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Cash, Cash Equivalents and Short-Term Investments (Tables)

12 Months Ended

Dec. 31, 2021

Cash, Cash Equivalents and Short-Term Investments

Schedule of cash, cash equivalents and short-term investments

Cash, cash equivalents and short-term investments consisted of the following as of December 31, 2021 and 2020 (in thousands):

​

​	​	​	​	​	​	​
​	​	Carrying Value
​		2021			2020
Cash	​	$	27,788	​	​	25,053
Cash equivalents:	​		​	​	​	​
Money market mutual funds	​		111,313	​	​	11,820
Total cash and cash equivalents	​		139,101	​	​	36,873
Short-term investments:	​		​	​	​	​
U.S. Treasury notes and bills	​		223,896	​	​	23,309
Mutual funds	​		110,006	​	​	33,135
Corporate debt securities	​	​	155,796	​	​	—
Total short-term investments	​		489,698	​	​	56,444
Cash, cash equivalents and short-term investments	​	$	628,799	​	$	93,317

​

Schedule of available-for-sale debt securities

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale debt securities by type of security at December 31, 2021 were as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

​

​

​

Cost

Gains

Losses

Fair Value

U.S. Treasury notes

​

$

226,020

​

$

12

​

​

(2,136)

​

$

223,896

Corporate debt securities

​

​

157,527

​

​

—

​

​

(1,731)

​

​

155,796

Total available-for-sale investments

​

$

383,547

​

$

12

​

$

(3,867)

​

$

379,692

The amortized cost, gross unrealized gains, gross unrealized losses and fair value of available-for-sale debt securities by type of security at December 31, 2020 were as follows (in thousands):

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

​

Amortized

​

Unrealized

​

Unrealized

​

​

​

​

Cost

Gains

Losses

Fair Value

U.S. Treasury notes

​

$

23,179

$

173

$

(43)

​

$

23,309

Total available-for-sale investments

​

$

23,179

$

173

​

$

(43)

​

$

23,309

Schedule of investments based on stated contractual maturities

The following table summarizes the fair value of available-for-sale debt securities based on stated contractual maturities as of December 31, 2021 (in thousands):

​

​	​	​	​	​	​	​
​		Amortized Cost			Fair Value
Due in less than one year	​	$	39,081	​	$	39,035
Due between one and six years	​		344,466	​		340,657
Total	​	$	383,547	​	$	379,692

​

Schedule of unrealized gains (losses) on investments

Unrealized gains (losses) during 2021, 2020 and 2019 related to equity securities held at December 31, 2021, 2020 and 2019 are as follows (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​		2021			2020			2019
Net losses recognized during the year on equity securities	​	$	(1,386)	​	$	(245)	​	$	(102)
Less: net losses recognized during the year on equity securities sold during the year	​		—	​		(1,090)	​	​	—
Unrealized gains (losses) recognized during the year on equity securities still held at December 31, 2021, 2020 and 2019	​	$	(1,386)	​	$	845	​	$	(102)

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- Definition

Tabular disclosure of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 320
-URI http://asc.fasb.org/topic&trid=2196928

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