General form of registration statement for all companies including face-amount certificate companies

FAIR VALUE MEASUREMENTS (Tables)

v3.21.2
FAIR VALUE MEASUREMENTS (Tables)
3 Months Ended 12 Months Ended
Mar. 31, 2021
Dec. 31, 2020
FAIR VALUE MEASUREMENTS    
Schedule of financial assets measured at fair value on a recurring basis

The following fair value hierarchy table presents information about the Company’s financial assets measured at fair value on a recurring basis and indicates the fair value hierarchy of the inputs the Company utilized to determine such fair value (in thousands):

March 31, 2021

Quoted Prices in

Significant

Active Markets

Other

Significant

 

for Identical

Observable

Unobservable

 

Items

Inputs

Inputs

 

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Total

Assets:

Money market funds

$

413,089

$

$

$

413,089

Commercial paper

89,835

89,835

Corporate bonds

 

 

61,012

 

61,012

U.S. Treasury securities

5,000

5,000

Other investments

3,025

3,025

Total assets

$

418,089

$

150,847

$

3,025

$

571,961

December 31, 2020

Quoted Prices in

Significant 

 Active Markets

Other

Significant

 for Identical

 Observable 

 Unobservable 

 Items

Inputs

Inputs

    

 (Level 1)

    

 (Level 2)

    

 (Level 3)

    

Total

Assets:

 

  

 

  

 

  

 

  

Money market funds

$

407,512

$

$

$

407,512

Commercial paper

119,285

119,285

Corporate bonds

 

 

47,959

 

47,959

U.S. Treasury securities

19,997

19,997

Other investments

3,000

3,000

Total assets

$

427,509

$

167,244

$

3,000

$

597,753

Liabilities:

Private placement warrants

$

$

$

93,328

$

93,328

Total liabilities

$

$

$

93,328

$

93,328

 
Schedule of financial assets and liabilities measured at fair value on a recurring basis  

The following fair value hierarchy table presents information about the Company’s financial assets and liabilities measured at fair value on a recurring basis and indicates the fair value hierarchy of the inputs the Company utilized to determine such fair value (in thousands):

December 31, 2020

(as restated)

Quoted Prices in

Significant

Active Markets

Other

Significant

 

for Identical

Observable

Unobservable

 

Items

Inputs

Inputs

 

    

(Level 1)

    

(Level 2)

    

(Level 3)

    

Total

Assets:

Money market funds

$

407,512

$

$

$

407,512

Commercial paper

119,285

119,285

Corporate bonds

 

 

47,959

 

47,959

U.S. Treasury securities

19,997

19,997

Other investments

3,000

3,000

Total assets

$

427,509

$

167,244

$

3,000

$

597,753

Liabilities:

Private placement warrants

$

$

$

93,328

$

93,328

Total liabilities

$

$

$

93,328

$

93,328

December 31, 2019

Quoted Prices in

Significant 

 Active Markets

Other

Significant

 for Identical

 Observable 

 Unobservable 

 Items

Inputs

Inputs

    

 (Level 1)

    

 (Level 2)

    

 (Level 3)

    

Total

Assets:

 

  

 

  

 

  

 

  

Money market funds

$

40,454

$

$

$

40,454

Commercial paper

19,938

19,938

Corporate bonds

 

 

48,010

 

 

48,010

Asset‑backed securities

 

 

16,806

 

 

16,806

Repurchase agreements

 

 

25,001

 

 

25,001

Total assets

$

40,454

$

109,755

$

$

150,209

Schedule of Level 3 assets measured at fair value The following table presents information about the Company’s movement in Level 3 assets measured at fair value (in thousands):

Three Months Ended March 31, 

2021

    

2020

Balance at beginning of period

$

3,000

$

Changes in fair value

25

Balance at end of period

$

3,025

$

The following table presents information about the Company’s movement in Level 3 assets measured at fair value (in thousands):

2020

2019

Balance at beginning of year

$

$

Additions

3,000

Balance at end of year

$

3,000

$

Schedule of Movement in Level 3 liabilities measured at fair value

The following table presents information about the Company’s movement in Level 3 liabilities measured at fair value (in thousands):

Three Months Ended March 31, 

2021

    

2020

Balance at beginning of period

$

93,328

$

Changes in fair value

56,576

Exercise of private placement warrants

(149,904)

Balance at end of period

$

$

2020
(as restated)

2019

Balance at beginning of year

$

$

Warrant liability assumed

149,745

Change in fair value of warrant liability

(56,417)

Balance at end of year

$

93,328

$