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v3.22.1

Financial Instruments (Tables) | 3 Months Ended
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Mar. 31, 2022
Financial Instruments [Abstract] |
Summary of Assets and Liabilities Measured at Fair Value on a Recurring Basis |
| March 31, 2022 |  | December 31, 2021 |
(in thousands) | Level 1 |  | Level 2 |  | Level 3 |  | Total |  | Level 1 |  | Level 2 |  | Level 3 |  | Total |
Assets |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash and money market funds | $ | 227,251 |  | $ | — |  | $ | — |  | $ | 227,251 |  | $ | 327,315 |  | $ | — |  | $ | — |  | $ | 327,315 |
Commercial paper |  | — |  |  | 143,958 |  |  | — |  |  | 143,958 |  |  | — |  |  | 133,185 |  |  | — |  |  | 133,185 |
U.S. government & agency securities |  | — |  |  | 32,377 |  |  | — |  |  | 32,377 |  |  | — |  |  | 225 |  |  | — |  |  | 225 |
U.S. Treasury securities |  | — |  |  | 24,988 |  |  | — |  |  | 24,988 |  |  | — |  |  | — |  |  | — |  |  | — |
Total cash and cash equivalents |  | 227,251 |  |  | 201,323 |  |  | — |  |  | 428,574 |  |  | 327,315 |  |  | 133,410 |  |  | — |  |  | 460,725 |
Investments: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | — |  |  | 141,976 |  |  | — |  |  | 141,976 |  |  | — |  |  | 187,632 |  |  | — |  |  | 187,632 |
Corporate debt securities |  | — |  |  | 5,313 |  |  | — |  |  | 5,313 |  |  | — |  |  | 8,968 |  |  | — |  |  | 8,968 |
U.S. government & agency securities |  | — |  |  | 386,912 |  |  | — |  |  | 386,912 |  |  | — |  |  | 387,075 |  |  | — |  |  | 387,075 |
Total investments |  | — |  |  | 534,201 |  |  | — |  |  | 534,201 |  |  | — |  |  | 583,675 |  |  | — |  |  | 583,675 |
Short-term restricted cash: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | 500 |  |  | — |  |  | — |  |  | 500 |  |  | 500 |  |  | — |  |  | — |  |  | 500 |
Long-term restricted cash: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cash |  | 4,982 |  |  | — |  |  | — |  |  | 4,982 |  |  | 4,592 |  |  | — |  |  | — |  |  | 4,592 |
Total assets measured at fair value | $ | 232,733 |  | $ | 735,524 |  | $ | — |  | $ | 968,257 |  | $ | 332,407 |  | $ | 717,085 |  | $ | — |  | $ | 1,049,492 |
Liabilities |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Contingent consideration | $ | — |  | $ | — |  | $ | 168,654 |  | $ | 168,654 |  | $ | — |  | $ | — |  | $ | 169,717 |  | $ | 169,717 |
Total liabilities measured at fair value | $ | — |  | $ | — |  | $ | 168,654 |  | $ | 168,654 |  | $ | — |  | $ | — |  | $ | 169,717 |  | $ | 169,717 |
Changes in the estimated fair value of contingent consideration liabilities [Table Text Block] |
(in thousands) |  | Level 3
Beginning balance as of December 31, 2021 | $ | 169,717
Change in estimated fair value |  | (1,063)
Ending balance as of March 31, 2022 | $ | 168,654
Summary of Cash, Cash Equivalents and Investments |
| As of March 31, 2022
|  |  | Gross |  | Gross |  |
| Amortized |  | unrealized |  | unrealized |  | Fair
(in thousands) | Cost |  | gains |  | losses |  | Value
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |
Cash and money market funds | $ | 227,251 |  | $ | — |  | $ | — |  | $ | 227,251
Commercial paper |  | 143,964 |  |  | 2 |  |  | (8) |  |  | 143,958
U.S. government & agency securities |  | 32,386 |  |  | — |  |  | (9) |  |  | 32,377
U.S. Treasury securities |  | 24,989 |  |  | — |  |  | (1) |  |  | 24,988
Total cash and cash equivalents |  | 428,590 |  |  | 2 |  |  | (18) |  |  | 428,574
Investments: |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | 142,266 |  |  | 1 |  |  | (291) |  |  | 141,976
Corporate debt securities |  | 5,322 |  |  | — |  |  | (9) |  |  | 5,313
U.S. government & agency securities |  | 390,682 |  |  | 7 |  |  | (3,777) |  |  | 386,912
Total investments |  | 538,270 |  |  | 8 |  |  | (4,077) |  |  | 534,201
Total cash, cash equivalents and investments | $ | 966,860 |  | $ | 10 |  | $ | (4,095) |  | $ | 962,775
Short-term restricted cash: |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 500 |  | $ | — |  | $ | — |  | $ | 500
Long-term restricted cash: |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 4,982 |  | $ | — |  | $ | — |  | $ | 4,982
| As of December 31, 2021
|  |  | Gross |  | Gross |  |
| Amortized |  | unrealized |  | unrealized |  | Fair
(in thousands) | Cost |  | gains |  | losses |  | Value
Cash and cash equivalents: |  |  |  |  |  |  |  |  |  |  |
Cash and money market funds | $ | 327,316 |  | $ | — |  | $ | — |  | $ | 327,316
Commercial paper |  | 133,190 |  |  | — |  |  | (5) |  |  | 133,185
U.S. government & agency securities |  | 225 |  |  | — |  |  | — |  |  | 224
Total cash and cash equivalents |  | 460,731 |  |  | — |  |  | (5) |  |  | 460,725
Investments: |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | 187,705 |  |  | — |  |  | (73) |  |  | 187,632
Corporate debt securities |  | 8,964 |  |  | 9 |  |  | (5) |  |  | 8,968
U.S. government & agency securities |  | 388,088 |  |  | 1 |  |  | (1,014) |  |  | 387,075
Total investments |  | 584,757 |  |  | 10 |  |  | (1,092) |  |  | 583,675
Total cash, cash equivalents and investments | $ | 1,045,488 |  | $ | 10 |  | $ | (1,097) |  | $ | 1,044,400
Short-term restricted cash: |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 500 |  | $ | — |  | $ | — |  | $ | 500
Long-term restricted cash: |  |  |  |  |  |  |  |  |  |  |
Cash | $ | 4,592 |  | $ | — |  | $ | — |  | $ | 4,592
Summary of Contractual Maturities of Cash Equivalents and Available-for-Sale Investments |
(in thousands) | Fair Value
Due in one year or less | $ | 651,213
Due after one year through five years |  | 84,311
Total investments | $ | 735,524

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