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Cash Equivalents and Marketable Securities | 6 Months Ended
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Jun. 30, 2022
Cash Equivalents And Marketable Securities [Abstract] |
Cash Equivalents and Marketable Securities | 4. Cash Equivalents and Marketable Securities Cash equivalents consist primarily of amounts invested in money market instruments, such as money market funds and repurchase agreements collateralized with securities issued by the U.S. government or its agencies. Our marketable securities consist of high investment grade fixed income securities that are primarily invested in commercial paper, corporate bonds, and U.S. government securities. Cash equivalents and marketable securities classified as available-for-sale consisted of the following:
|  | June 30, 2022 |
|  | Amortized Cost Basis |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Estimated Fair Value |
|  | (in thousands) |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 99,569 |  |  | $ | — |  |  | $ | — |  |  | $ | 99,569 |
Commercial paper |  |  | 122,812 |  |  |  | — |  |  |  | (21 | ) |  |  | 122,791 |
Agency discount notes |  |  | 34,937 |  |  |  | — |  |  |  | (4 | ) |  |  | 34,933 |
Total cash equivalents |  |  | 257,318 |  |  |  | — |  |  |  | (25 | ) |  |  | 257,293 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury notes |  |  | 76,127 |  |  |  | — |  |  |  | (151 | ) |  |  | 75,976 |
Commercial paper |  |  | 126,709 |  |  |  | 1 |  |  |  | (207 | ) |  |  | 126,503 |
Corporate debt securities |  |  | 16,032 |  |  |  | — |  |  |  | (45 | ) |  |  | 15,987 |
Total marketable securities |  |  | 218,868 |  |  |  | 1 |  |  |  | (403 | ) |  |  | 218,466 |
Total cash equivalents and marketable securities |  | $ | 476,186 |  |  | $ | 1 |  |  | $ | (428 | ) |  | $ | 475,759 |
|  | December 31, 2021 |
|  | Amortized Cost Basis |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Estimated Fair Value |
|  | (in thousands) |
Cash equivalents: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 176,115 |  |  | $ | — |  |  | $ | — |  |  | $ | 176,115 |
Commercial paper |  |  | 56,988 |  |  |  | — |  |  |  | (2 | ) |  |  | 56,986 |
Total cash equivalents |  |  | 233,103 |  |  |  | — |  |  |  | (2 | ) |  |  | 233,101 |
Marketable securities: |  |  |  |  |  |  |  |  |  |  |  |
U.S. treasury notes |  |  | 76,518 |  |  |  | — |  |  |  | (46 | ) |  |  | 76,472 |
Commercial paper |  |  | 167,761 |  |  |  | 2 |  |  |  | (26 | ) |  |  | 167,737 |
Corporate debt securities |  |  | 122,548 |  |  |  | — |  |  |  | (58 | ) |  |  | 122,490 |
Supranational debt securities |  |  | 27,046 |  |  |  | — |  |  |  | (2 | ) |  |  | 27,044 |
Total marketable securities |  |  | 393,873 |  |  |  | 2 |  |  |  | (132 | ) |  |  | 393,743 |
Total cash equivalents and marketable securities |  | $ | 626,976 |  |  | $ | 2 |  |  | $ | (134 | ) |  | $ | 626,844 |
There have been no significant realized gains or losses on available-for-sale securities for the periods presented. There were no available-for-sale securities that have been in a continuous unrealized loss position for more than 12 months. As of June 30, 2022 and December 31, 2021, our marketable securities have average contractual maturities of approximately six months. We believe that we have the ability to realize the full value of all of these investments upon their respective maturities.

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- Definition Cash equivalents and marketable securities. + References No definition available. + Details
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- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI https://asc.fasb.org/topic&trid=2196928 + Details
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