XML 27 R16.htm IDEA: XBRL DOCUMENT
v3.21.2

FAIR VALUE MEASUREMENTS (Tables) | 9 Months Ended
--- | ---
Sep. 30, 2021
Fair Value Disclosures [Abstract] |
Schedule of cash equivalents, restricted cash and marketable securities by security type | Cash equivalents, restricted cash and marketable securities by security type at September 30, 2021 were as follows:
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
Included in cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 19,805 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,805 |
Commercial paper |  |  | 5,000 |  |  |  | — |  |  |  | — |  |  |  | 5,000 |
|  | $ | 24,805 |  |  | $ | — |  |  | $ | — |  |  | $ | 24,805 |
Restricted cash: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 92 |  |  | $ | — |  |  | $ | — |  |  | $ | 92 |
Certificate of deposit |  |  | 271 |  |  |  | — |  |  |  | — |  |  |  | 271 |
|  | $ | 363 |  |  | $ | — |  |  | $ | — |  |  | $ | 363 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities (due in less than one year) |  | $ | 14,056 |  |  | $ | 3 |  |  | $ | — |  |  | $ | 14,059 |
U.S. Treasury securities (due in one to two years) |  |  | 7,099 |  |  |  | 2 |  |  |  | — |  |  |  | 7,101 |
Municipal securities (due in one to two years) |  |  | 3,000 |  |  |  | — |  |  |  | (1 | ) |  |  | 2,999 |
Government-sponsored enterprise securities (due in less than one year) |  |  | 11,250 |  |  |  | 2 |  |  |  | — |  |  |  | 11,252 |
Government-sponsored enterprise securities (due in one to two years) |  |  | 5,000 |  |  |  | — |  |  |  | (3 | ) |  |  | 4,997 |
Commercial paper (due in less than one year) |  |  | 72,440 |  |  |  | 10 |  |  |  | (10 | ) |  |  | 72,440 |
Corporate notes (due in less than one year) |  |  | 49,309 |  |  |  | 32 |  |  |  | (8 | ) |  |  | 49,333 |
Corporate notes (due in one to two years) |  |  | 24,276 |  |  |  | 5 |  |  |  | (16 | ) |  |  | 24,265 |
|  | $ | 186,430 |  |  | $ | 54 |  |  | $ | (38 | ) |  | $ | 186,446 |
Cash equivalents, restricted cash and marketable securities by security type at December 31, 2020 were as follows:
|  |  |  |  |  | Gross |  |  | Gross |  |  |  |  |
|  | Amortized |  |  | Unrealized |  |  | Unrealized |  |  | Estimated |
(In thousands) |  | Cost |  |  | Gains |  |  | Losses |  |  | Fair Value |
Included in cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 4,356 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,356 |
Restricted cash: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market fund |  | $ | 92 |  |  | $ | — |  |  | $ | — |  |  | $ | 92 |
Certificate of deposit |  |  | 271 |  |  |  | — |  |  |  | — |  |  |  | 271 |
|  | $ | 363 |  |  | $ | — |  |  | $ | — |  |  | $ | 363 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. Treasury securities (due in less than one year) |  | $ | 5,608 |  |  | $ | 2 |  |  | $ | — |  |  | $ | 5,610 |
U.S. Treasury securities (due in one to two years) |  |  | 5,093 |  |  |  | 2 |  |  |  | — |  |  |  | 5,095 |
Government-sponsored enterprise securities (due in less than one year) |  |  | 5,249 |  |  |  | 3 |  |  |  | — |  |  |  | 5,252 |
Government-sponsored enterprise securities (due in one to two years) |  |  | 23,499 |  |  |  | 7 |  |  |  | (1 | ) |  |  | 23,505 |
Commercial paper (due in less than one year) |  |  | 112,388 |  |  |  | 29 |  |  |  | (8 | ) |  |  | 112,409 |
Corporate notes (due in less than one year) |  |  | 63,051 |  |  |  | 35 |  |  |  | (7 | ) |  |  | 63,079 |
Corporate notes (due in one to two years) |  |  | 34,771 |  |  |  | 33 |  |  |  | (17 | ) |  |  | 34,787 |
|  | $ | 249,659 |  |  | $ | 111 |  |  | $ | (33 | ) |  | $ | 249,737 |
Schedule of cash equivalents and marketable securities with unrealized losses | Cash equivalents and marketable securities with unrealized losses that have been in a continuous unrealized loss position for less than 12 months and 12 months or longer at September 30, 2021 and December 31, 2020 were as follows:
|  | Less Than 12 Months |  |  | 12 Months or Longer |  |  | Total |
|  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |  |  |  |  |  |  | Gross |
|  | Estimated |  |  | Unrealized |  |  | Estimated |  |  | Unrealized |  |  | Estimated |  |  | Unrealized |
(In thousands) |  | Fair Value |  |  | Losses |  |  | Fair Value |  |  | Losses |  |  | Fair Value |  |  | Losses |
As of September 30, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Municipal securities (due in one to two years) |  | $ | 2,999 |  |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | 2,999 |  |  |  | (1 | )
Government-sponsored enterprise securities (due in one to two years) |  |  | 4,997 |  |  |  | (3 | ) |  |  | — |  |  |  | — |  |  |  | 4,997 |  |  |  | (3 | )
Commercial paper (due in less than one year) |  |  | 31,965 |  |  |  | (10 | ) |  |  | — |  |  |  | — |  |  |  | 31,965 |  |  |  | (10 | )
