XML 36 R12.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Cash Equivalents and Marketable Securities
6 Months Ended
Jun. 30, 2024
Cash Equivalents and Marketable Securities  
Cash Equivalents and Marketable Securities

Note 5. Cash Equivalents and Marketable Securities

Cash equivalents and marketable securities consisted of the following (in thousands):

June 30, 2024

Amortized

Gross Unrealized

 

    

Cost

    

Gains

    

Losses

    

Fair Value

Money market funds

$

110,705

$

$

$

110,705

Certificates of deposit

20,622

7

(4)

 

20,625

U.S. Treasury and agency securities

168,160

37

(21)

168,176

Commercial paper

 

231,791

(133)

 

231,658

Corporate debt securities

56,652

10

(34)

56,628

Total cash equivalents and marketable securities

$

587,930

$

54

  

$

(192)

$

587,792

Classified as:

  

  

  

Cash equivalents

  

  

  

$

347,991

Marketable securities - current

  

  

  

 

208,354

Marketable securities - noncurrent

  

  

  

 

31,447

Total cash equivalents and marketable securities

  

  

  

$

587,792

December 31, 2023

Amortized

Gross Unrealized

 

    

Cost

    

Gains

    

Losses

    

Fair Value

Money market funds

$

19,212

$

  

$

$

19,212

Certificates of deposit

12,998

6

 

13,004

U.S. Treasury and agency securities

145,024

63

(2)

145,085

Commercial paper

 

130,351

 

5

  

 

(60)

 

130,296

Corporate debt securities

7,678

 

  

 

(6)

 

7,672

Total cash equivalents and marketable securities

$

315,263

$

74

  

$

(68)

$

315,269

Classified as:

  

  

  

Cash equivalents

  

  

  

$

160,379

Marketable securities

  

  

  

 

154,890

Total cash equivalents and marketable securities

  

  

  

$

315,269

All of the Company’s marketable securities are classified as available-for-sale. Marketable securities of $208.4 million and $154.9 million held as of June 30, 2024 and December 31, 2023, respectively, had contractual maturities of

less than one year. Marketable securities of $31.4 million held as of June 30, 2024 had contractual maturities of at least one year but no more than two years. The Company does not intend to sell its securities that are in an unrealized loss position, and it is not more likely than not that the Company will be required to sell its securities before recovery of their amortized cost basis, which may be at maturity. There were no material realized gains or realized losses on marketable securities for the periods presented. The Company evaluated securities with unrealized losses to determine whether such losses, if any, were due to credit-related factors and determined that there were no credit-related losses to be recognized as of June 30, 2024.