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Marketable Securities | 12 Months Ended
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Dec. 31, 2021
Investments, Debt and Equity Securities [Abstract] |
Marketable Securities | 3. Marketable Securities The following tables summarize the fair values of the Company’s marketable securities (in thousands):
| December 31, 2021 |
| Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
U.S. treasury securities | $ | 446,878 |  |  | $ | - |  |  | $ | (443 | ) |  | $ | 446,435 |
Corporate notes and bonds |  | 125,845 |  |  |  | 5 |  |  |  | (246 | ) |  |  | 125,604 |
U.S. agency obligations |  | 54,122 |  |  |  | - |  |  |  | (115 | ) |  |  | 54,007 |
Commercial paper |  | 10,995 |  |  |  | - |  |  |  | - |  |  |  | 10,995 |
Municipal bonds |  | 3,045 |  |  |  | - |  |  |  | (1 | ) |  |  | 3,044 |
Total marketable securities | $ | 640,885 |  |  | $ | 5 |  |  | $ | (805 | ) |  | $ | 640,085 |
| December 31, 2020 |
| Amortized Cost |  |  | Unrealized Gains |  |  | Unrealized Losses |  |  | Fair Value |
Corporate notes and bonds | $ | 155,401 |  |  | $ | 360 |  |  | $ | (21 | ) |  | $ | 155,740 |
Commercial paper |  | 63,503 |  |  |  | 27 |  |  |  | (24 | ) |  |  | 63,506 |
U.S. agency obligations |  | 32,520 |  |  |  | - |  |  |  | (10 | ) |  |  | 32,510 |
Total marketable securities | $ | 251,424 |  |  | $ | 387 |  |  | $ | (55 | ) |  | $ | 251,756 |
Realized gains and losses were not material for the years ended December 31, 2021, 2020, and 2019. Marketable securities in an unrealized loss position had a fair value of $618.3 million and an immaterial amount of unrealized losses as of December 31, 2021, and a fair value of $91.5 million and an immaterial amount of unrealized losses as of December 31, 2020. No marketable securities were in a continuous unrealized loss position for more than twelve months as of December 31, 2021 and 2020. The following table summarizes the contractual maturities of the Company’s marketable securities (in thousands):
| December 31, 2021 |  |  | December 31, 2020 |
| Amortized Cost |  |  | Fair Value |  |  | Amortized Cost |  |  | Fair Value |
Due within one year | $ | 488,565 |  |  | $ | 488,256 |  |  | $ | 180,320 |  |  | $ | 180,520 |
Due after one year through five years |  | 152,320 |  |  |  | 151,829 |  |  |  | 71,104 |  |  |  | 71,236 |
Total | $ | 640,885 |  |  | $ | 640,085 |  |  | $ | 251,424 |  |  | $ | 251,756 |

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2209399 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 946 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2324412 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 940 -SubTopic 320 -URI http://asc.fasb.org/subtopic&trid=2176304 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher SEC -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph (b) + Details
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