Corporate notes (due in less than one year) |  |  | 17,252 |  |  |  | (8 | ) |  |  | — |  |  |  | — |  |  |  | 17,252 |  |  |  | (8 | )
Corporate notes (due in one to two years) |  |  | 15,232 |  |  |  | (16 | ) |  |  | — |  |  |  | — |  |  |  | 15,232 |  |  |  | (16 | )
|  | $ | 72,445 |  |  | $ | (38 | ) |  | $ | — |  |  | $ | — |  |  | $ | 72,445 |  |  | $ | (38 | )
As of December 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Government-sponsored enterprise securities (due in one to two years) |  | $ | 4,999 |  |  | $ | (1 | ) |  | $ | — |  |  | $ | — |  |  | $ | 4,999 |  |  | $ | (1 | )
Commercial paper (due in less than one year) |  |  | 22,956 |  |  |  | (8 | ) |  |  | — |  |  |  | — |  |  |  | 22,956 |  |  |  | (8 | )
Corporate notes (due in less than one year) |  |  | 12,573 |  |  |  | (7 | ) |  |  | — |  |  |  | — |  |  |  | 12,573 |  |  |  | (7 | )
Corporate notes (due in one to two years) |  |  | 16,322 |  |  |  | (17 | ) |  |  | — |  |  |  | — |  |  |  | 16,322 |  |  |  | (17 | )
|  | $ | 56,850 |  |  | $ | (33 | ) |  | $ | — |  |  | $ | — |  |  | $ | 56,850 |  |  | $ | (33 | )
Schedule of financial instruments measured at fair value on recurring basis | The following table presents information about our financial instruments that are measured at fair value on a recurring basis as of September 30, 2021 and December 31, 2020 and indicates the fair value category assigned.
|  | Fair Value Measurements at Reporting Date Using |
|  | Quoted Prices in |  |  |  |  |  |  | Significant |  |  |  |  |
|  | Active Markets for |  |  | Significant Other |  |  | Unobservable |  |  |  |  |
|  | Identical Assets |  |  | Observable Inputs |  |  | Inputs |  |  |  |  |
(In thousands) |  | Level 1 |  |  | Level 2 |  |  | Level 3 |  |  | Total |
As of September 30, 2021: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds(1) |  | $ | 19,805 |  |  | $ | — |  |  | $ | — |  |  | $ | 19,805 |
U.S. Treasury securities(2)(3) |  |  | — |  |  |  | 21,160 |  |  |  | — |  |  |  | 21,160 |
Municipal securities(3) |  |  | — |  |  |  | 2,999 |  |  |  | — |  |  |  | 2,999 |
Government-sponsored enterprise securities(2)(3) |  |  | — |  |  |  | 16,249 |  |  |  | — |  |  |  | 16,249 |
Commercial paper(1)(2) |  |  | — |  |  |  | 77,440 |  |  |  | — |  |  |  | 77,440 |
Corporate notes(2)(3) |  |  | — |  |  |  | 73,598 |  |  |  | — |  |  |  | 73,598 |
Total |  | $ | 19,805 |  |  | $ | 191,446 |  |  | $ | — |  |  | $ | 211,251 |
As of December 31, 2020: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Money market funds(1) |  | $ | 4,356 |  |  | $ | — |  |  | $ | — |  |  | $ | 4,356 |
U.S. Treasury securities(2)(3) |  |  | — |  |  |  | 10,705 |  |  |  | — |  |  |  | 10,705 |
Government-sponsored enterprise securities(2)(3) |  |  | — |  |  |  | 28,757 |  |  |  | — |  |  |  | 28,757 |
Commercial paper(2) |  |  | — |  |  |  | 112,409 |  |  |  | — |  |  |  | 112,409 |
Corporate notes(2)(3) |  |  | — |  |  |  | 97,866 |  |  |  | — |  |  |  | 97,866 |
Equity investment(4) |  |  | — |  |  |  | 361 |  |  |  | — |  |  |  | 361 |
Total |  | $ | 4,356 |  |  | $ | 250,098 |  |  | $ | — |  |  | $ | 254,454 |
(1) | Included in cash and cash equivalents on our condensed balance sheets.
(2) | Included in current portion of marketable securities on our condensed balance sheets.
(3) | Included in noncurrent portion of marketable securities on our condensed balance sheets.
(4) | Included in deposits and other assets on our condensed balance sheets. See “Equity Investment” in this Note 2 for further discussion of this equity investment.

X
- Definition Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset. + References Reference 1: http://www.xbrl.org/2003/role/exampleRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 55 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=121590138&loc=SL82922954-210456 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -SubTopic 10 -Section 50 -Paragraph 6 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123581744&loc=d3e27290-111563 Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef -Publisher FASB -Name Accounting Standards Codification -Topic 326 -SubTopic 30 -Section 50 -Paragraph 4 -URI http://asc.fasb.org/extlink&oid=124269663&loc=SL82922888-210455 + Details
Name: | us-gaap_DebtSecuritiesAvailableForSaleUnrealizedLossPositionFairValueTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=123594938&loc=d3e13467-108611 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 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
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 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 -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://www.xbrl.org/2003/role/disclosureRef -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 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration