Quarterly report pursuant to Section 13 or 15(d)

Fair value measurements

v3.20.1
Fair value measurements
3 Months Ended
Mar. 31, 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 March 31, 2020 are as follows (in thousands):

Fair value measurements using

March 31, 

Level 1

Level 2

Level 3

     

2020

    

    

    

Assets:

Corporate debt securities

 

$

108,002

 

$

108,002

 

 

Treasury bills

1,998

1,998

 

$

110,000

 

$

108,002

 

$

1,998

 

$

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.