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Fair Value Measurements (Tables)

12 Months Ended

Dec. 31, 2023

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, 2023																		As of December 31, 2022
(in thousands)						Total						Level 1						Level 2						Total						Level 1						Level 2
Cash equivalents
Money market funds						$	33,613					$	33,613					$	—					$	88,073					$	88,073					$	—
Commercial paper						19,575						—						19,575						50,791						—						50,791
Municipal debt securities						7,848						—						7,848						8,599						—						8,599
Federal agency debt securities						8,201						—						8,201						—						—						—
US Treasury bonds						2,000						—						2,000						—						—						—
Total cash equivalents						71,237						33,613						37,624						147,463						88,073						59,390
Short-term
Commercial paper						237,870						—						237,870						421,279						—						421,279
Corporate debt securities						210,982						—						210,982						166,136						—						166,136
Federal agency debt securities						194,522						—						194,522						107,222						—						107,222
US Treasury Bonds						14,126						—						14,126						—						—						—
Municipal debt securities						13,914						—						13,914						30,426						—						30,426
Total short-term						671,414						—						671,414						725,063						—						725,063
Long-term
Corporate debt securities						43,869						—						43,869						35,688						—						35,688
Federal agency debt securities						12,135						—						12,135						20,050						—						20,050
Municipal debt securities						—						—						—						7,580						—						7,580
Total long-term						56,004						—						56,004						63,318						—						63,318
Total financial instruments						$	798,655					$	33,613					$	765,042					$	935,844					$	88,073					$	847,771

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, 2023												As of December 31, 2022
(in thousands)						Carrying Value						Estimated Fair Value						Carrying Value						Estimated Fair Value						Fair Value Level
Non-publicly held debt						$	1,826,921					$	1,815,351					$	1,626,114					$	1,561,939					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
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-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

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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
-Name Accounting Standards Codification
-Topic 820
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482106/820-10-50-2

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-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

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