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Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2021

Fair Value Disclosures [Abstract]

Fair Value Measurements of Cash Equivalents, Available-For-Sale Investment Securities and Equity Securities

The recurring fair value measurements of the Company’s cash equivalents, available-for-sale investment securities and equity securities at September 30, 2021 and December 31, 2020 consisted of the following (in thousands):

						Fair Value Measurements at Reporting Date Using
		September 30, 2021				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Money market fund		$	76,248			$	76,248			$	—			$	—
U.S. Treasury notes			179,878				179,878				—				—
Equity securities			2,015				2,015				—				—
Government sponsored enterprise securities			56,012				—				56,012				—
Municipal bonds			19,122				—				19,122				—
Commercial paper			200,638				—				200,638				—
		$	533,913			$	258,141			$	275,772			$	—

						Fair Value Measurements at Reporting Date Using
		December 31, 2020				Quoted Prices in Active Markets for Identical Assets (Level 1)				Significant Other Observable Inputs (Level 2)				Significant Unobservable Inputs (Level 3)
Money market fund		$	300,339			$	300,339			$	—			$	—
U.S. Treasury notes			230,088				230,088				—				—
Equity securities			1,309				1,309				—				—
Government sponsored enterprise securities			9,999				—				9,999				—
Corporate debt securities			52,388				—				52,388				—
Commercial paper			38,453				—				38,453				—
		$	632,576			$	531,736			$	100,840			$	—

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- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class 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://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (b)
-URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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 http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258

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X

- References

No definition available.

+ Details

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