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Cash and Investments (Tables)
 3 Months Ended
Mar. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash A reconciliation of cash, cash equivalents and restricted cash equivalents reported in the accompanying Condensed Consolidated Balance Sheets to the amount reported within the accompanying Condensed Consolidated Statements of Cash Flows was as follows (in thousands):
 
March 31, 2023December 31, 2022
Cash and cash equivalents$540,597 $501,195 
Restricted cash equivalents included in other long-term assets1,482 1,482 
Cash, cash equivalents and restricted cash equivalents as reported within the accompanying Condensed Consolidated Statements of Cash Flows$542,079 $502,677 
Schedule of Reconciliation of Cash, Cash Equivalents, and Restricted Cash A reconciliation of cash, cash equivalents and restricted cash equivalents reported in the accompanying Condensed Consolidated Balance Sheets to the amount reported within the accompanying Condensed Consolidated Statements of Cash Flows was as follows (in thousands):
 
March 31, 2023December 31, 2022
Cash and cash equivalents$540,597 $501,195 
Restricted cash equivalents included in other long-term assets1,482 1,482 
Cash, cash equivalents and restricted cash equivalents as reported within the accompanying Condensed Consolidated Statements of Cash Flows$542,079 $502,677 
Schedule of Investments by Security Type
Cash, cash equivalents, restricted cash equivalents and investments consisted of the following (in thousands):
March 31, 2023
Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Debt securities available-for-sale:
Commercial paper$684,917 $— $— $684,917 
Corporate bonds823,100 2,105 (10,274)814,931 
U.S. Treasury and government-sponsored enterprises367,479 466 (3,859)364,086 
Municipal bonds11,480 — (144)11,336 
Total debt securities available-for-sale1,886,976 2,571 (14,277)1,875,270 
Cash64 — — 64 
Money market funds165,941 — — 165,941 
Certificates of deposit79,955 — — 79,955 
Total cash, cash equivalents, restricted cash equivalents and investments$2,132,936 $2,571 $(14,277)$2,121,230 
December 31, 2022
Amortized Cost
Gross Unrealized Gains
Gross Unrealized Losses
Fair Value
Debt securities available-for-sale:
Commercial paper$722,018 $— $— $722,018 
Corporate bonds810,439 541 (13,132)797,848 
U.S. Treasury and government-sponsored enterprises338,218 48 (5,679)332,587 
Municipal bonds16,385 — (223)16,162 
Total debt securities available-for-sale1,887,060 589 (19,034)1,868,615 
Cash41 — — 41 
Money market funds94,344 — — 94,344 
Certificates of deposit103,681 — — 103,681 
Total cash, cash equivalents, restricted cash equivalents and investments
$2,085,126 $589 $(19,034)$2,066,681 
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):
March 31, 2023
Fair ValueGross Unrealized Losses
Corporate Bonds$551,038 $(10,274)
U.S. Treasury and government-sponsored enterprises283,051 (3,859)
Municipal bonds11,336 (144)
Total
$845,425 $(14,277)
December 31, 2022
Fair ValueGross Unrealized Losses
Corporate bonds$706,711 $(13,132)
U.S. Treasury and government-sponsored enterprises308,307 (5,679)
Municipal bonds15,792 (223)
Total
$1,030,810 $(19,034)
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):
 
March 31, 2023December 31, 2022
Maturing in one year or less$1,071,653 $1,114,884 
Maturing after one year through five years803,617 753,731 
Total debt securities available-for-sale$1,875,270 $1,868,615