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Cash, Cash Equivalents and Investments (Tables)
12 Months Ended
Dec. 31, 2021
Cash, Cash Equivalents and Investments  
Cash, cash equivalents and investments

Our cash and cash equivalents consist of cash and instruments with original maturities of less than three months. Our investments consist of instruments with original maturities of more than three months. As of December 31, 2021 and 2020, our cash, cash equivalents and debt investments are classified as follows (in thousands):

December 31, 2021

December 31, 2020

 

    

    

Gross

    

Gross

    

    

    

Gross

    

Gross

    

 

Amortized

Unrealized

Unrealized

Fair

Amortized

Unrealized

Unrealized

Fair

 

    

Cost

    

Gain

    

(Loss)

    

Value

    

Cost

    

Gain

    

(Loss)

    

Value

 

Classified as:

Cash

$

36,763

$

$

$

36,763

$

72,602

$

$

$

72,602

Cash equivalents:

Certificates of deposit 1

Total cash and cash equivalents

 

36,763

 

 

 

36,763

 

72,602

 

 

 

72,602

Investments (available-for-sale):

Certificates of deposit 2

 

6,680

 

(19)

 

6,661

 

2,880

 

5

 

2,885

Corporate bonds

 

8,380

 

 

(46)

 

8,334

 

3,083

 

 

(2)

 

3,081

Total investments

 

15,060

 

 

(65)

 

14,995

 

5,963

 

5

 

(2)

 

5,966

Total cash, cash equivalents and investments

$

51,823

$

$

(65)

$

51,758

$

78,565

$

5

$

(2)

$

78,568

Contractual maturities on investments:

Due within 1 year 3

$

5,424

$

5,419

$

240

$

240

Due after 1 through 5 years 4

 

9,636

 

9,576

 

5,723

 

5,726

$

15,060

$

14,995

$

5,963

$

5,966

1.Certificate of deposit with original maturities of less than three months.
2.Certificate of deposit with original maturities of more than three months.
3.Classified as “Short-term investments” in our consolidated balance sheets.
4.Classified as “Long-term investments” in our consolidated balance sheets.

Fair value and gross unrealized losses related to available-for-sale securities

The following table summarizes the fair value and gross unrealized losses related to available-for-sale debt securities, aggregated by investment category and length of time that individual debt securities have been in a continuous unrealized loss position as of December 31, 2021 (in thousands):

In Loss Position

In Loss Position

Total In

 

< 12 months

> 12 months

Loss Position

 

Gross

Gross

Gross

 

Fair

Unrealized

Fair

Unrealized

Fair

Unrealized

 

As of December 31, 2021

    

Value

    

(Losses)

    

Value

    

(Losses)

    

Value

    

(Losses)

 

Investments:

Certificates of deposit

$

6,181

$

(19)

$

$

$

6,181

$

(19)

Corporate bonds

 

5,970

 

(42)

 

2,013

 

(4)

 

7,983

(46)

Total in loss position

$

12,151

$

(61)

$

2,013

$

(4)

$

14,164

$

(65)

The following table summarizes the fair value and gross unrealized losses related to available-for-sale debt securities, aggregated by investment category and length of time that individual debt securities have been in a continuous unrealized loss position as of December 31, 2020 (in thousands):

In Loss Position

In Loss Position

Total In

 

< 12 months

> 12 months

Loss Position

 

    

    

    

Gross

    

    

    

Gross

    

    

    

Gross

 

Fair

Unrealized

Fair

Unrealized

Fair

Unrealized

 

As of December 31, 2020

Value

(Loss)

Value

(Loss)

Value

(Loss)

 

Investments:

Corporate bonds

 

2,048

 

(2)

 

 

 

2,048

(2)

Total in loss position

$

2,048

$

(2)

$

$

$

2,048

$

(2)

Summary of financial assets and liabilities measured at fair value on a recurring basis

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis in accordance with ASC 820 as of December 31, 2021 (in thousands):

    

    

Quoted Prices in

    

Significant

 

Active Markets of

Significant Other

Unobservable

 

Balance as of

Identical Assets

Observable Inputs

Inputs

 

    

December 31, 2021

    

(Level 1)

    

(Level 2)

    

(Level 3)

 

Assets:

Cash equivalents and investments:

Certificates of deposit

$

6,661

$

$

6,661

$

Corporate bonds

 

8,334

 

 

8,334

 

Total

$

14,995

$

$

14,995

$

The following table summarizes our financial assets and liabilities measured at fair value on a recurring basis in accordance with ASC 820 as of December 31, 2020 (in thousands):

    

    

Quoted Prices in

    

Significant

 

Active Markets of

Significant Other

Unobservable

 

Balance as of

Identical Assets

Observable Inputs

Inputs

 

    

December 31, 2020

    

(Level 1)

    

(Level 2)

    

(Level 3)

 

Assets:

Cash equivalents and investments:

Certificates of deposit

$

2,885

$

$

2,885

$

Corporate bonds

 

3,081

 

 

3,081

 

Total

$

5,966

$

$

5,966

$