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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Schedule of Available-for-Sale Marketable Securities Held | Available-for-sale marketable securities held as of March 31, 2024 and December 31, 2023 were as follows (in thousands):
|  |  | Gross Unrealized |  |  |  | Classification on Balance Sheet
| Amortized Cost |  | Gains |  | Losses |  | Aggregate Fair Value |  | Short-Term Marketable Securities |  | Long-Term Marketable Securities
As of March 31, 2024 |  |  |  |  |  |  |  |  |  |  |
Commercial paper | $ | 5,318 |  |  | $ | — |  |  | $ | (14) |  |  | $ | 5,304 |  |  | $ | 5,304 |  |  | $ | — |
Corporate bonds | 1,361,982 |  |  | 1,247 |  |  | (3,467) |  |  | 1,359,762 |  |  | 856,550 |  |  | 503,212 |
U.S. government agency obligations | 396,152 |  |  | 354 |  |  | (789) |  |  | 395,717 |  |  | 339,325 |  |  | 56,392 |
| $ | 1,763,452 |  |  | $ | 1,601 |  |  | $ | (4,270) |  |  | $ | 1,760,783 |  |  | $ | 1,201,179 |  |  | $ | 559,604 |
As of December 31, 2023 |  |  |  |  |  |  |  |  |  |  |
Time deposits | $ | 14,426 |  |  | $ | — |  |  | $ | — |  |  | $ | 14,426 |  |  | $ | 14,426 |  |  | $ | — |
Commercial paper | 6,249 |  |  | — |  |  | (5) |  |  | 6,244 |  |  | 6,244 |  |  | — |
Corporate bonds | 1,328,980 |  |  | 6,429 |  |  | (4,201) |  |  | 1,331,208 |  |  | 276,975 |  |  | 1,054,233 |
U.S. government agency obligations | 428,157 |  |  | 2,462 |  |  | (979) |  |  | 429,640 |  |  | 74,369 |  |  | 355,271 |
| $ | 1,777,812 |  |  | $ | 8,891 |  |  | $ | (5,185) |  |  | $ | 1,781,518 |  |  | $ | 372,014 |  |  | $ | 1,409,504 |
Schedule of Fair Value Measurements within Fair Value Hierarchy | The fair value measurements within the fair value hierarchy of the Company’s financial assets as of March 31, 2024 and December 31, 2023 were as follows (in thousands):
| Total Fair Value |  | Fair Value Measurements at Reporting Date Using
|  | Level 1 |  | Level 2 |  |
As of March 31, 2024 |  |  |  |  |  |  |
Cash Equivalents and Marketable Securities: |  |  |  |  |  |  |
Money market funds | $ | 147,089 |  |  | $ | 147,089 |  |  | $ | — |  |  |
Time deposits | 38,623 |  |  | — |  |  | 38,623 |  |  |
Commercial paper | 8,282 |  |  | — |  |  | 8,282 |  |  |
Corporate bonds | 1,359,762 |  |  | — |  |  | 1,359,762 |  |  |
U.S. government agency obligations | 395,717 |  |  | — |  |  | 395,717 |  |  |
Mutual funds | 24,101 |  |  | 24,101 |  |  | — |  |  |
| $ | 1,973,574 |  |  | $ | 171,190 |  |  | $ | 1,802,384 |  |  |
As of December 31, 2023 |  |  |
Cash Equivalents and Marketable Securities: |  |  |  |  |  |  |
Money market funds | $ | 177,240 |  |  | $ | 177,240 |  |  | $ | — |  |  |
Time deposits | 39,670 |  |  | — |  |  | 39,670 |  |  |
Commercial paper | 6,244 |  |  | — |  |  | 6,244 |  |  |
Corporate bonds | 1,331,208 |  |  | — |  |  | 1,331,208 |  |  |
U.S. government agency obligations | 429,640 |  |  | — |  |  | 429,640 |  |  |
Mutual funds | 22,942 |  |  | 22,942 |  |  | — |  |  |
| $ | 2,006,944 |  |  | $ | 200,182 |  |  | $ | 1,806,762 |  |  |
Schedule of Contractual Maturities of Available-for-Sale Marketable Securities Held | Contractual maturities of the Company’s available-for-sale marketable securities held as of March 31, 2024 and December 31, 2023 were as follows (in thousands):
| March 31, 2024 |  | December 31, 2023
Due in 1 year or less | $ | 1,201,179 |  |  | $ | 372,014 |
Due after 1 year through 5 years | 559,604 |  |  | 1,409,504 |
| $ | 1,760,783 |  |  | $ | 1,781,518 |

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