Summary of Fair Value by Balance Sheet Grouping |
The following table presents information about the Company’s financial instruments that are measured at fair value on a recurring basis:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
June 30, 2023 |
|
|
|
Fair Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
|
(in thousands) |
|
Financial Assets: |
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
19,569 |
|
|
$ |
19,569 |
|
|
$ |
— |
|
Commercial paper |
|
|
993 |
|
|
|
— |
|
|
|
993 |
|
Cash equivalents |
|
|
20,562 |
|
|
|
19,569 |
|
|
|
993 |
|
Bank deposits |
|
|
105,205 |
|
|
|
— |
|
|
|
105,205 |
|
Certificates of deposit |
|
|
2,402 |
|
|
|
— |
|
|
|
2,402 |
|
Commercial paper |
|
|
33,833 |
|
|
|
— |
|
|
|
33,833 |
|
Corporate debt securities |
|
|
129,270 |
|
|
|
— |
|
|
|
129,270 |
|
Municipal securities |
|
|
35,213 |
|
|
|
— |
|
|
|
35,213 |
|
Government and agency debt |
|
|
117,177 |
|
|
|
— |
|
|
|
117,177 |
|
Short-term investments |
|
|
423,100 |
|
|
|
— |
|
|
|
423,100 |
|
Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets |
|
|
34 |
|
|
|
— |
|
|
|
34 |
|
Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets |
|
|
251 |
|
|
|
— |
|
|
|
251 |
|
Restricted bank deposits included in prepaid expenses and other current assets |
|
|
12 |
|
|
|
— |
|
|
|
12 |
|
Total financial assets |
|
$ |
443,959 |
|
|
$ |
19,569 |
|
|
$ |
424,390 |
|
Financial Liabilities: |
|
|
|
|
|
|
|
|
|
Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities |
|
$ |
1,524 |
|
|
$ |
— |
|
|
$ |
1,524 |
|
Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities |
|
|
505 |
|
|
|
— |
|
|
|
505 |
|
Total financial liabilities |
|
$ |
2,029 |
|
|
$ |
— |
|
|
$ |
2,029 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
December 31, 2022 |
|
|
|
Fair Value |
|
|
Level 1 |
|
|
Level 2 |
|
|
|
(in thousands) |
|
Financial Assets: |
|
|
|
|
|
|
|
|
|
Money market funds |
|
$ |
9,562 |
|
|
$ |
9,562 |
|
|
$ |
— |
|
Cash equivalents |
|
|
9,562 |
|
|
|
9,562 |
|
|
|
— |
|
Bank deposits |
|
|
96,034 |
|
|
|
— |
|
|
|
96,034 |
|
Certificates of deposit |
|
|
2,153 |
|
|
|
— |
|
|
|
2,153 |
|
Commercial paper |
|
|
38,029 |
|
|
|
— |
|
|
|
38,029 |
|
Corporate debt securities |
|
|
136,373 |
|
|
|
— |
|
|
|
136,373 |
|
Municipal securities |
|
|
38,344 |
|
|
|
— |
|
|
|
38,344 |
|
Government and agency debt |
|
|
86,672 |
|
|
|
— |
|
|
|
86,672 |
|
Short-term investments |
|
|
397,605 |
|
|
|
— |
|
|
|
397,605 |
|
Foreign currency contracts designated as hedging instruments included in prepaid expenses and other current assets |
|
|
20 |
|
|
|
— |
|
|
|
20 |
|
Foreign currency contracts not designated as hedging instruments included in prepaid expenses and other current assets |
|
|
21 |
|
|
|
— |
|
|
|
21 |
|
Restricted bank deposits included in prepaid expenses and other current assets |
|
|
12 |
|
|
|
— |
|
|
|
12 |
|
Total financial assets |
|
$ |
407,220 |
|
|
$ |
9,562 |
|
|
$ |
397,658 |
|
Financial Liabilities: |
|
|
|
|
|
|
|
|
|
Foreign currency contracts designated as hedging instruments included in accrued expenses and other current liabilities |
|
$ |
1,098 |
|
|
$ |
— |
|
|
$ |
1,098 |
|
Foreign currency contracts not designated as hedging instruments included in accrued expenses and other current liabilities |
|
|
379 |
|
|
|
— |
|
|
379 |
|
Total financial liabilities |
|
$ |
1,477 |
|
|
$ |
— |
|
|
$ |
1,477 |
|
|