XML 25 R12.htm IDEA: XBRL DOCUMENT
v3.23.1

Cash Equivalents and Marketable Securities | 3 Months Ended
--- | ---
Mar. 31, 2023
Cash and Cash Equivalents [Abstract] |
Cash Equivalents and Marketable Securities | 4. Cash Equivalents and Marketable Securities Cash equivalents and marketable securities consisted of the following:
|  | March 31, 2023 |
|  | Amortized Cost Basis |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
Money market funds |  | $ | 46,137 |  |  | $ | - |  |  | $ | - |  |  | $ | 46,137 |
Commercial paper |  |  | 73,834 |  |  |  | - |  |  |  | - |  |  |  | 73,834 |
Corporate debt securities |  |  | 17,876 |  |  |  | - |  |  |  | (13 | ) |  |  | 17,863 |
Asset-based securities |  |  | 6,564 |  |  |  | - |  |  |  | (2 | ) |  |  | 6,562 |
U.S. government securities |  |  | 94,469 |  |  |  | 10 |  |  |  | (80 | ) |  |  | 94,399 |
U.S. agency securities |  |  | 6,763 |  |  |  | - |  |  |  | (13 | ) |  |  | 6,750 |
Supranational debt securities |  |  | 4,561 |  |  |  | - |  |  |  | (9 | ) |  |  | 4,552 |
Total |  |  | 250,204 |  |  |  | 10 |  |  |  | (117 | ) |  |  | 250,097 |
Less amounts classified as cash equivalents |  |  | (61,103 | ) |  |  | - |  |  |  | - |  |  |  | (61,103 | )
Total marketable securities |  | $ | 189,101 |  |  | $ | 10 |  |  | $ | (117 | ) |  | $ | 188,994 |
|  | December 31, 2022 |
|  | Amortized Cost Basis |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
Money market funds |  | $ | 36,486 |  |  | $ | - |  |  | $ | - |  |  | $ | 36,486 |
Commercial paper |  |  | 87,140 |  |  |  | - |  |  |  | - |  |  |  | 87,140 |
Corporate debt securities |  |  | 36,554 |  |  |  | 2 |  |  |  | (127 | ) |  |  | 36,429 |
Asset-based securities |  |  | 14,026 |  |  |  | - |  |  |  | (10 | ) |  |  | 14,016 |
U.S. government securities |  |  | 91,619 |  |  |  | 8 |  |  |  | (376 | ) |  |  | 91,251 |
U.S. agency securities |  |  | 16,646 |  |  |  | - |  |  |  | (39 | ) |  |  | 16,607 |
Supranational debt securities |  |  | 16,555 |  |  |  | - |  |  |  | (74 | ) |  |  | 16,481 |
Total |  |  | 299,026 |  |  |  | 10 |  |  |  | (626 | ) |  |  | 298,410 |
Less amounts classified as cash equivalents |  |  | (43,318 | ) |  |  | (2 | ) |  |  | - |  |  |  | (43,320 | )
Total marketable securities |  | $ | 255,708 |  |  | $ | 8 |  |  | $ | (626 | ) |  | $ | 255,090 |
There were $68.5 million and $139.5 million of investments in an unrealized loss position of $0.1 million and $0.6 million as of March 31, 2023 and December 31, 2022, respectively. During the three months ended March 31, 2023 and 2022, the Company did no t record any other-than-temporary impairment charges on its available-for-sale securities. Based on the Company’s procedures under the expected credit loss model, including an assessment of unrealized losses on the portfolio after March 31, 2023 and 2022, the Company concluded that the unrealized losses for its marketable securities were not attributable to credit and therefore an allowance for credit losses for these securities has not been recorded as of March 31, 2023 and 2022. Also, based on the scheduled maturities of the investments, the Company was more likely than not to hold these investments for a period of time sufficient for a recovery of the Company’s cost basis. The Company recognized no material gains or losses on its cash equivalents and current and non-current marketable securities as of March 31, 2023 and December 31, 2022 and as a result, the Company did not reclassify any amounts out of accumulated other comprehensive income (loss) for the period then ended.

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

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 https://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