XML 39 R18.htm IDEA: XBRL DOCUMENT
v3.20.4

Fair Value Measurements | 12 Months Ended
--- | ---
Dec. 31, 2020
Fair Value Measurements |
Fair Value Measurements | Note 10 – Fair Value Measurements ​ The fair values of cash equivalents, receivables, net, and accounts payable approximate their carrying amounts due to their short duration. The fair value hierarchy is based on inputs to valuation techniques that are used to measure fair value that are either observable or unobservable. Observable inputs reflect assumptions market participants would use in pricing an asset or liability based on market data obtained from independent sources while unobservable inputs reflect a reporting entity’s pricing base upon its own market assumptions. The Company classifies its investments in debt securities as available-for-sale. As described in Note 2 – Summary of Significant Accounting Policies, the January 1, 2020 adoption of ASU 2016-13, Measurement of Credit Losses on Financial Instruments, amended our accounting for available-for-sale debt securities. We review available-for-sale debt securities for impairments related to losses and other factors each quarter. The unrealized gains and losses on the available-for-sale debt securities were not material as of December 31, 2020 and December 31, 2019. The estimated fair value of our financial instruments has been determined by using available market information and appropriate valuation methodologies, as defined in ASC 820, Fair Value Measurements. The fair value hierarchy consists of the following three levels:
| ● | Level 1 – Inputs are quoted prices in active markets for identical assets or liabilities.
| ● | Level 2 – Inputs are quoted prices for similar assets or liabilities in an active market, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable and market-corroborated inputs which are derived primarily from or corroborated by observable market data.
| ● | Level 3 – Inputs are derived from valuation techniques in which one or more significant inputs or value drivers are unobservable.
The following tables summarize assets that are measured at fair value on a recurring basis as of December 31, 2020 and December 31, 2019: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurement at Reporting Date Using
in thousands | ​ | ​ | December 31, 2020 | ​ | Quoted Prices in Active Markets for Identical Assets (Level 1) | ​ | Significant Other Observable Inputs (Level 2) | ​ | Significant Unobservable Inputs (Level 3)
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury Notes | ​ | $ | 4,951 | ​ | - | $ | 4,951 | ​ | -
Corporate Notes / Bonds | ​ | $ | 8,780 | ​ | - | $ | 8,780 | ​ | -
Commercial Paper | ​ | $ | 4,098 | ​ | - | $ | 4,098 | ​ | -
U.S. Treasury Bills | ​ | $ | 5,292 | ​ | - | $ | 5,292 | ​ | -
U.S. Government Agencies | ​ | $ | 3,738 | ​ | - | $ | 3,738 | ​ | -
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | Fair Value Measurement at Reporting Date Using
in thousands | ​ | ​ | December 31, 2019 | ​ | Quoted Prices in Active Markets for Identical Assets (Level 1) | ​ | Significant Other Observable Inputs (Level 2) | ​ | Significant Unobservable Inputs (Level 3)
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. Treasury Notes | ​ | $ | 9,225 | ​ | - | $ | 9,225 | ​ | -
Corporate Notes / Bonds | ​ | $ | 8,169 | ​ | - | $ | 8,169 | ​ | -
Commercial Paper | ​ | $ | 3,482 | ​ | - | $ | 3,482 | ​ | -
U.S. Treasury Bills | ​ | $ | 2,385 | ​ | - | $ | 2,385 | ​ | -
U.S. Government Agencies | ​ | $ | 2,249 | ​ | - | $ | 2,249 | ​ | -
​

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 The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration