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Cash Equivalents and Investments (Tables)
 6 Months Ended
Jun. 30, 2025
Cash and Cash Equivalents [Abstract]  
Schedule of Cash Equivalents and Short-Term Investments
The following tables summarize the cost or amortized cost, gross unrealized gain, gross unrealized loss and fair value of the Company’s cash equivalents and investments as of the dates indicated (in thousands):
June 30, 2025
Cost or
Amortized
Cost		UnrealizedEstimated
Fair Value
GainsLosses
Unrestricted Balances(1)
Money market funds$206,472 $— $— $206,472 
Money market deposit accounts
285,033 — — 285,033 
Certificates of deposit
162,345 54 (7)162,392 
Commercial paper
369,833 44 (190)369,687 
Corporate bonds
159,439 740 (11)160,168 
U.S. government and agency securities
226,547 16 (48)226,515 
Total unrestricted cash equivalents and short-term investments1,409,669 854 (256)1,410,267 
Restricted Balances
Money market funds
18,310 — — 18,310 
Certificates of deposit
222,265 55 (17)222,303 
Commercial paper
949,826 60 (474)949,412 
Corporate bonds
24,404 1 (2)24,403 
U.S. government and agency securities
500,268 38 (68)500,238 
Total restricted cash equivalents and investments1,715,073 154 (561)1,714,666 
Total unrestricted and restricted cash equivalents and investments
$3,124,742 $1,008 $(817)$3,124,933 
_______________
(1)Excludes $381.9 million of cash, which is included within the $1.8 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets.
December 31, 2024
Cost or
Amortized
Cost		UnrealizedEstimated
Fair Value
GainsLosses
Unrestricted Balances(1)
Money market funds$189,839 $— $— $189,839 
Money market deposit accounts304,716 — — 304,716 
Certificates of deposit171,352 150 (144)171,358 
Commercial paper762,405 529 (388)762,546 
Corporate bonds70,207 29 (5)70,231 
U.S. government and agency securities352,984 295 (5)353,274 
Total unrestricted cash equivalents and short-term investments1,851,503 1,003 (542)1,851,964 
Restricted Balances
Money market funds42,699 — — 42,699 
Term deposits2,194 — — 2,194 
Certificates of deposit189,694 144 (242)189,596 
Commercial paper782,491 433 (368)782,556 
Corporate bonds59,254 19 (7)59,266 
U.S. government and agency securities465,516 349 (8)465,857 
Total restricted cash equivalents and investments1,541,848 945 (625)1,542,168 
Total unrestricted and restricted cash equivalents and investments$3,393,351 $1,948 $(1,167)$3,394,132 
_______________
(1)Excludes $132.5 million of cash, which is included within the $2.0 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets.
Schedule of AFS Debt Securities
The following table summarizes the Company’s available-for-sale debt securities in an unrealized loss position for which no allowance for credit losses was recorded, aggregated by major security type and maturity (in thousands):
June 30, 2025
Less than 12 months
12 months or greaterTotal
Estimated Fair ValueUnrealized LossesEstimated Fair ValueUnrealized LossesEstimated Fair ValueUnrealized Losses
Certificates of deposit$87,446 $(24)$— $— $87,446 $(24)
Corporate bonds 17,887 (4)12,564 (9)30,451 (13)
Commercial paper507,532 (654)— — 507,532 (654)
U.S. government and agency securities
487,270 (116)— — 487,270 (116)
Total available-for-sale debt securities in an unrealized loss position
$1,100,135 $(798)$12,564 $(9)$1,112,699 $(807)
December 31, 2024
Less than 12 months12 months or greaterTotal
Estimated Fair ValueUnrealized LossesEstimated Fair ValueUnrealized LossesEstimated Fair ValueUnrealized Losses
Certificates of deposit$99,144 $(386)$— $— $99,144 $(386)
Corporate bonds 49,516 (12)— — 49,516 (12)
Commercial paper241,805 (756)— — 241,805 (756)
U.S. government and agency securities62,787 (13)— — 62,787 (13)
Total available-for-sale debt securities in an unrealized loss position$453,252 $(1,167)$— $— $453,252 $(1,167)
The following table classifies the Company’s available-for-sale debt securities by contractual maturities (in thousands):
June 30,
2025		December 31,
2024
Due within one year$2,000,841 $2,578,381 
Due within one year to three years130,877 — 
Total$2,131,718 $2,578,381