XML 38 R26.htm IDEA: XBRL DOCUMENT v3.25.1

Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2025

Fair Value Disclosures [Abstract]

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

The following tables provide the financial assets measured at fair value on a recurring basis:

						Amortized Cost or Carrying Value						Gross Unrealized Gains						Gross Unrealized Losses Less Than 12 Months						Gross Unrealized Losses More Than 12 Months						Fair Value Hierarchy as of March 31, 2025																		Aggregate Fair Value
																														Level 1						Level 2						Level 3
Financial Assets:						(In thousands)
Cash and cash equivalents:
Money market funds						$	216,560					$	—					$	—					$	—					$	216,560					$	—					$	—					$	216,560
Commercial paper						6,752						—						—						—						—						6,752						—						6,752
U.S. Treasury bills						22,995						—						—						—						22,995						—						—						22,995
Total included in cash     and cash equivalents						246,307						—						—						—						239,555						6,752						—						246,307
Marketable securities:
Debt securities:
U.S. Treasury securities						370,611						1,653						(8)						(31)						372,225						—						—						372,225
Non-U.S. government    securities						2,909						30						—						—						2,939						—						—						2,939
Corporate debt securities and commercial paper						1,594,751						9,337						(560)						(179)						21,049						1,582,300						—						1,603,349
Total debt securities						1,968,271						11,020						(568)						(210)						396,213						1,582,300						—						1,978,513
Equity securities						2,470						—						—						—						2,470						—						—						2,470
Total marketable    securities						1,970,741						11,020						(568)						(210)						398,683						1,582,300						—						1,980,983
Total financial assets						$	2,217,048					$	11,020					$	(568)					$	(210)					$	638,238					$	1,589,052					$	—					$	2,227,290

						Amortized Cost or Carrying Value						Gross Unrealized Gains						Gross Unrealized Losses Less Than 12 Months						Gross Unrealized Losses More Than 12 Months												Fair Value Hierarchy as of December 31, 2024																		Aggregate Fair Value
																														Level 1						Level 2						Level  3
Financial Assets:						(In thousands)
Cash and cash equivalents:
Money market funds						$	207,323					$	—					$	—					$	—											$	207,323					$	—					$	—					$	207,323
Commercial paper						15,059						—						—						—																		15,059												15,059
U.S. Treasury bills						2,748						—						—						—												2,748						—						—						2,748
Total included in cash     and cash equivalents						225,130						—						—						—												210,071						15,059						—						225,130
Marketable securities:
Debt securities:
U.S. Treasury securities						379,846						1,243						(296)						(55)												380,738						—						—						380,738
Non-U.S. government    securities						2,909						27						—						—												2,936						—						—						2,936
Corporate debt securities and    commercial paper						1,571,944						6,415						(1,594)						(557)												16,890						1,559,318						—						1,576,208
Total debt securities						1,954,699						7,685						(1,890)						(612)												400,564						1,559,318						—						1,959,882
Equity securities						3,220						—						—						—												3,220						—						—						3,220
Total marketable    securities						1,957,919						7,685						(1,890)						(612)												403,784						1,559,318						—						1,963,102
Total financial assets						$	2,183,049					$	7,685					$	(1,890)					$	(612)											$	613,855					$	1,574,377					$	—					$	2,188,232

Schedule of contractual maturities of marketable securities

The following table summarizes the contractual maturities of debt securities:

						As of March 31,												As of December 31,
						2025												2024
						Amortized Cost						Aggregate Fair Value						Amortized Cost						Aggregate Fair Value
Financial Assets:						(In thousands)
Less than one year						$	783,522					$	785,570					$	684,294					$	685,091
One to three years						1,184,749						1,192,943						1,270,405						1,274,791
Total						$	1,968,271					$	1,978,513					$	1,954,699					$	1,959,882

X

- Definition

Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3).

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

+ Details

Name:	us-gaap_FairValueAssetsMeasuredOnRecurringBasisTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_FairValueDisclosuresAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of maturities of an entity's investments as well as any other information pertinent to the investments.

+ References

No definition available.

+ Details

Name:	us-gaap_InvestmentsClassifiedByContractualMaturityDateTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	dtr-types:textBlockItemType
Balance Type:	na
Period Type:	duration