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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2021

Fair Value Disclosures [Abstract]

Assets Measured at Fair Value On a Recurring Basis

Financial instruments measured at fair value on a recurring basis:

						As of December 31, 2021																		As of December 31, 2020
(in thousands)						Total						Level 1						Level 2						Total						Level 1						Level 2
Cash equivalents
Money market funds						$	25,019					$	25,019					$	—					$	5,340					$	5,340					$	—
Commercial paper						179,455						—						179,455						48,908						—						48,908
Municipal debt securities						63,875						—						63,875						34,338						—						34,338
Federal agency debt securities						—						—						—						51,400						—						51,400
Total cash equivalents						268,349						25,019						243,330						139,986						5,340						134,646
Short-term
Commercial paper						419,469						—						419,469						229,821						—						229,821
Corporate debt securities						234,436						—						234,436						166,768						—						166,768
Municipal debt securities						165,572						—						165,572						87,290						—						87,290
Federal agency debt securities						—						—						—						48,598						—						48,598
Total short-term						819,477						—						819,477						532,477						—						532,477
Long-term
Municipal debt securities						2,231						—						2,231						—						—						—
Total long-term						2,231						—						2,231						—						—						—
Total financial instruments						$	1,090,057					$	25,019					$	1,065,038					$	672,463					$	5,340					$	667,123

Debt Instrument, Fair Value Disclosure

Carrying value and estimated fair value of long-term debt, including current maturities and without reduction for related costs:

						As of December 31, 2021												As of December 31, 2020
(in thousands)						Carrying Value						Estimated Fair Value						Carrying Value						Estimated Fair Value						Fair Value Level
Non-publicly held debt						$	1,447,462					$	1,261,170					$	1,555,637					$	1,191,008					3

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 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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- References

No definition available.

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X

- Definition

Tabular disclosure of liabilities, 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset.

+ 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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