
Corporate bonds and asset backed securities			—						113,838						—						113,838
			$	643,825					$	567,634					$	—					$	1,211,459

_______________

(a)Included within cash and cash equivalents.

(b)As of December 31, 2023 and 2022, $5.7 million and $26.7 million of commercial paper was included within cash and cash equivalents, respectively.

(c)As of December 31, 2023 and 2022, $0.0 million and $15.7 million of U.S. government securities was included within cash and cash equivalents, respectively.

(d)As of December 31, 2023and 2022, $6.5 million and $16.9 million of corporate bonds, asset backed and other securities was included within cash and cash equivalents, respectively.

Schedule of Aggregate Fair Value

The principal amount, carrying value and related estimated fair value of the Company's senior convertible debt reported in the consolidated balance sheets as of December 31, 2023 and December 31, 2022 was as follows (in thousands). The aggregate fair value of the principal amount of the senior convertible debt is a Level 2 fair value measurement.

			December 31, 2023																		December 31, 2022
			Principal Amount						Carrying Value						Fair Value						Principal Amount						Carrying Value						Fair Value
2027 Senior Convertible Notes			$	460,000					$	452,830					$	677,230					$	460,000					$	451,062					$	441,485
2024 Senior Convertible Notes			$	126,174					$	125,922					$	171,130					$	126,174					$	125,342					$	119,941

The aggregate fair value of the Technicolor Patent Acquisition long-term debt is a Level 3 fair value measurement.

			December 31, 2023												December 31, 2022
			Carrying Value						Fair Value						Carrying Value						Fair Value
Technicolor Patent Acquisition Long-Term Debt			$	29,019					$	28,859					$	30,662					$	28,048

X

- 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
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 825
-SubTopic 10
-Section 50
-Paragraph 11
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482907/825-10-50-11

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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
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

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