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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2023
Fair Value Disclosures [Abstract] |
Summary of Financial Assets Measured at Fair Value on Recurring Basis | The following tables set forth our financial assets that are measured at fair value on a recurring basis, excluding publicly traded equity securities, as of March 31, 2023 and December 31, 2022:
| March 31, 2023
| Cost or Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Total Estimated Fair Value
| (in thousands)
Cash | $ | 1,447,925 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,447,925 |
Level 1 securities: |  |  |  |  |  |  |
U.S. government securities | 1,688,325 |  |  | 3,860 |  |  | (5,149) |  |  | 1,687,036 |
U.S. government agency securities | 266,944 |  |  | 299 |  |  | (104) |  |  | 267,139 |
Level 2 securities: |  |  |  |  |  |  |
Corporate debt securities | 246,814 |  |  | 309 |  |  | (789) |  |  | 246,334 |
Commercial paper | 203,080 |  |  | — |  |  | (6) |  |  | 203,074 |
Certificates of deposit | 150,446 |  |  | — |  |  | — |  |  | 150,446 |
Total | $ | 4,003,534 |  |  | $ | 4,468 |  |  | $ | (6,048) |  |  | $ | 4,001,954 |
| December 31, 2022
| Cost or Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Total Estimated Fair Value
| (in thousands)
Cash | $ | 1,325,946 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,325,946 |
Level 1 securities: |  |  |  |  |  |  |
U.S. government securities | 1,630,224 |  |  | 109 |  |  | (9,484) |  |  | 1,620,849 |
U.S. government agency securities | 175,269 |  |  | 19 |  |  | (188) |  |  | 175,100 |
Level 2 securities: |  |  |  |  |  |  |
Corporate debt securities | 309,942 |  |  | 32 |  |  | (1,462) |  |  | 308,512 |
Commercial paper | 290,589 |  |  | — |  |  | — |  |  | 290,589 |
Certificates of deposit | 157,965 |  |  | — |  |  | (1) |  |  | 157,964 |
Total | $ | 3,889,935 |  |  | $ | 160 |  |  | $ | (11,135) |  |  | $ | 3,878,960 |
Gain (Loss) on Securities | Gains and losses recognized during the periods presented were as follows:
| Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
| (in thousands)
Unrealized gains (losses) on investments in privately held companies still held at the reporting date, net | $ | 1,079 |  |  | $ | 13,255 |  |  |  |  |
Gains and losses recognized during the periods presented, which are included within other income (expense), net on our consolidated statements of operations, were as follows:
| Three Months Ended March 31, |  |
| 2023 |  | 2022 |  |  |  |
| (in thousands)
Gains (losses) recognized on publicly traded equity securities sold during the period, net | $ | 137 |  |  | $ | — |  |  |  |  |
Unrealized gains (losses) on publicly traded equity securities still held at the reporting date, net | 10,594 |  |  | (92,140) |  |  |  |  |
Gains (losses) on publicly traded equity securities, net | $ | 10,731 |  |  | $ | (92,140) |  |  |  |  |

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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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of realized and unrealized gain (loss) on investment in security. + References No definition available. + Details
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