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Cash and Investments (Tables) | 6 Months Ended
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Jun. 30, 2023
Investments, Debt and Equity Securities [Abstract] |
Schedule of Investments by Security Type | Cash, cash equivalents and investments consisted of the following (in thousands):
| June 30, 2023
| Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value
Debt securities available-for-sale: |  |  |  |  |  |  |
Commercial paper | $ | 646,523 |  |  | $ | — |  |  | $ | — |  |  | $ | 646,523 |
Corporate bonds | 828,044 |  |  | 174 |  |  | (12,050) |  |  | 816,168 |
U.S. Treasury and government-sponsored enterprises | 413,747 |  |  | 9 |  |  | (6,359) |  |  | 407,397 |
Municipal bonds | 11,140 |  |  | — |  |  | (140) |  |  | 11,000 |
Total debt securities available-for-sale | 1,899,454 |  |  | 183 |  |  | (18,549) |  |  | 1,881,088 |
Money market funds | 124,270 |  |  | — |  |  | — |  |  | 124,270 |
Certificates of deposit | 100,072 |  |  | — |  |  | — |  |  | 100,072 |
Total cash, cash equivalents and investments | $ | 2,123,796 |  |  | $ | 183 |  |  | $ | (18,549) |  |  | $ | 2,105,430 |
| 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 bonds | 810,439 |  |  | 541 |  |  | (13,132) |  |  | 797,848 |
U.S. Treasury and government-sponsored enterprises | 338,218 |  |  | 48 |  |  | (5,679) |  |  | 332,587 |
Municipal bonds | 16,385 |  |  | — |  |  | (223) |  |  | 16,162 |
Total debt securities available-for-sale | 1,887,060 |  |  | 589 |  |  | (19,034) |  |  | 1,868,615 |
Cash | 41 |  |  | — |  |  | — |  |  | 41 |
Money market funds | 94,344 |  |  | — |  |  | — |  |  | 94,344 |
Certificates of deposit | 103,681 |  |  | — |  |  | — |  |  | 103,681 |
Total cash, 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):
|  |  |  |  |  |  |  |  | June 30, 2023
|  |  |  |  |  |  |  |  | Fair Value |  | Gross Unrealized Losses
Corporate bonds |  |  |  |  |  |  |  |  | $ | 761,913 |  |  | $ | (12,050) |
U.S. Treasury and government-sponsored enterprises |  |  |  |  |  |  |  |  | 404,405 |  |  | (6,359) |
Municipal bonds |  |  |  |  |  |  |  |  | 8,645 |  |  | (140) |
Total |  |  |  |  |  |  |  |  | $ | 1,174,963 |  |  | $ | (18,549) |
|  |  |  |  |  |  |  |  | December 31, 2022
|  |  |  |  |  |  |  |  | Fair Value |  | Gross Unrealized Losses
Corporate bonds |  |  |  |  |  |  |  |  | $ | 706,711 |  |  | $ | (13,132) |
U.S. Treasury and government-sponsored enterprises |  |  |  |  |  |  |  |  | 308,307 |  |  | (5,679) |
Municipal bonds |  |  |  |  |  |  |  |  | 15,792 |  |  | (223) |
Total |  |  |  |  |  |  |  |  | $ | 1,030,810 |  |  | $ | (19,034) |
Schedule of Fair Value of Cash Equivalents and Investments by Contractual Maturity | The fair values of debt securities available-for-sale by contractual maturity were as follows (in thousands):
| June 30, 2023 |  | December 31, 2022
Maturing in one year or less | $ | 1,042,473 |  |  | $ | 1,114,884 |
Maturing after one year through five years | 838,615 |  |  | 753,731 |
Total debt securities available-for-sale | $ | 1,881,088 |  |  | $ | 1,868,615 |

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