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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2026
Fair Value Disclosures [Abstract] |
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis | The following tables set forth the Company’s financial assets and liabilities that were measured at fair value on a recurring basis as of the dates indicated by level within the fair value hierarchy (in thousands):
| March 31, 2026
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Unrestricted cash equivalents and short-term investments(1) |  |  |  |  |  |  |
Money market funds | $ | 165,585 |  |  | $ | — |  |  | $ | — |  |  | $ | 165,585 |
Certificates of deposit | — |  |  | 160,023 |  |  | — |  |  | 160,023 |
Commercial paper | — |  |  | 176,741 |  |  | — |  |  | 176,741 |
Corporate bonds | — |  |  | 316,419 |  |  | — |  |  | 316,419 |
U.S. government and agency securities | — |  |  | 77,495 |  |  | — |  |  | 77,495 |
Total unrestricted cash equivalents and short-term investments | 165,585 |  |  | 730,678 |  |  | — |  |  | 896,263 |
Restricted cash equivalents and investments(2) |  |  |  |  |  |  |
Money market funds | 29,594 |  |  | — |  |  | — |  |  | 29,594 |
Certificates of deposit | — |  |  | 53,969 |  |  | — |  |  | 53,969 |
Commercial paper | — |  |  | 1,064,040 |  |  | — |  |  | 1,064,040 |
U.S. government and agency securities | — |  |  | 847,661 |  |  | — |  |  | 847,661 |
Total restricted cash equivalents and investments | 29,594 |  |  | 1,965,670 |  |  | — |  |  | 1,995,264 |
Total financial assets | $ | 195,179 |  |  | $ | 2,696,348 |  |  | $ | — |  |  | $ | 2,891,527 |
_______________ (1)$461.3 million of cash and $363.3 million of money market deposit accounts are not subject to recurring fair value measurement and therefore excluded from this table. However, these balances are included within the $1.7 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2)$3.0 million of restricted cash is not subject to recurring fair value measurement and is therefore excluded from this table. However, this balance is included within the $2.0 billion of restricted cash and cash equivalents and restricted investments on the condensed consolidated balance sheets.
| December 31, 2025
| Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets |  |  |  |  |  |  |
Unrestricted cash equivalents and short-term investments(1) |  |  |  |  |  |  |
Money market funds | $ | 276,077 |  |  | $ | — |  |  | $ | — |  |  | $ | 276,077 |
Certificates of deposit | — |  |  | 143,471 |  |  | — |  |  | 143,471 |
Commercial paper | — |  |  | 216,525 |  |  | — |  |  | 216,525 |
Corporate bonds | — |  |  | 267,491 |  |  | — |  |  | 267,491 |
U.S. government and agency securities | — |  |  | 134,280 |  |  | — |  |  | 134,280 |
Total unrestricted cash equivalents and short-term investments | 276,077 |  |  | 761,767 |  |  | — |  |  | 1,037,844 |
Restricted cash equivalents and investments(2) |  |  |  |  |  |  |
Money market funds | 47,264 |  |  | — |  |  | — |  |  | 47,264 |
Certificates of deposit | — |  |  | 104,370 |  |  | — |  |  | 104,370 |
Commercial paper | — |  |  | 922,364 |  |  | — |  |  | 922,364 |
Corporate bonds | — |  |  | 15,037 |  |  | — |  |  | 15,037 |
U.S. government and agency securities | — |  |  | 844,063 |  |  | — |  |  | 844,063 |
Total restricted cash equivalents and investments | 47,264 |  |  | 1,885,834 |  |  | — |  |  | 1,933,098 |
Total financial assets | $ | 323,341 |  |  | $ | 2,647,601 |  |  | $ | — |  |  | $ | 2,970,942 |
_______________ (1)$439.2 million of cash and $360.1 million of money market deposit accounts are not subject to recurring fair value measurement and therefore excluded from this table. However, these balances are included within the $1.8 billion of cash and cash equivalents and short-term investments on the condensed consolidated balance sheets. (2)$3.0 million of restricted cash is not subject to recurring fair value measurement and is therefore excluded from this table. However, this balance is included within the $1.9 billion of restricted cash and cash equivalents and restricted investments on the condensed consolidated balance sheets.

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 Reference 2: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 2 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-2 + Details
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