XML 25 R13.htm IDEA: XBRL DOCUMENT
v3.21.2

Balance Sheet Components | 9 Months Ended
--- | ---
Sep. 30, 2021
Balance Sheet Components [Abstract] |
Balance Sheet Components | NOTE 7. BALANCE SHEET COMPONENTS Short-term restricted cash As of September 30, 2021, the short-term restricted cash balance of $0.5 million was comprised of security deposits for the credit cards of employees. As of December 31, 2020, the short-term restricted cash balance of $0.8 million was comprised of $0.5 million for a customer deposit and $0.3 million for a security deposit for the credit cards of employees. In connection with the acquisition of Omniome in September 2021, we acquired $0.2 million of short-term restricted cash consisting of a security deposit for credit cards of Omniome employees. Inventory As of September 30, 2021 and December 31, 2020, our inventory consisted of the following components: September 30, December 31,(in thousands)2021 2020Purchased materials$ 5,511 $ 3,531Work in process 8,762 6,651Finished goods 4,003 4,048Inventory$ 18,276 $ 14,230 Long-term restricted cash For our facility located at 1305 O’Brien Drive, Menlo Park, California (the “O’Brien Lease”), we were required to establish a letter of credit for the benefit of the landlord and to submit $4.5 million as a deposit for the letter of credit in October 2015. Subsequently, pursuant to the terms of the O’Brien Lease, beginning on May 1, 2019, the amount of the letter of credit was reduced by $0.5 million each year thereafter on May 1. As such, $3.0 million and $3.5 million was recorded in long-term restricted cash related to the O’Brien Lease in the Condensed Consolidated Balance Sheets as of September 30, 2021 and December 31, 2020, respectively. In connection with the acquisition of Omniome in September 2021, we acquired $1.6 million of long-term restricted cash related to a letter of credit established for a facility lease. Intangible assets and goodwill Intangible assets include acquired in-process research and development (IPR&D) of $400 million as a result of the Omniome acquisition in September 2021. We capitalize IPR&D as an indefinite-lived intangible asset and either begin to amortize it over the life of the product upon commercialization or record an impairment charge if the project is abandoned. In addition to IPR&D, we had the following definite-lived intangible assets from business acquisitions as of September 30, 2021 (in thousands, except years): Estimated Gross Net Useful Life Carrying Accumulated Carrying (in years) Amount Amortization AmountDeveloped technology15 $ 11,000 $ (123) $ 10,877Customer relationships2 360 (31) 329Total $ 11,360 $ (154) $ 11,206 The estimated future amortization expense of acquisition-related intangible assets with definite lives is estimated as follows: (in thousands)2021$ 2272022 9132023 8382024 7332025 7332026 and thereafter 7,762Total$ 11,206 We review definite-lived intangible assets for impairment on an annual basis or when indication of potential impairment exists, such as a significant reduction in cash flows associated with the assets. Goodwill is reviewed for impairment at least annually during the second quarter, or more frequently if an event occurs indicating the potential for impairment. Changes to goodwill during the nine months ended September 30, 2021 were as follows (in thousands): Balance as of December 31, 2020$ -Acquisition of Omniome 392,224Acquisition of Circulomics 19,309Balance as of September 30, 2021$ 411,533 Deferred revenueAs of September 30, 2021, we had a total of $28.2 million of deferred revenue, $9.8 million of which was recorded as deferred revenue, current and primarily relates to deferred service contract revenues to be recognized over the next year and the remaining $18.4 million was recorded as deferred revenue, non-current. Of the deferred revenue, non-current balance, $16.8 million relates to payments received under the Invitae collaboration described in Note 3 and $1.6 million primarily relates to deferred service contract revenues and is scheduled to be recognized in the next 5 years. Revenue recorded in the nine months ended September 30, 2021 includes $7.4 million of previously deferred revenue that was included in deferred revenue, current as of December 31, 2020. Contract assets as of September 30, 2021 and December 31, 2020 were not material.As of September 30, 2021, we had a total of $0.7 million of deferred commissions included in prepaid expenses and other current assets which is recognized as sales, general and administrative expense as the related revenue is recognized. Costs to obtain a contract are expensed as incurred if the amortization period would have been a year or less. Term loansIn connection with the acquisition of Omniome, we acquired $1.3 million in short-term debt and $3.0 million in long-term debt relating to a term loan facility that Omniome obtained in April 2020. Borrowings on the term loan facility were used to fund Omniome’s purchases of equipment, which serves as collateral. Each term loan has a term of 43 months and bears a fixed interest rate of approximately 17% annually. The fee for the elective option to prepay all, but not less than all, of the borrowed amounts at any time after the 24th month and before the 43rd month after the commencement date, is 4% of the outstanding loan balance. Payments are made in equal monthly installments including principal and interest. The following table presents the future principal payments on the term loans (in thousands): Remainder of 2021$ 3612022 1,6082023 1,8422024 490Total$ 4,301

X
- Definition Supplemental Balance Sheet Components Disclosure [Abstract] + References No definition available. + Details
Name: | pacb_SupplementalBalanceSheetComponentsDisclosureAbstract
Namespace Prefix: | pacb_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure for supplemental balance sheet disclosures, including descriptions and amounts for assets, liabilities, and equity. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -URI http://asc.fasb.org/topic&trid=2122208 + Details
Name: | us-gaap_SupplementalBalanceSheetDisclosuresTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration