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Significant Accounting Policies (Tables)
6 Months Ended
Jun. 30, 2021
Accounting Policies [Abstract]  
Summary of Impact of Accounts Receivable Reserves on Gross Trade Accounts Receivable Balances

The following table summarizes the impact of accounts receivable reserves on the gross trade accounts receivable balances as of June 30, 2021 and December 31, 2020:

 

In thousands

 

June 30, 2021

 

 

December 31, 2020

 

Gross trade accounts receivable

 

$

240,747

 

 

$

203,875

 

Trade allowances

 

 

(42,344

)

 

 

(36,242

)

Chargebacks

 

 

(15,199

)

 

 

(12,114

)

Allowance for doubtful accounts

 

 

(945

)

 

 

(945

)

Accounts receivable, net

 

$

182,259

 

 

$

154,574

 

  

Calculation of Net Income (Loss) and Number of Shares Used to Compute Basic and Diluted Net Earnings (Loss) per Share

The calculation of net income (loss) and the number of shares used to compute basic and diluted net earnings (loss) per share for the three and six months ended June 30, 2021 and 2020 are as follows:

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

In thousands

 

2021

 

 

2020

 

 

2021

 

 

2020

 

Net income (loss)—basic and diluted

 

$

7,808

 

 

$

4,415

 

 

$

6,182

 

 

$

(16,138

)

Weighted average shares outstanding—basic

 

 

395,899

 

 

 

384,663

 

 

 

395,272

 

 

 

373,300

 

Effect of dilutive securities:

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

4,212

 

 

 

6,372

 

 

 

4,993

 

 

 

 

Restricted stock and restricted stock units

 

 

1,656

 

 

 

1,640

 

 

 

2,513

 

 

 

 

Preferred stock, if converted

 

 

 

 

 

6,989

 

 

 

 

 

 

 

Weighted average shares outstanding—diluted

 

 

401,767

 

 

 

399,664

 

 

 

402,778

 

 

 

373,300

 

Net earnings (loss) per share—basic

 

$

0.02

 

 

$

0.01

 

 

$

0.02

 

 

$

(0.04

)

Net earnings (loss) per share—diluted

 

$

0.02

 

 

$

0.01

 

 

$

0.02

 

 

$

(0.04

)

Anti-Dilutive Securities Not Included in the Computation of Net Loss or Earnings per Share

For the three and six months ended June 30, 2021 and 2020, the following potentially dilutive securities were not included in the computation of net earnings (loss) per share because the effect would be anti-dilutive or because performance criteria were not yet met for awards contingent upon such measures:

 

 

 

For the Three Months Ended June 30,

 

 

For the Six Months Ended June 30,

 

In thousands

 

2021

 

 

2020

 

 

2021

 

 

2020

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Stock options

 

 

10,711

 

 

 

6,131

 

 

 

10,661

 

 

 

17,178

 

Restricted stock and restricted stock units

 

 

5,772

 

 

 

4,842

 

 

 

5,242

 

 

 

7,572

 

Preferred stock (if converted)

 

 

 

 

 

 

 

 

 

 

 

5,160

 

Estimated Fair Value of Assets and Liability

The following tables present information about the estimated fair value of the Company’s assets and liabilities as of June 30, 2021 and December 31, 2020 and indicate the fair value hierarchy of the valuation techniques the Company utilized to determine such fair value:

 

 

 

June 30, 2021

 

In thousands

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Asset:

 

 

 

 

 

 

 

 

 

 

 

 

Money Market Fund

 

$

176,345

 

 

$

176,345

 

 

$

 

 

$

 

U.S. Treasury Shares

 

 

22,986

 

 

 

22,986

 

 

 

 

 

 

 

Corporate Bonds

 

 

87,225

 

 

 

 

 

 

87,225

 

 

 

 

Commercial Paper

 

 

100,460

 

 

 

 

 

 

100,460

 

 

 

 

Agency Securities

 

 

15,772

 

 

 

 

 

 

15,772

 

 

 

 

Repo Securities

 

 

9,000

 

 

 

 

 

 

9,000

 

 

 

 

Asset Backed Securities

 

 

2,867

 

 

 

 

 

 

2,867

 

 

 

 

Non-US Government

 

 

5,228

 

 

 

 

 

 

5,228

 

 

 

 

Total

 

$

419,883

 

 

$

199,331

 

 

$

220,552

 

 

$

 

 

 

 

 

December 31, 2020

 

In thousands

 

Total

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

Asset:

 

 

 

 

 

 

 

 

 

 

 

 

Money Market Fund

 

$

88,266

 

 

$

88,266

 

 

$

 

 

$

 

U.S. Treasury Shares

 

 

48,356

 

 

 

48,356

 

 

 

 

 

 

 

Corporate Bonds

 

 

179,864

 

 

 

 

 

 

179,864

 

 

 

 

Commercial Paper

 

 

106,650

 

 

 

 

 

 

106,650

 

 

 

 

Agency Securities

 

 

20,782

 

 

 

 

 

 

20,782

 

 

 

 

Repo Securities

 

 

10,000

 

 

 

 

 

 

10,000

 

 

 

 

Asset Backed Securities

 

 

8,599

 

 

 

 

 

 

8,599

 

 

 

 

Certificate of Deposit

 

 

6,125

 

 

 

 

 

 

6,125

 

 

 

 

Non-US Government

 

 

5,240

 

 

 

 

 

 

5,240

 

 

 

 

Total

 

$

473,882

 

 

$

136,622

 

 

$

337,260

 

 

$