XML 49 R12.htm IDEA: XBRL DOCUMENT
v3.22.0.1

Marketable Securities | 12 Months Ended
--- | ---
Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities | 3. Marketable Securities A summary of the Company’s cash equivalents and marketable securities as of December 31, 2021 and 2020, which are recorded at fair value (and excludes $405.6 million and $395.1 million of cash at December 31, 2021 and 2020, respectively) is shown below (in thousands):
December 31, 2021 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 507,386 |  |  | $ | — |  |  | $ | — |  |  | $ | 507,386 |
Corporate debt securities |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Certificates of deposit |  |  | — |  |  |  | — |  |  |  | — |  |  |  | — |
Commercial paper |  |  | 9,997 |  |  |  | — |  |  |  | (1 | ) |  |  | 9,996 |
Total cash equivalents |  |  | 517,383 |  |  |  | — |  |  |  | (1 | ) |  |  | 517,382 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  |  | 16,238 |  |  |  | 6 |  |  |  | (52 | ) |  |  | 16,192 |
Corporate debt securities |  |  | 1,173,659 |  |  |  | 10 |  |  |  | (4,903 | ) |  |  | 1,168,766 |
Certificates of deposit |  |  | 45,164 |  |  |  | — |  |  |  | — |  |  |  | 45,164 |
Government-sponsored enterprise securities |  |  | 13,334 |  |  |  | — |  |  |  | (77 | ) |  |  | 13,257 |
Commercial paper |  |  | 212,805 |  |  |  | — |  |  |  | (86 | ) |  |  | 212,719 |
Total marketable securities |  |  | 1,461,200 |  |  |  | 16 |  |  |  | (5,118 | ) |  |  | 1,456,098 |
Total cash equivalents and marketable securities |  | $ | 1,978,583 |  |  | $ | 16 |  |  | $ | (5,119 | ) |  | $ | 1,973,480 |
December 31, 2020 |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 742,958 |  |  | $ | — |  |  | $ | — |  |  | $ | 742,958 |
Corporate debt securities |  |  | 2,526 |  |  |  | 1 |  |  |  | (24 | ) |  |  | 2,503 |
Certificates of deposit |  |  | 12,527 |  |  |  | — |  |  |  | — |  |  |  | 12,527 |
Commercial paper |  |  | 15,549 |  |  |  | — |  |  |  | — |  |  |  | 15,549 |
Total cash equivalents |  |  | 773,560 |  |  |  | 1 |  |  |  | (24 | ) |  |  | 773,537 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  |  | 47,976 |  |  |  | 3 |  |  |  | — |  |  |  | 47,979 |
Corporate debt securities |  |  | 324,569 |  |  |  | 43 |  |  |  | (156 | ) |  |  | 324,456 |
Certificates of deposit |  |  | 25,162 |  |  |  | — |  |  |  | — |  |  |  | 25,162 |
Government-sponsored enterprise securities |  |  | 33,738 |  |  |  | 5 |  |  |  | (2 | ) |  |  | 33,741 |
Commercial paper |  |  | 90,375 |  |  |  | — |  |  |  | — |  |  |  | 90,375 |
Total marketable securities |  |  | 521,820 |  |  |  | 51 |  |  |  | (158 | ) |  |  | 521,713 |
Total cash equivalents and marketable securities |  | $ | 1,295,380 |  |  | $ | 52 |  |  | $ | (182 | ) |  | $ | 1,295,250 |
As of December 31, 2021 and 2020, the aggregate fair value of marketable securities that were in an unrealized loss position for less than twelve months was $1,311.6 million and $280.3 million, respectively. As of December 31, 2021, the aggregate fair value of marketable securities that were in an unrealized loss position for more than twelve months was $4.6 million. As of December 31, 2020, no marketable securities were in an unrealized loss position for more than twelve months. The Company has recorded a net unrealized loss of $5.0 million and $0.1 million, respectively, during the years ended December 31, 2021 and 2020 related to its marketable securities, which is included in comprehensive income (loss) on the consolidated statements of operations and comprehensive income (loss). No net unrealized loss was recorded related to its marketable securities for the year ended December 31, 2019. The Company determined that there was no material credit risk of the above investments as of December 31, 2021. The Company has the intent and ability to hold such securities until recovery. As a result, the Company did not record any charges for credit-related impairments for its marketable securities for the years ended December 31, 2021 and 2020.

X
- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_CashCashEquivalentsAndMarketableSecuritiesTextBlock
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