XML 23 R11.htm IDEA: XBRL DOCUMENT
v3.21.2

Cash Equivalents and Marketable Securities | 9 Months Ended
--- | ---
Sep. 30, 2021
Investments, Debt and Equity Securities [Abstract] |
Cash Equivalents and Marketable Securities | 4. Cash Equivalents and Marketable Securities The fair value and amortized cost of cash equivalents and marketable securities by major security type as of September 30, 2021 and December 31, 2020 are as follows (in thousands):
|  | September 30, 2021 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Money market funds |  | $ | 331,349 |  |  | $ | - |  |  | $ | - |  |  | $ | 331,349 |
U.S. Treasury securities |  |  | 249,817 |  |  |  | 41 |  |  |  | (97 | ) |  |  | 249,761 |
U.S. government agency securities |  |  | 103,950 |  |  |  | 25 |  |  |  | (14 | ) |  |  | 103,961 |
Corporate debt securities |  |  | 230,724 |  |  |  | 6 |  |  |  | (26 | ) |  |  | 230,704 |
Total cash equivalents and marketable securities |  | $ | 915,840 |  |  | $ | 72 |  |  | $ | (137 | ) |  | $ | 915,775 |
Classified as: |  |  |  |  |  |  |  | Fair Value |
Cash equivalents |  |  |  |  |  |  |  | $ | 372,847 |
Short-term marketable securities |  |  |  |  |  |  |  |  | 225,417 |
Long-term marketable securities |  |  |  |  |  |  |  |  | 317,511 |
Total cash equivalents and marketable securities |  |  |  |  |  |  |  | $ | 915,775 |
|  | December 31, 2020 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Money market funds |  | $ | 50,513 |  |  | $ | - |  |  | $ | - |  |  | $ | 50,513 |
U.S. Treasury securities |  |  | 202,674 |  |  |  | 27 |  |  |  | - |  |  |  | 202,701 |
U.S. government agency securities |  |  | 205,558 |  |  |  | 207 |  |  |  | (1 | ) |  |  | 205,764 |
Corporate debt securities |  |  | 211,086 |  |  |  | 34 |  |  |  | (11 | ) |  |  | 211,109 |
Total cash equivalents and marketable securities |  | $ | 669,831 |  |  | $ | 268 |  |  | $ | (12 | ) |  | $ | 670,087 |
Classified as: |  |  |  |  |  |  |  | Fair Value |
Cash equivalents |  |  |  |  |  |  |  | $ | 117,879 |
Short-term marketable securities |  |  |  |  |  |  |  |  | 472,213 |
Long-term marketable securities |  |  |  |  |  |  |  |  | 79,995 |
Total cash equivalents and marketable securities |  |  |  |  |  |  |  | $ | 670,087 |
As of September 30, 2021 and December 31, 2020 the fair value of securities held by the Company in an unrealized loss position was $312.5 million and $132.6 million, respectively, and as of September 30, 2021 and December 31, 2020, securities held by the Company in an unrealized loss position have been in the continuous loss position for less than 12 months. The Company determined that there was no material change in the credit risk of the above investments during the three and nine months ended September 30, 2021. As such, an allowance for credit losses has not been recognized. As of September 30, 2021, the Company does not intend to sell such securities, and it is not more-likely-than-not that the Company will be required to sell the securities prior to the recovery of the amortized cost basis. Gross realized gains and losses were de minimis for the three and nine months ended September 30, 2021 and 2020 and as a result, amounts reclassified out of accumulated other comprehensive (loss) income for the three and nine months ended September 30, 2021 and 2020 were also de minimis. As of September 30, 2021 and December 31, 2020, all of the Company’s marketable securities had a maturity date of two years or less, were available for use and were classified as available-for-sale.

X
- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
Name: | us-gaap_CashCashEquivalentsAndMarketableSecuritiesTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_InvestmentsDebtAndEquitySecuritiesAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration