Quarterly report pursuant to Section 13 or 15(d)

Fair value measurements

v3.20.2
Fair value measurements
6 Months Ended
Jun. 30, 2020
Fair value measurements  
Fair value measurements

Note 6 Fair value measurements

Assets and liabilities measured at fair value on a recurring basis based on Level 1, Level 2, and Level 3 fair value measurement criteria as of June 30, 2020 are as follows (in thousands):

Fair value measurements using

June 30, 

Level 1

Level 2

Level 3

     

2020

    

    

    

Assets:

Corporate debt securities

 

$

288,632

 

$

288,632

 

 

Agency bonds

5,997

5,997

Treasury bills

2,000

2,000

 

$

296,629

 

$

288,632

 

$

7,997

 

$

The Company estimates the fair value of available-for-sale debt securities with the aid of a third party valuation service, which uses actual trade and indicative prices sourced from third-party providers on a daily basis to estimate the fair value. If observed market prices are not available (for example securities with short maturities and infrequent secondary market trades), the securities are priced using a valuation model maximizing observable inputs, including market interest rates.