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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Financial Instruments Measured at Fair Value on Recurring Basis The following table sets forth the Company’s financial instruments that were measured at fair value on a recurring basis, by level, within the fair value hierarchy (in thousands):

 

Balance as of December 31, 2019

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds (i)

 

$

52,359

 

 

$

 

 

$

 

 

$

52,359

 

Agency bonds (iii)

 

 

 

 

 

17,246

 

 

 

 

 

 

17,246

 

Commercial paper (iii)

 

 

 

 

 

12,449

 

 

 

 

 

 

12,449

 

Corporate notes (iii)

 

 

 

 

 

142,734

 

 

 

 

 

 

142,734

 

Total assets

 

$

52,359

 

 

$

172,429

 

 

$

 

 

$

224,788

 

 

Balance as of December 31, 2018

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds (i)

 

$

15,572

 

 

$

 

 

$

 

 

$

15,572

 

Commercial paper (ii)

 

 

 

 

 

119,602

 

 

 

 

 

 

119,602

 

Corporate notes (ii)

 

 

 

 

 

111,532

 

 

 

 

 

 

111,532

 

Total assets

 

$

15,572

 

 

$

231,134

 

 

$

 

 

$

246,706

 

 

(i)

Included in cash and cash equivalents on the consolidated balance sheets.

(ii)

Included in either cash and cash equivalents or short-term investments on the consolidated balance sheets.

(iii)

Included in short-term investments on the consolidated balance sheets.