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MARKETABLE SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2021
Cash and Cash Equivalents [Abstract] |
Schedule of cash and cash equivalents | The following table sets forth the Company’s cash, cash equivalents, restricted cash, and marketable securities at September 30, 2021 and December 31, 2020:
(In thousands) |  | September 30, 2021 |  | December 31, 2020
Cash, cash equivalents, and restricted cash |  |  |  |
Cash and money market |  | $ | 273,779 |  |  | $ | 901,294 |
Cash equivalents |  | — |  |  | 589,994 |
Restricted cash |  | 297 |  |  | 306 |
Total cash, cash equivalents, and restricted cash |  | 274,076 |  |  | 1,491,594 |
Marketable securities |  |  |  |
Available-for-sale debt securities |  | 941,620 |  |  | 347,178 |
Equity securities |  | 3,068 |  |  | 1,521 |
Total marketable securities |  | 944,688 |  |  | 348,699 |
Total cash and cash equivalents, restricted cash and marketable securities |  | $ | 1,218,764 |  |  | $ | 1,840,293 |
Schedule of restricted cash and cash equivalents | The following table sets forth the Company’s cash, cash equivalents, restricted cash, and marketable securities at September 30, 2021 and December 31, 2020:
(In thousands) |  | September 30, 2021 |  | December 31, 2020
Cash, cash equivalents, and restricted cash |  |  |  |
Cash and money market |  | $ | 273,779 |  |  | $ | 901,294 |
Cash equivalents |  | — |  |  | 589,994 |
Restricted cash |  | 297 |  |  | 306 |
Total cash, cash equivalents, and restricted cash |  | 274,076 |  |  | 1,491,594 |
Marketable securities |  |  |  |
Available-for-sale debt securities |  | 941,620 |  |  | 347,178 |
Equity securities |  | 3,068 |  |  | 1,521 |
Total marketable securities |  | 944,688 |  |  | 348,699 |
Total cash and cash equivalents, restricted cash and marketable securities |  | $ | 1,218,764 |  |  | $ | 1,840,293 |
Schedule of available-for-sale securities | Available-for-sale debt securities at September 30, 2021 consisted of the following:
(In thousands) |  | Amortized Cost |  | Gains in Accumulated Other Comprehensive Income (Loss) (1) |  | Losses in Accumulated Other Comprehensive Income (Loss) (1) |  | Estimated Fair Value
Marketable securities |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 368,662 |  |  | $ | 213 |  |  | $ | (43) |  |  | $ | 368,832 |
U.S. government agency securities |  | 276,146 |  |  | 19 |  |  | (84) |  |  | 276,081 |
Certificates of deposit |  | 175,508 |  |  | 35 |  |  | (1) |  |  | 175,542 |
Commercial paper |  | 10,000 |  |  | 1 |  |  | — |  |  | 10,001 |
Asset backed securities |  | 111,171 |  |  | 11 |  |  | (18) |  |  | 111,164 |
Total available-for-sale securities |  | $ | 941,487 |  |  | $ | 279 |  |  | $ | (146) |  |  | $ | 941,620 |
______________ (1)Gains and losses in accumulated other comprehensive income (loss) (“AOCI”) are reported before tax impact. Available-for-sale debt securities at December 31, 2020 consisted of the following:
(In thousands) |  | Amortized Cost |  | Gains in Accumulated Other Comprehensive Income (Loss) (1) |  | Losses in Accumulated Other Comprehensive Income (Loss) (1) |  | Estimated Fair Value
Cash equivalents |  |  |  |  |  |  |  |
U.S. government agency securities |  | $ | 589,986 |  |  | $ | 8 |  |  | $ | — |  |  | $ | 589,994 |
Total cash equivalents |  | 589,986 |  |  | 8 |  |  | — |  |  | 589,994 |
Marketable securities |  |  |  |  |  |  |  |
U.S. government agency securities |  | 207,119 |  |  | 52 |  |  | — |  |  | 207,171 |
Asset backed securities |  | 7,070 |  |  | 24 |  |  | — |  |  | 7,094 |
Corporate bonds |  | 132,301 |  |  | 612 |  |  | — |  |  | 132,913 |
Total marketable securities |  | 346,490 |  |  | 688 |  |  | — |  |  | 347,178 |
Total available-for-sale securities |  | $ | 936,476 |  |  | $ | 696 |  |  | $ | — |  |  | $ | 937,172 |
______________ (1)Gains and losses in AOCI are reported before tax impact.
Schedule of contractual maturities of available-for-sale investments | The following table summarizes contractual underlying maturities of the Company’s available-for-sale debt securities at September 30, 2021:
|  | Due one year or less |  | Due after one year through five years
(In thousands) |  | Cost |  | Fair Value |  | Cost |  | Fair Value
Marketable securities |  |  |  |  |  |  |  |
U.S. government agency securities |  | $ | 7,049 |  |  | $ | 7,067 |  |  | $ | 269,097 |  |  | $ | 269,014 |
Corporate bonds |  | 235,977 |  |  | 236,101 |  |  | 132,685 |  |  | 132,731 |
Certificates of deposit |  | 175,508 |  |  | 175,542 |  |  | — |  |  | — |
Asset backed securities |  | — |  |  | — |  |  | 111,171 |  |  | 111,164 |
Commercial paper |  | 10,000 |  |  | 10,001 |  |  | — |  |  | — |
Total |  | $ | 428,534 |  |  | $ | 428,711 |  |  | $ | 512,953 |  |  | $ | 512,909 |
Schedule of gross unrealized losses and fair values of investments in an unrealized loss position | The following table summarizes the gross unrealized losses and fair values of available-for-sale debt securities in an unrealized loss position as of September 30, 2021, aggregated by investment category and length of time that individual securities have been in a continuous unrealized loss position:
|  | Less than one year |  | One year or greater |  | Total
(In thousands) |  | Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss |  | Fair Value |  | Gross Unrealized Loss
Marketable securities |  |  |  |  |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 155,043 |  |  | $ | (43) |  |  | $ | — |  |  | $ | — |  |  | $ | 155,043 |  |  | $ | (43) |
Certificates of deposit |  | 15,650 |  |  | (1) |  |  | — |  |  | — |  |  | 15,650 |  |  | (1) |
Asset backed securities |  | 81,478 |  |  | (18) |  |  | — |  |  | — |  |  | 81,478 |  |  | (18) |
U.S. government agency securities |  | 259,019 |  |  | (84) |  |  | — |  |  | — |  |  | 259,019 |  |  | (84) |
Total available-for-sale securities |  | $ | 511,190 |  |  | $ | (146) |  |  | $ | — |  |  | $ | — |  |  | $ | 511,190 |  |  | $ | (146) |

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