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Fair Value Measurements (Tables) | 6 Months Ended
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Jun. 30, 2020
Fair Value Disclosures [Abstract] |
Summary of Financial Assets Measured at Fair Value on Recurring Basis | The following tables set forth our financial assets as of June 30, 2020 and December 31, 2019 that are measured at fair value on a recurring basis during the period:
| June 30, 2020 |
| Cost or Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Total Estimated Fair Value |
| (in thousands) |
Cash | $ | 1,189,011 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,189,011 |
Level 1 securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government securities |  | 1,263,863 |  |  |  | 1,735 |  |  |  | (46 | ) |  |  | 1,265,552 |
U.S. government agency securities |  | 339,231 |  |  |  | 111 |  |  |  | (63 | ) |  |  | 339,279 |
Level 2 securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | 22,407 |  |  |  | 14 |  |  |  | — |  |  |  | 22,421 |
Commercial paper |  | 8,389 |  |  |  | — |  |  |  | — |  |  |  | 8,389 |
Certificates of deposit |  | 4,917 |  |  |  | — |  |  |  | — |  |  |  | 4,917 |
Total | $ | 2,827,818 |  |  | $ | 1,860 |  |  | $ | (109 | ) |  | $ | 2,829,569 |
| December 31, 2019 |
| Cost or Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Total Estimated Fair Value |
| (in thousands) |
Cash | $ | 416,099 |  |  | $ | — |  |  | $ | — |  |  | $ | 416,099 |
Level 1 securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
U.S. government securities |  | 1,305,145 |  |  |  | 604 |  |  |  | (49 | ) |  |  | 1,305,700 |
U.S. government agency securities |  | 269,278 |  |  |  | 48 |  |  |  | (32 | ) |  |  | 269,294 |
Level 2 securities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | 28,420 |  |  |  | 13 |  |  |  | (4 | ) |  |  | 28,429 |
Commercial paper |  | 84,498 |  |  |  | — |  |  |  | — |  |  |  | 84,498 |
Certificates of deposit |  | 8,785 |  |  |  | — |  |  |  | — |  |  |  | 8,785 |
Total | $ | 2,112,225 |  |  | $ | 665 |  |  | $ | (85 | ) |  | $ | 2,112,805 |

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- 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://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
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