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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2021
Fair Value Disclosures [Abstract]  
Summary of Assets and Liabilities Measured at Fair Value on Recurring Basis

The following table identifies the Company’s assets and liabilities that were measured at fair value on a recurring basis (in thousands):

 

December 31, 2021

 

Level

 

Amortized Cost

 

 

Gross unrealized gains

 

 

Gross unrealized losses

 

 

Fair Value

 

Money market funds

 

1

 

$

253,945

 

 

$

 

 

$

 

 

$

253,945

 

Long-term investments - U.S. Treasury securities

 

1

 

 

65,106

 

 

 

 

 

 

(326

)

 

 

64,780

 

Total

 

 

 

 

319,051

 

 

 

 

 

 

(326

)

 

 

318,725

 

December 31, 2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

 

1

 

$

386,369

 

 

$

 

 

$

 

 

$

386,369