XML 34 R24.htm IDEA: XBRL DOCUMENT v3.21.1

Assets and Liabilities Measured at Fair Value (Tables)

3 Months Ended

Mar. 31, 2021

Fair Value Disclosures [Abstract]

Summary of assets and liabilities subject to fair value measurements

A summary of the fair value of the Company's recurring assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of March 31, 2021 are identified in the following tables:

(in thousands)						Level 2						Total
Assets:
Commercial paper						$	151,307					$	151,307
Asset-backed securities						13,716						13,716
Corporate debt securities						20,932						20,932
U.S. government agency bonds						46,240						46,240
Money market funds						4,296						4,296
						$	236,491					$	236,491

(in thousands)						Level 2						Level 3						Total
Liabilities:
Contingent consideration payable						$	—					$	26,296					$	26,296
Deferred compensation plan liability						3,946						—						3,946
						$	3,946					$	26,296					$	30,242

A summary of the fair value of the Company's recurring assets and liabilities aggregated by the level in the fair value hierarchy within which those measurements fall as of December 31, 2020 are identified in the following tables:

(in thousands)						Level 2						Total
Assets:
Commercial paper						$	217,095					$	217,095
Asset-backed securities						9,438						9,438
Corporate debt securities						39,513						39,513
U.S. government agency bonds						53,582						53,582
Money market funds						4,427						4,427
						$	324,055					$	324,055

(in thousands)						Level 2						Level 3						Total
Liabilities:
Contingent consideration payable						$	—					$	25,825					$	25,825
Deferred compensation plan liability						4,078						—						4,078
						$	4,078					$	25,825					$	29,903

Schedule of significant unobservable inputs used in the valuation of the contingent consideration payable

The following significant unobservable inputs were used in the valuation of the contingent consideration payable of Callidus for the ATB-200 Pompe program:

Contingent Consideration Liability

Fair Value as of March 31, 2021

Valuation Technique

Unobservable Input

Range

(in thousands)

Discount rate

7.5%

Clinical and regulatory milestones

$

25,559

Probability weighted discounted cash flow

Probability of achievement of milestones

75% - 78%

Projected year of payments

2021 - 2022

Schedule of changes in contingent consideration payable

The following table shows the change in the balance of contingent consideration payable for the three months ended March 31, 2021 and March 31, 2020, respectively:

						Three Months Ended March 31,
(in thousands)						2021						2020
Balance, beginning of the period						$	25,825					$	22,681
Changes in fair value during the period, included in the Consolidated Statements of Operations						471						931
Balance, end of the period						$	26,296					$	23,612

X

- 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.

+ 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=117815213&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 http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2C
-URI http://asc.fasb.org/extlink&oid=117815213&loc=SL7498348-110258

Reference 4: 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=117815213&loc=d3e19207-110258

Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (bb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis.

+ 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 (bbb)
-URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258

+ Details

Name:	us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum: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 contingent payment arrangements including the terms that will result in payment and the accounting treatment that will be followed if such contingencies occur, including the potential impact on earnings per share if contingencies are to be settled in common stock of the entity. The description also may include the period over which amounts are expected to be paid, and changes in the amount since the previous reporting period. This also includes contingent options and commitments.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfBusinessAcquisitionsByAcquisitionContingentConsiderationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration