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Fair Value of Financial Instruments (Tables)
 9 Months Ended
Sep. 30, 2020
Fair Value Disclosures [Abstract]  
Fair Values of Financial Instruments Measured on a Recurring Basis
The fair values of the financial instruments we measure at fair value on a recurring basis are as follows (in thousands):
September 30, 2020
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds $316,736 $— $— $316,736 
Commercial paper — 78,479 — 78,479 
Certificates of deposit— 12,010 — 12,010 
Corporate bonds— 3,347 — 3,347 
Marketable securities:
Corporate bonds — 415,998 — 415,998 
U.S. treasury securities 271,930 — — 271,930 
Commercial paper — 169,619 — 169,619 
Certificates of deposit — 73,213 — 73,213 
Asset-backed securities — 33,655 — 33,655 
U.S. agency bonds— 15,992 — 15,992 
Non-U.S. government and supranational bonds— 15,985 — 15,985 
Prepaid expenses and other current assets:
Certificates of deposit — 1,470 — 1,470 
Restricted cash:
Certificates of deposit $— $9,221 $— $9,221 
December 31, 2019
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds $214,413 $— $— $214,413 
Commercial paper— 105,354 — 105,354 
Corporate bonds— 3,791 — 3,791 
Certificates of deposit— 2,914 — 2,914 
Marketable securities:
Corporate bonds — 450,433 — 450,433 
U.S. treasury securities 201,640 — — 201,640 
Commercial paper — 196,328 — 196,328 
Asset-backed securities — 114,599 — 114,599 
Certificates of deposit — 100,679 — 100,679 
Prepaid expenses and other current assets:
Certificates of deposit — 2,738 — 2,738 
Restricted cash:
Certificates of deposit $— $25,339 $— $25,339 
Fair Value of Marketable Securities by Contractual Maturity
The fair value of our marketable securities by contractual maturity is as follows (in thousands):
September 30, 2020
Due in one year or less $731,474 
Due after one to five years 264,918 
Total $996,392