XML 40 R31.htm IDEA: XBRL DOCUMENT
v3.23.3

Investments (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of debt securities available-for-sale | The following table summarizes our cash equivalents and available-for-sale debt investments:
| September 30, 2023
|  |  | Fair Value Level
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses (1) |  | Total Fair Value |  | Level 1 |  | Level 2
| (In thousands)
Cash equivalents |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities | $ | 1,484 |  |  | $ | 2 |  |  | $ | (5) |  |  | $ | 1,481 |  |  | $ | — |  |  | $ | 1,481 |
Commercial paper | 43,206 |  |  | — |  |  | — |  |  | 43,206 |  |  | — |  |  | 43,206 |
Money market funds | 71,764 |  |  | — |  |  | — |  |  | 71,764 |  |  | 71,764 |  |  | — |
U.S. government bonds | 14,662 |  |  | 2 |  |  | — |  |  | 14,664 |  |  | 14,664 |  |  | — |
Total cash equivalents (2) | 131,116 |  |  | 4 |  |  | (5) |  |  | 131,115 |  |  | 86,428 |  |  | 44,687 |
Short-term investments |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities | 59,503 |  |  | 7 |  |  | (151) |  |  | 59,359 |  |  | — |  |  | 59,359 |
Certificate of deposits | 23,351 |  |  | — |  |  | — |  |  | 23,351 |  |  | 23,351 |  |  | — |
Commercial paper | 55,244 |  |  | — |  |  | — |  |  | 55,244 |  |  | — |  |  | 55,244 |
Corporate bonds | 236,644 |  |  | 115 |  |  | (1,117) |  |  | 235,642 |  |  | — |  |  | 235,642 |
Foreign government bonds | 1,301 |  |  | — |  |  | — |  |  | 1,301 |  |  | — |  |  | 1,301 |
U.S. government agency bonds | 13,258 |  |  | — |  |  | (39) |  |  | 13,219 |  |  | — |  |  | 13,219 |
U.S. government bonds | 46,076 |  |  | 1 |  |  | (231) |  |  | 45,846 |  |  | 45,846 |  |  | — |
Total short-term investments | 435,377 |  |  | 123 |  |  | (1,538) |  |  | 433,962 |  |  | 69,197 |  |  | 364,765 |
Total | $ | 566,493 |  |  | $ | 127 |  |  | $ | (1,543) |  |  | $ | 565,077 |  |  | $ | 155,625 |  |  | $ | 409,452 |
| December 31, 2022
|  |  | Fair Value Level
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses (1) |  | Total Fair Value |  | Level 1 |  | Level 2
| (In thousands)
Cash equivalents |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities | $ | 25 |  |  | $ | — |  |  | $ | — |  |  | $ | 25 |  |  | $ | — |  |  | $ | 25 |
Commercial paper | 69,101 |  |  | — |  |  | — |  |  | 69,101 |  |  | — |  |  | 69,101 |
Money market funds | 97,650 |  |  | — |  |  | — |  |  | 97,650 |  |  | 97,650 |  |  | — |
Municipal bonds | 1,001 |  |  | — |  |  | — |  |  | 1,001 |  |  | — |  |  | 1,001 |
U.S. government agency bonds | 16,982 |  |  | 3 |  |  | — |  |  | 16,985 |  |  | — |  |  | 16,985 |
U.S. government bonds | 10,767 |  |  | 1 |  |  | — |  |  | 10,768 |  |  | 10,768 |  |  | — |
Total cash equivalents | 195,526 |  |  | 4 |  |  | — |  |  | 195,530 |  |  | 108,418 |  |  | 87,112 |
Short-term investments |  |  |  |  |  |  |  |  |  |  |
Asset-backed securities | 25,677 |  |  | 7 |  |  | (134) |  |  | 25,550 |  |  | — |  |  | 25,550 |
Certificate of deposits | 17,362 |  |  | — |  |  | — |  |  | 17,362 |  |  | 17,362 |  |  | — |
Commercial paper | 27,866 |  |  | — |  |  | — |  |  | 27,866 |  |  | — |  |  | 27,866 |
Corporate bonds | 198,868 |  |  | 7 |  |  | (1,529) |  |  | 197,346 |  |  | — |  |  | 197,346 |
Foreign government bonds | 996 |  |  | — |  |  | (4) |  |  | 992 |  |  | — |  |  | 992 |
Mortgage-backed securities | 696 |  |  | — |  |  | (2) |  |  | 694 |  |  | — |  |  | 694 |
Municipal bonds | 364 |  |  | — |  |  | (2) |  |  | 362 |  |  | — |  |  | 362 |
U.S. government agency bonds | 735 |  |  | — |  |  | (1) |  |  | 734 |  |  | — |  |  | 734 |
U.S. government bonds | 6,704 |  |  | 1 |  |  | (20) |  |  | 6,685 |  |  | 6,685 |  |  | — |
Total short-term investments | 279,268 |  |  | 15 |  |  | (1,692) |  |  | 277,591 |  |  | 24,047 |  |  | 253,544 |
Total | $ | 474,794 |  |  | $ | 19 |  |  | $ | (1,692) |  |  | $ | 473,121 |  |  | $ | 132,465 |  |  | $ | 340,656 |
(1)All unrealized losses have been in a continuous loss position for less than 12 months. We do not intend to sell the investments in an unrealized loss position, and it is not more likely than not that we will be required to sell these investments before recovery of their amortized cost bases. (2)For nine months ended September 30, 2023 and 2022, we sold cash equivalent investments for proceeds of $41.5 million and $27.1 million, respectively, and realized no gain or loss on such sales. The following table summarizes the contractual maturities of our cash equivalents and available-for-sale debt investments as of September 30, 2023:
|  | Amortized Cost |  | Fair Value |  |  |  |  |  |  |  |
|  | (In thousands) |  |  |  |  |  |  |  |
Within 1 year |  | $ | 399,939 |  |  | $ | 399,341 |  |  |  |  |  |  |  |  |
After 1 year through 5 years |  | 105,567 |  |  | 104,896 |  |  |  |  |  |  |  |  |
Asset-backed securities |  | 60,987 |  |  | 60,840 |  |  |  |  |  |  |  |  |
Total |  | $ | 566,493 |  |  | $ | 565,077 |  |  |  |  |  |  |  |  |

X
- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-9 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 4: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 5: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 6: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aa) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 7: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (aaa) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 8: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-2 Reference 9: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 10: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 11: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 Reference 12: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 3 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147481800/320-10-50-3 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration