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Fair Value of Financial Instruments (Tables)
 6 Months Ended
Jun. 30, 2023
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):
June 30, 2023
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds $799,282 $— $— $799,282 
Commercial paper — 109,455 — 109,455 
Marketable securities:
Corporate bonds — 324,087 — 324,087 
Commercial paper — 238,974 — 238,974 
U.S. treasury securities 206,302 — — 206,302 
Certificates of deposit — 188,305 — 188,305 
U.S. agency bonds— 123,040 — 123,040 
Non-U.S. government and supranational bonds— 19,210 — 19,210 
Municipal securities— 15,638 — 15,638 
Prepaid expenses and other current assets:
Certificates of deposit — 2,243 — 2,243 
Other assets:
Certificates of deposit $— $4,353 $— $4,353 
December 31, 2022
Level 1Level 2Level 3Total
Cash equivalents:
Money market funds $1,017,191 $— $— $1,017,191 
Commercial paper— 111,975 — 111,975 
Corporate bonds— 1,542 — 1,542 
U.S. treasury securities5,990 — — 5,990 
Marketable securities:
Corporate bonds — 363,075 — 363,075 
Commercial paper— 241,192 — 241,192 
U.S. treasury securities242,916 — — 242,916 
Certificates of deposit— 158,246 — 158,246 
Municipal securities— 27,449 — 27,449 
Non-U.S. government and supranational bonds— 22,599 — 22,599 
U.S. agency bonds— 31,687 — 31,687 
Prepaid expenses and other current assets:
Certificates of deposit — 1,067 — 1,067 
Other assets:
Certificates of deposit $— $5,530 $— $5,530 
Fair Value of Marketable Securities by Contractual Maturity
The fair value of our marketable securities by contractual maturity is as follows (in thousands):
June 30, 2023
Due in one year or less $849,183 
Due after one to five years 266,373 
Total $1,115,556