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Cash and Investments (Tables)

12 Months Ended

Dec. 31, 2021

Investments, Debt and Equity Securities [Abstract]

Reconciliation of Cash, Cash Equivalents, and Restricted Cash

A reconciliation of cash, cash equivalents, and restricted cash equivalents reported in the accompanying Consolidated Balance Sheets to the amount reported within the accompanying Consolidated Statements of Cash Flows was as follows (in thousands):

			December 31,
			2021						2020
Cash and cash equivalents			$	647,169					$	319,217
Restricted cash equivalents included in other long-term assets			16,722						1,555
Cash, cash equivalents, and restricted cash equivalents as reported within the accompanying Consolidated Statements of Cash Flows			$	663,891					$	320,772

Reconciliation of Cash, Cash Equivalents, and Restricted Cash

A reconciliation of cash, cash equivalents, and restricted cash equivalents reported in the accompanying Consolidated Balance Sheets to the amount reported within the accompanying Consolidated Statements of Cash Flows was as follows (in thousands):

			December 31,
			2021						2020
Cash and cash equivalents			$	647,169					$	319,217
Restricted cash equivalents included in other long-term assets			16,722						1,555
Cash, cash equivalents, and restricted cash equivalents as reported within the accompanying Consolidated Statements of Cash Flows			$	663,891					$	320,772

Schedule of Investments by Security Type

Cash, cash equivalents, restricted cash equivalents and investments consisted of the following (in thousands):

			December 31, 2021
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Debt securities available-for-sale:
Commercial paper			$	945,801					$	42					$	(2)					$	945,841
Corporate bonds			541,774						876						(1,672)						540,978
U.S. Treasury and government-sponsored enterprises			33,965						1						(21)						33,945
Municipal bonds			12,924						15						(35)						12,904
Total debt securities available-for-sale			1,534,464						934						(1,730)						1,533,668
Cash			135,653						—						—						135,653
Money market funds			66,531						—						—						66,531
Certificates of deposit			119,056						—						—						119,056
Total cash, cash equivalents, restricted cash equivalents and investments			$	1,855,704					$	934					$	(1,730)					$	1,854,908

			December 31, 2020
			Amortized Cost						Gross Unrealized Gains						Gross Unrealized Losses						Fair Value
Debt securities available-for-sale:
Commercial paper			$	569,456					$	372					$	—					$	569,828
Corporate bonds			543,520						5,244						(7)						548,757
U.S. Treasury and government-sponsored enterprises			208,326						232						(4)						208,554
Municipal Bonds			28,680						83						(1)						28,762
Total debt securities available-for-sale			1,349,982						5,931						(12)						1,355,901
Cash			82,176						—						—						82,176
Money market funds			40,761						—						—						40,761
Certificates of deposit			60,004						—						—						60,004
Total cash, cash equivalents, restricted cash equivalents and investments			$	1,532,923					$	5,931					$	(12)					$	1,538,842

Schedule of Fair Value and Gross Unrealized Losses of Investments Available-for-Sale in an Unrealized Loss Position

The fair value and gross unrealized losses on debt securities available-for-sale in an unrealized loss position were as follows (in thousands):

			December 31, 2021
			Fair Value						Gross Unrealized Losses
Corporate bonds			$	385,053					$	(1,672)
Commercial paper			43,290						(2)
U.S. Treasury and government-sponsored enterprises			18,962						(21)
Municipal bonds			7,475						(35)
Total			$	454,780					$	(1,730)

			December 31, 2020
			Fair Value						Gross Unrealized Losses
Corporate bonds			$	28,445					$	(7)
U.S. Treasury and government-sponsored enterprises			21,989						(4)
Municipal bonds			5,865						(1)
Total			$	56,299					$	(12)

Schedule of Fair Value of Cash Equivalents and Investments by Contractual Maturity

The fair value of debt securities available-for-sale by contractual maturity was as follows (in thousands):

			December 31,
			2021						2020
Maturing in one year or less			$	1,168,256					$	1,034,150
Maturing after one year through five years			365,412						321,751
Total debt securities available-for-sale			$	1,533,668					$	1,355,901

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- Definition

Tabular disclosure of fair value of investment in debt security measured at fair value with change in fair value recognized in other comprehensive income (available-for-sale), in unrealized loss position, without allowance for credit loss. Includes beneficial interest in securitized financial asset.

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