XML 39 R29.htm IDEA: XBRL DOCUMENT v3.23.2
Fair Value Measurements (Tables)
6 Months Ended
Jun. 30, 2023
Fair Value Disclosures [Abstract]  
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