XML 28 R13.htm IDEA: XBRL DOCUMENT v3.22.4

Marketable Securities

12 Months Ended

Dec. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Marketable Securities

Marketable SecuritiesThe following is a summary of the Company's investment portfolio as of December 31, 2022 and 2021 (in thousands):

						As of December 31, 2022
												Gross Unrealized												Estimated
						Cost						Gains			Losses									Fair Value
Available-for-sale securities:
Corporate debt securities						$	35,042					$	—					$	(163)					$	34,879
Debt securities issued by U.S. government agencies						4,005						—						(10)						3,995
Total securities with a maturity of one year or less						$	39,047					$	—					$	(173)					$	38,874
Total available-for-sale securities						$	39,047					$	—					$	(173)					$	38,874

						As of December 31, 2021
												Gross Unrealized												Estimated
						Cost						Gains			Losses									Fair Value
Available-for-sale securities:
Corporate debt securities						$	52,214					$	—					$	(31)					$	52,183
Commercial paper						34,993						—						—						34,993
Debt securities issued by U.S. government agencies						12,111						—						(8)						12,103
Other debt securities						6,398						1						—						6,399
Total securities with a maturity of one year or less						$	105,716					$	1					$	(39)					$	105,678
Corporate debt securities						31,667						—						(138)						31,529
Total securities with a maturity of one to two years						$	31,667					$	—					$	(138)					$	31,529
Total available-for-sale securities						$	137,383					$	1					$	(177)					$	137,207

As of December 31, 2022, the Company had 7 securities with a total fair market value of $38.9 million in an unrealized loss position. The Company believes that any unrealized losses associated with the decline in value of its securities is temporary and is primarily related to the change in market interest rates since purchase, and believes that it is more likely than not that it will be able to hold its debt securities to maturity. Therefore, the Company anticipates a full recovery of the amortized cost basis of its debt securities at maturity and an allowance for credit losses was not recognized.

Securities are evaluated for impairment at the end of each reporting period. The Company did not record any impairment related to its available-for-sale securities during the years ended December 31, 2022 and 2021.

X

- References

No definition available.

+ Details

Name:	us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

The entire disclosure for investments in certain debt and equity securities.

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 942
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2209399

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 946
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2324412

Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI https://asc.fasb.org/topic&trid=2196928

Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 940
-SubTopic 320
-URI https://asc.fasb.org/subtopic&trid=2176304

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Publisher SEC
-Name Regulation S-K (SK)
-Number 229
-Section 1403
-Paragraph (b)

+ Details

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