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Balance Sheet Account Details
 12 Months Ended
Dec. 31, 2021
Other Balance Sheet Details [Abstract]  
Balance Sheet Account Details Balance Sheet Account DetailsShort-term Investments
Excluding our investments in Viking, the following table summarizes the various investment categories at December 31, 2021 and 2020 (in thousands):
Cost
Gross unrealized
gains
Gross unrealized
losses
Estimated
fair value
December 31, 2021
Short-term investments
Mutual Fund$152,136 $— $(249)$151,887 
Bank deposits63,389 13 (21)63,381 
     Commercial paper36,008 2 (12)35,998 
Corporate bonds29,308 17 (38)29,287 
Corporate equity securities5,807 402 (2,027)4,182 
U.S. government securities5,577 — (23)5,554 
Warrants— 408 — 408 
$292,225 $842 $(2,370)$290,697 
December 31, 2020
Short-term investments
     Mutual fund$151,512 386 $— $151,898 
     Bank deposits84,120 35 (1)$84,154 
     Commercial paper 45,459 27 (1)$45,485 
     Corporate bonds30,512 99 (1)$30,610 
     Agency bonds4,499 2 — $4,501 
     Corporate equity securities4,466 360 (1,388)$3,438 
     Treasury bills3,999 — — $3,999 
     Warrants— 393 — $393 
$324,567 $1,302 $(1,391)$324,478 

Gain (loss) from short-term investments on our consolidated statements of operations includes both realized and unrealized gain (loss) from our short-term investments in public equity and warrant securities, and realized gain (loss) from available-for-sale debt securities.

The following table summarizes our available-for-sale debt securities by contractual maturity (in thousands):
December 31, 2021
Amortized CostFair Value
Within one year$111,334 $111,315 
After one year through five years24,952 24,909 
After five years— — 
     Total$136,286 $136,224 


The following table summarizes our available-for-sale debt securities in an unrealized loss position (in thousands):
Less than 12 months12 months or greaterTotal
Gross
Unrealized
Losses		Estimated
Fair Value		Gross
Unrealized
Losses		Estimated
Fair Value		Gross
Unrealized
Losses		Estimated
Fair Value
December 31, 2021
Bank deposits$(13)$20,008 $— $— $(13)$20,008 
Corporate bonds(15)27,252 (5)2,996 (20)30,248 
Commercial paper(6)6,689 (32)10,125 (38)16,814 
U.S. Government Securities— — (23)5,553 (23)5,553 
     Total$(34)$53,949 $(60)$18,674 $(94)$72,623 
December 31, 2020
Bank deposits$(1)$14,013 $— $— $(1)$14,013 
Corporate bonds(1)4,526 — — (1)4,526 
Commercial paper(1)7,693 — — (1)7,693 
     Total$(3)$26,232 $— $— $(3)$26,232 

Our investment policy is capital preservation and we only invested in U.S.-dollar denominated investments. We held a total of 55 positions which were in an unrealized loss position as of December 31, 2021. We believe that we will collect the principal and interest due on our debt securities that have an amortized cost in excess of fair value. The unrealized losses are largely due to changes in interest rates and not to unfavorable changes in the credit quality associated with these securities that impacted our assessment on collectability of principal and interest. We do not intend to sell these securities nor do we believe that we will be required to sell these securities before the recovery of the amortized cost basis. Accordingly, no credit losses were recognized for the twelve months ended December 31, 2021.

Property and equipment are stated at cost and consists of the following (in thousands):
December 31,
20212020
Lab and office equipment$20,183 $14,666 
Leasehold improvements7,983 3,519 
Computer equipment and software1,056 1056 
29,222 19,241 
Less accumulated depreciation and amortization(8,711)(4,807)
$20,511 $14,434 
Depreciation of equipment is computed using the straight-line method over the estimated useful lives of the assets which ranges from three to ten years. Leasehold improvements are amortized using the straight-line method over their estimated useful lives or their related lease term, whichever is shorter. Depreciation expense of $3.9 million, $1.8 million, and $1.5 million was recognized for the twelve months ended December 31, 2021, 2020, and 2019, respectively, and was included in operating expenses.
Goodwill and identifiable intangible assets consist of the following (in thousands):
December 31,
20212020
Indefinite-lived intangible assets
     Goodwill$181,206 $189,662 
Definite-lived intangible assets
     Complete technology280,617 277,740 
          Less: Accumulated amortization(78,991)(63,600)
     Trade name2,642 2,642 
          Less: Accumulated amortization(1,444)(1,312)
     Customer relationships40,700 40,700 
          Less: Accumulated amortization(18,267)(15,597)
     Contractual relationships362,000 362,000 
Less: Accumulated amortization(36,217)(7,243)
Total goodwill and other identifiable intangible assets, net$732,246 $784,992 

Amortization of finite-lived intangible assets is computed using the straight-line method over the estimated useful life of the asset of up to 20 years. Amortization expense of $47.2 million, $23.4 million, and $16.9 million was recognized for the years ended December 31, 2021, 2020, and 2019, respectively. Estimated amortization expense for the years ending December 31, 2022 through 2026 is $47.0 million per year. For each of the years ended December 31, 2021, 2021, and 2019, there was no material impairment of intangible assets with finite lives.


Accrued liabilities consist of the following (in thousands):
 December 31,
 20212020
Compensation$6,532 $8,810 
Professional fees2,046 977 
Amounts owed to former licensees630 421 
Royalties owed to third parties149 693 
Return reserve and customer refunds2,420 687 
Acquisition related liabilities1,000 1,500 
Subcontractor1,759 733 
Supplier848 604 
Other2,195 4,105 
$17,579 $18,530 

Contingent liabilities:

In connection with the acquisition of Crystal in October 2017, we entered into contingent liabilities based on achievement of certain research and business milestones as well as certain revenue goal.

In connection with the acquisition of CyDex in January 2011, we issued a series of CVRs and also assumed certain contingent liabilities. We may be required to make additional payments upon achievement of certain clinical and regulatory milestones to the CyDex shareholders and former license holders.

In connection with the acquisition of Metabasis in January 2010, we entered into four CVR agreements with Metabasis shareholders. The CVRs entitle the holders to cash payments as frequently as every six months as proceeds are received by us upon the sale or licensing of any of the Metabasis drug development programs and upon the achievement of specified milestones.
For CVRs associated with the Pfenex and Icagen acquisitions, see “Note (4), Acquisitions” for more information.

The following table summarizes roll-forward of contingent liabilities as of December 2021 and 2020 (in thousands):
December 31, 2019Additional Contingent LiabilitiesPaymentsFair Value AdjustmentRepurchasesDecember 31, 2020PaymentsFair Value AdjustmentRepurchasesDecember 31, 2021
Cydex$348 $— $— $160 $— $508 $(50)$(108)$— $350 
Metabasis5,935 — — (1,867)(247)3,821 — (464)— 3,357 
Crystal2,659 — (1,800)(59)— 800 — (800)— — 
Icagen— 4,800 (525)2,129 — 6,404 (1,050)2,010 — 7,364 
Pfenex— 37,000 — 600 — 37,600 — (37,600)— — 
xCella— — — — — — (720)720 — — 
Total $8,942 $41,800 $(2,325)$963 $(247)$49,133 $(1,820)$(36,242)$— $11,071