Annual report pursuant to Section 13 and 15(d)

Fair Value Measurements

v3.20.4
Fair Value Measurements
12 Months Ended
Dec. 31, 2020
Fair Value Disclosures [Abstract]  
Fair Value Measurements Fair Value Measurements
Financial assets measured at fair value on a recurring basis are classified in one of the three categories described below:
Level 1 - Valuations based on unadjusted quoted prices for identical assets in an active market
Level 2 - Valuations based on quoted prices in markets where trading occurs infrequently or whose values are based on quoted prices of instruments with similar attributes in active markets
Level 3 - Valuations based on inputs that are unobservable and involve management judgment and our own assumptions about market participants and pricing
The following tables summarize our financial assets measured at fair value on a recurring basis as of December 31, 2020 and 2019 (in thousands):
    Fair Value Measurement at Reporting Date Using
 
 
 
 
Description
December 31, 2020 Quoted Prices in
Active Markets
 for Identical
 Assets
(Level 1)
Significant
Other
Observable
Inputs
(Level 2)
Significant
Unobservable
 Inputs
(Level 3)
Cash and cash equivalents $ 443,552  $ 443,552  $ —  $ — 
Total $ 443,552  $ 443,552  $ —  $ — 

    Fair Value Measurement at Reporting Date Using
 
 
 
 
Description
December 31, 2019 Quoted Prices in
 Active Markets
for Identical
Assets
(Level 1)
Significant
Other
Observable
 Inputs
(Level 2)
Significant
Unobservable
 Inputs
(Level 3)
Cash and cash equivalents $ 156,307  $ 156,307  $ —  $ — 
Total $ 156,307  $ 156,307  $ —  $ —