Company: TEAM
Filing Date: 2025-01-31
Form Type: 10-Q
Source: 0001650372-25-000009
Chunk: 11

Company: Atlassian Corp
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 1
Chunk 11
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in thousands):Level 1Level 2TotalAssets measured at fair valueCash and cash equivalents:Money market funds$1,563,234 $— $1,563,234 Marketable securities:U.S. treasury securities— 52,517 52,517 Agency securities— 3,199 3,199 Certificates of deposit and time deposits— 10,000 10,000 Commercial paper— 20,010 20,010 Corporate debt securities— 76,247 76,247 Derivative financial instruments— 9,292 9,292 Total assets measured at fair value$1,563,234 $171,265 $1,734,499 Liabilities measured at fair valueDerivative financial instruments$— $1,701 $1,701 Total liabilities measured at fair value$— $1,701 $1,701 Due to the short-term nature of accounts receivables, net, contract assets, accounts payable, accrued expenses, and other current liabilities, their carrying amount is assumed to approximate their fair value.Determination of Fair ValueThe Company uses quoted prices in active markets for identical assets to determine the fair value of the Company’s Level 1 investments. The fair value of the Company’s Level 2 investments is determined based on quoted market prices or alternative market observable inputs. Strategic Investments Measured and Recorded at Fair Value on a Non-Recurring BasisThe Company’s investments in privately held companies are not included in the tables above and are discussed in Note 4, “Investments.” The carrying value of the Company’s privately held equity securities are adjusted on a non-recurring basis upon observable price changes in orderly transactions for identical or similar investments of the same issuer, or impairment (referred to as the measurement alternative). Privately held equity securities that have been remeasured during the period based on observable price changes in orderly transactions are classified within Level 2 or Level 3 in the fair value hierarchy because the Company estimates the value based on valuation methods which may include a combination of the observable transaction price at the transaction date and other unobservable inputs including volatility, rights and preferences of the investments, and obligations of the securities the Company holds. The fair value of privately held equity securities that have been remeasured due to impairment are classified within Level 3. The Company’s privately held debt and equity securities amounted to $166.9 million and $148.7 million as of December 31,