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

Company: Atlassian Corp
Filing Date: 2025-01-31
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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, it requires disaggregation of certain expense captions into specified categories in disclosures within the footnotes to the financial statements. This ASU is effective for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 15, 2027. The Company is currently evaluating the impact of the new guidance on its consolidated financial statements.

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Recently Adopted Accounting PronouncementsIn June 2022, the FASB issued ASU No. 2022-03 “Fair Value Measurement (Topic 820): Fair Value Measurement of Equity Securities Subject to Contractual Sale Restriction.” This ASU clarifies that a contractual restriction on the sale of an equity security is not considered part of the unit of account of the equity security and, therefore, is not considered in measuring fair value. This amendment also requires public entities to add certain disclosures for equity securities subject to contractual sale restrictions. The Company prospectively adopted this standard effective July 1, 2024. The adoption did not have a material impact on the Company’s condensed consolidated financial statements and disclosures.

3. Fair Value MeasurementsThe following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of December 31, 2024, by level within the fair value hierarchy (in thousands):Level 1Level 2TotalAssets measured at fair valueCash and cash equivalents:Money market funds$1,545,191 $— $1,545,191 Commercial paper— 992 992 Corporate debt securities— 2,483 2,483 Marketable securities:U.S. treasury securities— 92,875 92,875 Agency securities— 3,226 3,226 Certificates of deposit and time deposits— 10,000 10,000 Commercial paper— 15,248 15,248 Corporate debt securities— 130,280 130,280 Derivative financial instruments— 457 457 Total assets measured at fair value$1,545,191 $255,561 $1,800,752 Liabilities measured at fair valueDerivative financial instruments$— $40,910 $40,910 Total liabilities measured at fair value$— $40,910 $40,910 

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The following table presents the Company’s financial assets and liabilities measured at fair value on a recurring basis as of June 30, 2024, by level within the fair value hierarchy (