XML 21 R10.htm IDEA: XBRL DOCUMENT
v3.22.2

Marketable Securities | 6 Months Ended
--- | ---
Jun. 30, 2022
Marketable Securities [Abstract] |
Marketable Securities | Marketable Securities Marketable securities consisted of the following as of the periods presented (in thousands):
|  | June 30, 2022 |
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |
Marketable Securities |  |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 207,869 |  |  | $ | — |  |  | $ | (1,942) |  |  | $ | 205,927 |  |
Certificates of deposit |  | 17,716 |  |  | — |  |  | (74) |  |  | 17,642 |  |
Corporate debt securities |  | 27,801 |  |  | — |  |  | (262) |  |  | 27,539 |  |
Commercial paper |  | 13,524 |  |  | — |  |  | (80) |  |  | 13,444 |  |
Asset-backed securities |  | 404 |  |  | — |  |  | (1) |  |  | 403 |  |
Total marketable securities |  | $ | 267,314 |  |  | $ | — |  |  | $ | (2,359) |  |  | $ | 264,955 |  |
|  | December 31, 2021
|  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Marketable Securities |  |  |  |  |  |  |  |
U.S. Treasury securities |  | $ | 157,681 |  |  | $ | — |  |  | $ | (404) |  |  | $ | 157,277 |
Certificates of deposit |  | 6,495 |  |  | — |  |  | (5) |  |  | 6,490 |
Corporate debt securities |  | 36,422 |  |  | — |  |  | (95) |  |  | 36,327 |
Commercial paper |  | 11,624 |  |  | 2 |  |  | (6) |  |  | 11,620 |
Asset-backed securities |  | 5,901 |  |  | 1 |  |  | (7) |  |  | 5,895 |
Total marketable securities |  | $ | 218,123 |  |  | $ | 3 |  |  | $ | (517) |  |  | $ | 217,609 |
The Company’s marketable securities have been classified as available for sale. All available for sale debt securities are available for use in current operations. Accordingly, they have been classified as current. Marketable securities in an unrealized loss position for less than 12 months consisted of the following as of the periods presented (in thousands):
|  | June 30, 2022 |  | December 31, 2021
|  | Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss
U.S. Treasury securities |  | $ | 205,927 |  |  | $ | (1,942) |  |  | $ | 143,590 |  |  | $ | (404) |
Certificates of deposit |  | 15,139 |  |  | (74) |  |  | 6,490 |  |  | (5) |
Corporate debt securities |  | 27,539 |  |  | (262) |  |  | 36,327 |  |  | (95) |
Commercial paper |  | 13,444 |  |  | (80) |  |  | 6,984 |  |  | (6) |
Asset-backed securities |  | 403 |  |  | (1) |  |  | 4,967 |  |  | (7) |
Total |  | $ | 262,452 |  |  | $ | (2,359) |  |  | $ | 198,358 |  |  | $ | (517) |
As of June 30, 2022 and December 31, 2021, the Company had no marketable securities in a continuous loss position for 12 months or more. The Company reviews the individual securities that have unrealized losses on a regular basis to evaluate whether any security has experienced other-than-temporary decline in fair value below amortized cost. The Company evaluates, among other factors, whether the Company has the intention to sell any of these marketable securities and whether it is more likely than not that the Company will be required to sell any securities before recovery of the amortized cost basis. Since the Company has the ability to hold its investments until maturity, and the decline in fair value was not due to any credit-related factor, no decline was deemed to be other-than-temporary. The Company had no realized gains or losses from marketable securities that were reclassified out of accumulated other comprehensive income for the three and six months ended June 30, 2022 and 2021. The following summarizes the remaining contractual maturities of the Company’s marketable securities as of June 30, 2022 (in thousands):
| Fair Value
One year or less | $ | 259,168 |
Over one year through five years | 5,787 |
Total marketable securities | $ | 264,955 |

X
- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
Name: | us-gaap_InvestmentsInDebtAndMarketableEquitySecuritiesAndCertainTradingAssetsDisclosureTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration

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