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MARKETABLE SECURITIES (Tables) | 9 Months Ended
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Sep. 30, 2023
Cash and Cash Equivalents [Abstract] |
Cash, Cash Equivalents and Investments | The following table sets forth the Company’s cash, cash equivalents, and marketable securities at September 30, 2023 and December 31, 2022:
(In thousands) |  | September 30, 2023 |  | December 31, 2022
Cash and cash equivalents |  |  |  |
Cash and money market |  | $ | 543,316 |  |  | $ | 178,168 |
Cash equivalents |  | 51,296 |  |  | 64,325 |
Total cash and cash equivalents |  | 594,612 |  |  | 242,493 |
Marketable securities |  |  |  |
Available-for-sale debt securities |  | $ | 137,049 |  |  | $ | 384,415 |
Equity securities |  | 2,745 |  |  | 5,149 |
Total marketable securities |  | 139,794 |  |  | 389,564 |
Total cash, cash equivalents and marketable securities |  | $ | 734,406 |  |  | $ | 632,057 |
Schedule of available-for-sale securities | Available-for-sale debt securities, including the classification within the condensed consolidated balance sheet at September 30, 2023, 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 |  |  |  |  |  |  |  |
Commercial paper |  | $ | 49,806 |  |  | $ | — |  |  | $ | — |  |  | $ | 49,806 |
U.S. government agency securities |  | 1,490 |  |  | — |  |  | — |  |  | 1,490 |
Total cash equivalents |  | 51,296 |  |  | — |  |  | — |  |  | 51,296 |
Marketable securities |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 55,464 |  |  | $ | 5 |  |  | $ | (359) |  |  | $ | 55,110 |
U.S. government agency securities |  | 43,121 |  |  | 1 |  |  | (190) |  |  | 42,932 |
Asset backed securities |  | 30,524 |  |  | — |  |  | (419) |  |  | 30,105 |
Commercial paper |  | 8,902 |  |  | — |  |  | — |  |  | 8,902 |
Total marketable securities |  | 138,011 |  |  | 6 |  |  | (968) |  |  | 137,049 |
Total available-for-sale securities |  | $ | 189,307 |  |  | $ | 6 |  |  | $ | (968) |  |  | $ | 188,345 |
______________ (1)There was no tax impact from the gains and losses in accumulated other comprehensive income (loss) (“AOCI”). Available-for-sale debt securities, including the classification within the condensed consolidated balance sheet at December 31, 2022, 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 |  |  |  |  |  |  |  |
Commercial paper |  | $ | 63,021 |  |  | $ | — |  |  | $ | — |  |  | $ | 63,021 |
U.S. government agency securities |  | 1,304 |  |  | — |  |  | — |  |  | 1,304 |
Total cash equivalents |  | 64,325 |  |  | — |  |  | — |  |  | 64,325 |
Marketable securities |  |  |  |  |  |  |  |
U.S. government agency securities |  | $ | 228,012 |  |  | $ | — |  |  | $ | (2,789) |  |  | $ | 225,223 |
Corporate bonds |  | 116,318 |  |  | 20 |  |  | (1,667) |  |  | 114,671 |
Asset backed securities |  | 45,374 |  |  | 2 |  |  | (855) |  |  | 44,521 |
Total marketable securities |  | 389,704 |  |  | 22 |  |  | (5,311) |  |  | 384,415 |
Total available-for-sale securities |  | $ | 454,029 |  |  | $ | 22 |  |  | $ | (5,311) |  |  | $ | 448,740 |
______________ (1)There was no tax impact from the gains and losses in AOCI.
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, 2023:
|  | Due one year or less |  | Due after one year through five years
(In thousands) |  | Cost |  | Fair Value |  | Cost |  | Fair Value
Cash equivalents |  |  |  |  |  |  |  |
Commercial paper |  | $ | 49,806 |  |  | $ | 49,806 |  |  | $ | — |  |  | $ | — |
U.S. government agency securities |  | 1,490 |  |  | 1,490 |  |  | — |  |  | — |
Total cash equivalents |  | 51,296 |  |  | 51,296 |  |  | — |  |  | — |
Marketable securities |  |  |  |  |  |  |  |
Corporate bonds |  | $ | 37,188 |  |  | $ | 36,931 |  |  | $ | 18,276 |  |  | $ | 18,179 |
U.S. government agency securities |  | 27,744 |  |  | 27,648 |  |  | 15,377 |  |  | 15,284 |
Commercial Paper |  | 8,902 |  |  | 8,902 |  |  | — |  |  | — |
Asset backed securities |  | 898 |  |  | 894 |  |  | 29,626 |  |  | 29,211 |
Total marketable securities |  | 74,732 |  |  | 74,375 |  |  | 63,279 |  |  | 62,674 |
Total available-for-sale securities |  | $ | 126,028 |  |  | $ | 125,671 |  |  | $ | 63,279 |  |  | $ | 62,674 |
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, 2023 aggregated by investment category and length of time those 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 |  | $ | 34,109 |  |  | $ | (177) |  |  | $ | 17,996 |  |  | $ | (182) |  |  | $ | 52,105 |  |  | $ | (359) |
U.S. government agency securities |  | 33,114 |  |  | (151) |  |  | 7,929 |  |  | (39) |  |  | 41,043 |  |  | (190) |
Asset backed securities |  | 15,011 |  |  | (41) |  |  | 15,094 |  |  | (378) |  |  | 30,105 |  |  | (419) |
Total available-for-sale securities |  | $ | 82,234 |  |  | $ | (369) |  |  | $ | 41,019 |  |  | $ | (599) |  |  | $ | 123,253 |  |  | $ | (968) |

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