XML 34 R24.htm IDEA: XBRL DOCUMENT
v3.23.1

Fair Value Measurements (Tables) | 3 Months Ended
--- | ---
Mar. 31, 2023
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 financial assets and liabilities measured at March 31, 2023 and December 31, 2022 consisted of the following (in thousands):
|  |  |  |  | Fair Value Measurements at Reporting Date Using |
|  | March 31, 2023 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 287,113 |  |  | $ | 287,113 |  |  | $ | — |  |  | $ | — |
Equity securities |  |  | 12,026 |  |  |  | 12,026 |  |  |  | — |  |  |  | — |
Government sponsored enterprise securities |  |  | 104,648 |  |  |  | — |  |  |  | 104,648 |  |  |  | — |
Municipal bonds |  |  | 7,330 |  |  |  | — |  |  |  | 7,330 |  |  |  | — |
Total |  | $ | 411,117 |  |  | $ | 299,139 |  |  | $ | 111,978 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Cash awards |  | $ | 1,247 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,247 |
Acquisition related contingent payment |  |  | 29,583 |  |  |  |  |  |  |  |  |  | 29,583 |
Total |  | $ | 30,830 |  |  | $ | — |  |  | $ | — |  |  | $ | 30,830 |
|  |  |  |  | Fair Value Measurements at Reporting Date Using |
|  | December 31, 2022 |  |  | Quoted Prices in Active Markets for Identical Assets (Level 1) |  |  | Significant Other Observable Inputs (Level 2) |  |  | Significant Unobservable Inputs (Level 3) |
Assets |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 72,578 |  |  | $ | 72,578 |  |  | $ | — |  |  | $ | — |
U.S. Treasury notes |  |  | 15,945 |  |  |  | 15,945 |  |  |  | — |  |  |  | — |
Equity securities |  |  | 7,180 |  |  |  | 7,180 |  |  |  | — |  |  |  | — |
Government sponsored enterprise securities |  |  | 94,803 |  |  |  | — |  |  |  | 94,803 |  |  |  | — |
Municipal bonds |  |  | 20,775 |  |  |  | — |  |  |  | 20,775 |  |  |  | — |
Commercial paper |  |  | 184,316 |  |  |  | — |  |  |  | 184,316 |  |  |  | — |
Total |  | $ | 395,597 |  |  | $ | 95,703 |  |  | $ | 299,894 |  |  | $ | — |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |
Cash awards |  | $ | 898 |  |  | $ | — |  |  | $ | — |  |  | $ | 898 |
Total |  | $ | 898 |  |  | $ | — |  |  | $ | — |  |  | $ | 898 |
Schedule of Changes in Estimated Fair Value of Contingent Cash Awards | Changes in estimated fair value of contingent cash awards during the three months ended March 31, 2023 are as follows (in thousands):
Balance as of December 31, 2022 |  | $ | 898 |
Vesting of awards |  |  | 169 |
Expense forfeited |  |  | (19 | )
Change in fair value |  |  | 199 |
Balance as of March 31, 2023 |  | $ | 1,247 |

X
- 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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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

X
- Definition Tabular disclosure of the fair value measurement of liabilities using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets), and gains or losses recognized in other comprehensive income (loss) and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs) by class of liability. + 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 (c) -URI https://asc.fasb.org/extlink&oid=126976982&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 3 -URI https://asc.fasb.org/extlink&oid=126976982&loc=d3e19279-110258 + Details
Name: | us-gaap_FairValueLiabilitiesMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration