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Fair Value of Financial Instruments (Tables)
12 Months Ended
Dec. 31, 2022
Fair Value Disclosures [Abstract]  
Summary of marketable securities portfolio The following is a summary of our marketable security portfolio for the periods presented (in thousands):
Amortized
Cost
Net
Unrealized
Losses
Estimated
Fair Value
December 31, 2022
Debt securities (government)$292,580$(5,037)$287,543
December 31, 2021
Debt securities (government)$291,871$(1,119)$290,752
Schedule of fair value of assets measured on recurring basis
The following fair value hierarchy table presents information about each major category of our financial assets measured at fair value on a recurring basis (in thousands):
Fair Value Measurement at Reporting Date Using:
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balance as of
December 31, 2022
Cash and cash equivalents$2,951,422$$$2,951,422
Debt securities (government)287,543287,543
Long term investments (Note 7)
133,676133,676
Total assets$3,085,098$287,543$$3,372,641
Fair Value Measurement at Reporting Date Using:
Quoted Prices in
Active Markets for
Identical Assets
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balance as of
December 31, 2021
Cash and cash equivalents$2,057,440$$$2,057,440
Debt securities (government)290,752290,752
Long term investments (Note 7)
221,266221,266
Total assets$2,278,706$290,752$$2,569,458
Schedule of fair value of liabilities measured on recurring basis
The following fair value hierarchy table presents information about each major category of our financial liabilities measured at fair value on a recurring basis (in thousands):
Fair Value Measurement at Reporting Date Using:
Quoted Prices in
Active Markets for
Identical Liabilities
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balance as of
December 31, 2022
Acquisition-related contingent consideration$— $— $221,000 $221,000 
Total liabilities$— $— $221,000 $221,000 
Fair Value Measurement at Reporting Date Using:
Quoted Prices in
Active Markets for
Identical Liabilities
(Level 1)
Significant Other
Observable
Inputs
(Level 2)
Significant
Unobservable
Inputs
(Level 3)
Balance as of
December 31, 2021
Acquisition-related contingent consideration$$$244,000$244,000
Total liabilities$$$244,000$244,000
Schedule of roll forward of Level 3 liabilities
The following is a roll forward of our Level 3 liabilities (in thousands):
20222021
Balance at January 1, $244,000$266,000
Contingent consideration earned during the period but not yet paid(9,286)(19,583)
Payments made during the period(25,863)(17,158)
Change in fair value of contingent consideration12,14914,741
Balance at December 31,
$221,000$244,000