Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Schedule of the Company's financial assets and financial liabilities measured at fair value on a recurring basis

The following tables present information about the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2021 and December 31, 2020, and indicate the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands).


	At December 31, 2021
					Significant
			Quoted prices in		other		Significant
			active markets for		observable		unobservable
	December 31,		identical assets		inputs		inputs
	2021		(Level 1)		(Level 2)		(Level 3)
Assets
Cash equivalents:
Money market funds ⁽ⁱ⁾	$	4,212	$	4,212	$	—	$	—
Available for sale securities:
U.S. government agency bonds ⁽ⁱⁱ⁾		123,271		—		123,271		—
U.S. government bonds ⁽ⁱⁱ⁾		76,525		—		76,525		—
Bank certificates of deposit ⁽ⁱⁱ⁾		12,492		—		12,492		—
Commercial paper ⁽ⁱⁱ⁾		2,997		—		2,997		—
Corporate notes ⁽ⁱⁱ⁾		55,032		—		55,032		—
Asset-backed securities ⁽ⁱⁱ⁾		23,774		—		23,774		—
Municipal bonds ⁽ⁱⁱ⁾		19,252		—		19,252		—
Investments held for deferred compensation plans		7,412		—		7,412		—
Total Assets	$	324,967	$	4,212	$	320,755	$	—
Liabilities
Deferred compensation plans	$	7,302		—		7,302		—
Total Liabilities	$	7,302	$	—	$	7,302	$	—

(i)	Included in cash and cash equivalents with a maturity of three months or less from date of purchase on the consolidated balance sheets.

(ii)	Included in short-term investments on the consolidated balance sheets.


		At December 31, 2020
					Significant
			Quoted prices in		other		Significant
			active markets for		observable		unobservable
	December 31,		identical assets		inputs		inputs
	2020		(Level 1)		(Level 2)		(Level 3)
Assets
Cash equivalents:
Money market funds ⁽ⁱ⁾	$	5,169	$	5,169	$	—	$	—
Available for sale securities:
U.S. government agency bonds ⁽ⁱⁱ⁾		206,924		—		206,924		—
Bank certificates of deposit ^(ii)(iii)		25,708		—		25,708		—
Commercial paper ⁽ⁱⁱ⁾		1,500		—		1,500		—
Corporate notes ⁽ⁱⁱ⁾		55,173		—		55,173		—
Asset-backed securities ⁽ⁱⁱ⁾		13,495		—		13,495		—
Municipal bonds ⁽ⁱⁱ⁾		9,972				9,972
Investments held for deferred compensation plans		5,331		—		5,331		—
Total Assets	$	323,273	$	5,169	$	318,104	$	—
Liabilities
Deferred compensation plans		5,232		—		5,232		—
Total Liabilities	$	5,232	$	—	$	5,232	$	—

(i)	Included in cash and cash equivalents with a maturity of three months or less from date of purchase on the consolidated balance sheets.

(ii)	Included in short-term investments on the consolidated balance sheets.

(iii)

One bank certificate of deposit totaling $5,000 (in thousands) is included in cash and cash equivalents on the consolidated balance sheets, as the investment has a maturity of three months or less from the date of purchase on the consolidated balance sheets.

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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