XML 49 R31.htm IDEA: XBRL DOCUMENT v3.22.4
Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Measurements  
Schedule of fair value hierarchy

The carrying values of our assets that are required to be measured at fair value on a recurring basis as of December 31, 2022 and 2021 approximate fair value because of our ability to immediately convert these instruments into cash with minimal expected change in value which are classified in the table below in one of the three categories of the fair value hierarchy described above (in thousands):

    

Fair Value Measurements

    

Level 1

    

Level 2

    

Level 3

    

Total

December 31, 2022

 

  

 

  

 

  

 

  

Assets:

 

  

 

  

 

  

 

  

Money market mutual fund

$

1,843

$

$

$

1,843

Mutual funds

 

99,777

 

 

 

99,777

U.S. Treasury notes

 

190,718

 

 

 

190,718

Corporate debt securities

196,233

196,233

$

488,571

$

$

$

488,571

Liabilities:

Convertible Senior Notes

$

$

406,708

$

$

406,708

Contingent consideration

4,677

4,677

$

$

406,708

$

4,677

$

411,385

Fair Value Measurements 

    

Level 1

    

Level 2

    

Level 3

    

Total

December 31, 2021

Assets:

 

  

 

  

 

  

 

  

Money market mutual fund

$

111,313

$

$

$

111,313

Mutual funds

 

110,006

 

 

 

110,006

U.S. Treasury notes

 

223,896

 

 

 

223,896

Corporate debt securities

 

155,796

 

 

 

155,796

$

601,011

$

$

$

601,011

Liabilities:

Convertible Senior Notes

$

$

404,171

$

$

404,171

Contingent consideration

 

 

 

729

 

729

$

$

404,171

$

729

$

404,900

Schedule of estimated fair values and the carrying values

The following table presents the estimated fair values and the carrying values (in thousands):

    

December 31, 2022

December 31, 2021

    

Carrying Value

    

Fair Value

    

Carrying Value

    

Fair Value

2026 Convertible Senior Notes

$

392,621

$

290,132

$

390,523

$

331,783

2025 Convertible Senior Notes

$

14,087

$

12,373

$

13,648

$

13,628

Schedule of losses recognized in earnings and the change in net assets related to the contingent consideration

The losses recognized in earnings and the change in net assets related to the contingent consideration at December 31, 2022 were as follows (in thousands):

    

Fair Value

    

Losses

    

Foreign

    

Fair Value

December 31,

recognized in

Currency

December 31,

2021

earnings

Adjustment

2022

2021 Acquisitions

$

729

$

216

$

(43)

$

902

2022 Acquisitions

 

 

103

 

 

3,775

$

729

$

319

$

(43)

$

4,677