XML 44 R33.htm IDEA: XBRL DOCUMENT v3.23.3

Fair Value Measurements (Tables)

9 Months Ended

Sep. 30, 2023

Fair Value Disclosures [Abstract]

Fair Values of Financial Instruments Measured On Recurring Basis

The following tables present the fair values of the Company’s financial assets or liabilities that are measured at fair value on a recurring basis (in thousands):

September 30, 2023			Level 1						Level 2						Level 3						Fair Value						Carrying Value
Assets:
Cash equivalents:
Money market and other funds			$	288,610					$	—					$	—					$	288,610					$	288,610
Short-term investments:
Certificates of deposit			—						3,753						—						3,753						3,753
Consensus common stock			26,044						—						—						26,044						26,044
Long-term investments:
Investment in corporate debt securities			—						—						15,469						15,469						15,469
Total assets measured at fair value			$	314,654					$	3,753					$	15,469					$	333,876					$	333,876
Liabilities:
Contingent consideration			$	—					$	—					$	3,389					$	3,389					$	3,389
Total liabilities measured at fair value			$	—					$	—					$	3,389					$	3,389					$	3,389

December 31, 2022			Level 1						Level 2						Level 3						Fair Value						Carrying Value
Assets:
Cash equivalents:
Money market and other funds			$	312,010					$	—					$	—					$	312,010					$	312,010
Short-term investments:
Consensus common stock			58,421						—						—						58,421						58,421
Long-term investments:
Investment in corporate debt securities			—						—						15,586						15,586						15,586
Total assets measured at fair value			$	370,431					$	—					$	15,586					$	386,017					$	386,017
Liabilities:
Contingent consideration			$	—					$	—					$	555					$	555					$	555
Total liabilities measured at fair value			$	—					$	—					$	555					$	555					$	555

Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation

The following table presents a reconciliation of the Company’s Level 3 financial assets related to our contingent consideration arrangements and investment in corporate debt securities that are measured at fair value on a recurring basis (in thousands):

			Nine months ended September 30,
			2023												2022
			Contingent Consideration Arrangements						Corporate Debt Securities						Contingent Consideration Arrangements						Corporate Debt Securities
Balance as of January 1			$	555					$	15,586					$	5,775					$	—
Fair value at date of acquisition			2,834						—						555						15,000
Fair value adjustments (1)			—						(117)						(2,305)						—
Payments			—						—						(2,919)						—
Balance as of September 30			$	3,389					$	15,469					$	1,106					$	15,000

(1)The fair value adjustments to the contingent consideration arrangements in the table above were recorded within ‘General and administrative’ on the Condensed Consolidated Statements of Operations during the three and nine months ended September 30, 2023 and 2022. The fair value adjustments to the corporate debt securities in the table above were recorded within ‘Change in fair value on available-for-sale investments, net’ on the Condensed Consolidated Statements of Comprehensive (Loss) Income during the three and nine months ended September 30, 2023 and 2022.

Schedule of Carrying and Fair Values

The following table presents the carrying value and the fair value of financial instruments measured at fair value only for disclosure purposes:

			September 30, 2023												December 31, 2022
			Carrying Value						Fair Value						Carrying Value						Fair Value
4.625% Senior Notes			$	456,695					$	389,022					$	456,400					$	390,908
1.75% Convertible Notes			$	544,048					$	508,832					$	542,653					$	548,411

X

- Definition

Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period 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 asset.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)
-SubTopic 10
-Topic 820
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 3
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-3

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
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 information pertaining to carrying amount and estimated fair value of short-term and long-term debt instruments or arrangements, including but not limited to, identification of terms, features, and collateral requirements.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfCarryingValuesAndEstimatedFairValuesOfDebtInstrumentsTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, 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://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration