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Short-Term and Long-Term Investments (Tables) | 9 Months Ended
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Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract] |
Summary of Investment | Details of our investments are as follows (in thousands):
|  | September 30, 2021 |
|  | Cash and Cash Equivalents |  |  | Short-Term Investments |  |  | Long-Term Investments |
Measured at fair value: |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 89,254 |  |  | $ | — |  |  | $ | — |
U.S. Treasury Obligations |  |  | — |  |  |  | 50,217 |  |  |  | — |
Failed Auction Security |  |  | — |  |  |  | — |  |  |  | 2,598 |
Total |  |  | 89,254 |  |  |  | 50,217 |  |  |  | 2,598 |
Other measurement basis: |  |  |  |  |  |  |  |  |  |  |  |
Cash on hand |  |  | 89,409 |  |  |  | — |  |  |  | — |
Total |  | $ | 178,663 |  |  | $ | 50,217 |  |  | $ | 2,598 |
|  | December 31, 2020 |
|  | Cash and Cash Equivalents |  |  | Short-Term Investments |  |  | Long-Term Investments |
Measured at fair value: |  |  |  |  |  |  |  |  |  |  |  |
Available-for-sale debt securities: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 69,493 |  |  | $ | — |  |  | $ | — |
U.S. Treasury Obligations |  |  | 19,998 |  |  |  | 50,166 |  |  |  | — |
Failed Auction Security |  |  | — |  |  |  | — |  |  |  | 2,517 |
Total |  |  | 89,491 |  |  |  | 50,166 |  |  |  | 2,517 |
Other measurement basis: |  |  |  |  |  |  |  |  |  |  |  |
Cash on hand |  |  | 72,251 |  |  |  | — |  |  |  | — |
Total |  | $ | 161,742 |  |  | $ | 50,166 |  |  | $ | 2,517 |
Summary of Available-for-Sale Securities | The following is a summary of the available-for-sale securities (in thousands):
September 30, 2021 |  | Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. Treasury Obligations |  | $ | 50,216 |  |  | $ | 1 |  |  | $ | — |  |  | $ | 50,217 |
Failed Auction Security |  |  | 3,000 |  |  |  | — |  |  |  | 402 |  |  |  | 2,598 |
December 31, 2020 |  | Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Estimated Fair Value |
U.S. Treasury Obligations |  | $ | 70,172 |  |  | $ | — |  |  | $ | 8 |  |  | $ | 70,164 |
Failed Auction Security |  |  | 3,000 |  |  |  | — |  |  |  | 483 |  |  |  | 2,517 |
Cost and Estimated Fair Value of Failed Auction Security by Contractual Maturities | The amortized cost and estimated fair value of the available-for-sale securities on September 30, 2021, by type and contractual maturities, are shown below (in thousands):
|  | Cost |  |  | Estimated Fair Value |
U.S. Treasury Obligations: |  |  |  |  |  |  |  |
Maturities greater than three months but less than one year |  | $ | 50,216 |  |  | $ | 50,217 |
|  | $ | 50,216 |  |  | $ | 50,217 |
|  | Cost |  |  | Estimated Fair Value |
Failed Auction Security: |  |  |  |  |  |  |  |
Due in twenty to forty years |  | $ | 3,000 |  |  | $ | 2,598 |
Rollforward of Credit (Gain) Loss Recognized in Earnings on Failed Auction Security | The following table represents a rollforward of the activity related to the credit loss recognized in earnings on the Failed Auction Security for the nine months ended September 30 (in thousands):
|  | 2021 |  |  | 2020 |
Balance at the beginning of the period |  | $ | 33 |  |  | $ | 37 |
Reductions in the amount related to credit gain for which other-than- temporary impairment was not previously recognized |  |  | (3 | ) |  |  | (3 | )
Balance at the end of the period |  | $ | 30 |  |  | $ | 34 |

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- Definition Tabular disclosure of available-for-sale securities which includes, but is not limited to, changes in the cost basis and fair value, fair value and gross unrealized gain (loss), fair values by type of security, contractual maturity and classification, amortized cost basis, contracts to acquire securities to be accounted for as available-for-sale, debt maturities, transfers to trading, change in net unrealized holding gain (loss) net of tax, continuous unrealized loss position fair value, aggregate losses qualitative disclosures, other than temporary impairment (OTTI) losses or other disclosures related to available for sale securities. + References No definition available. + Details
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- Definition Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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- Definition Tabular disclosure of the amount of other than temporary impairment (OTTI) related to credit losses recognized in earnings including: (a) the beginning balance of the amount related to credit losses on debt securities held by the investor at the beginning of the period for which a portion of an OTTI was recognized in other comprehensive income; (b) additions for the amount related to the credit loss for which an OTTI was not previously recognized; (c) reductions for securities sold during the period (realized); (d) reductions for securities for which the amount previously recognized in other comprehensive income was recognized in earnings because the investor intends to sell the security or more likely than not will be required to sell the security before recovery of its amortized cost basis; (e) additional increases to the amount related to the credit loss for which an OTTI was previously recognized when the investor does not intend to sell the security and it is not more likely than not that the investor will be required to sell the security before recovery of its amortized cost basis; (f) reductions for increases in cash flows expected to be collected that are recognized over the remaining life of the security; and (g) the ending balance of the amount related to credit losses on debt securities held by the entity at the end of the period for which a portion of an OTTI was recognized in other comprehensive income. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27340-111563 + Details
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- Definition Tabular disclosure of the reconciliation of available-for-sale securities from cost basis to fair value. + References No definition available. + Details
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