Investments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2023

Schedule of Company's Recurring Financial Assets and Liabilities Subject to Fair Value Measurements

The Company’s financial assets and liabilities subject to fair value measurements were as follows:


	Fair Value Measurements as of March 31, 2023
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds (1)	$	211,828	$	211,828	$	—	$	—

Commercial paper (1)	55,173		—		55,173		—



Money market funds securing legal bonds (2)	24,000		24,000		—		—

Investment securities at fair value
Equity securities at fair value
Marketable equity securities	12,973		12,973		—		—
Mutual funds invested in debt securities	22,438		22,438		—		—
Total equity securities at fair value	35,411		35,411		—		—
Debt securities available for sale
U.S. government securities	788		—		788		—
Corporate securities	30,593		—		30,593		—
U.S. government and federal agency	26,235		—		26,235		—



Index-linked U.S. bonds	14,008		—		14,008		—


Total debt securities available for sale	71,624		—		71,624		—

Total investment securities at fair value	107,035		35,411		71,624		—

Long-term investments
Long-term investment securities at fair value (3)	29,177		—		—		—

Total	$	427,213	$	271,239	$	126,797	$	—

(1) Amounts included in Cash and cash equivalents on the condensed consolidated balance sheets.

(2) Amounts included in non-current restricted assets on the condensed consolidated balance sheets.

(3) In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.


	Fair Value Measurements as of December 31, 2022
	Total		Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Assets:
Money market funds (1)	$	155,411	$	155,411	$	—	$	—

Commercial paper (1)	54,526		—		54,526		—



Money market funds securing legal bonds (2)	24,000		24,000		—		—

Investment securities at fair value
Equity securities at fair value
Marketable equity securities	12,724		12,724		—		—
Mutual funds invested in debt securities	22,069		22,069		—		—
Total equity securities at fair value	34,793		34,793		—		—
Debt securities available for sale
U.S. government securities	779		—		779		—
Corporate securities	53,814		—		53,814		—
U.S. government and federal agency	27,050		—		27,050		—





Total debt securities available for sale	81,643		—		81,643		—

Total investment securities at fair value	116,436		34,793		81,643		—

Long-term investments
Long-term investment securities at fair value (3)	28,919		—		—		—

Total	$	379,292	$	214,204	$	136,169	$	—

(1) Amounts included in Cash and cash equivalents on the condensed consolidated balance sheets.

(2) Amounts included in non-current restricted assets on the condensed consolidated balance sheets.

(3) In accordance with Subtopic 820-10, investments that are measured at fair value using the NAV practical expedient are not classified in the fair value hierarchy.

Schedule of Investment in Real Estate Ventures Subject to Nonrecurring Fair Value Measurements

The Company’s investment in real estate ventures subject to nonrecurring fair value measurements are as follows:


			Fair Value Measurement Using:
	Three months ended March 31, 2023				Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Description	Impairment Charge		Total

Assets:
Investments in real estate ventures	$	1,202	$	—	$	—	$	—	$	—

The Company’s investments in real estate ventures subject to nonrecurring fair value measurements are as follows:


			Fair Value Measurement Using:
	Year Ended December 31, 2022				Quoted Prices in Active Markets for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
	Impairment Charge		Total

Assets:
Investments in real estate ventures	$	490	$	—	$	—	$	—	$	—

- Definition

Tabular disclosure of financial instruments measured at fair value, including those classified in shareholders' equity measured on a recurring or nonrecurring basis. Disclosures include, but are not limited to, fair value measurements recorded and the reasons for the measurements, level within the fair value hierarchy in which the fair value measurements are categorized and transfers between levels 1 and 2. Nonrecurring fair value measurements are those that are required or permitted in the statement of financial position in particular circumstances.

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