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Marketable Securities | 6 Months Ended
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Jun. 30, 2024
Marketable Securities [Abstract] |
Marketable Securities | 3. Marketable Securities The following tables provide the amortized cost and fair value of the Company’s available-for-sale securities by security type (in thousands):
|  | June 30, 2024 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Commercial paper |  | $ | 105,591 |  |  | $ | — |  |  | $ | (146 | ) |  | $ | 105,445 |
Corporate bonds |  |  | 321,594 |  |  |  | 24 |  |  |  | (1,235 | ) |  |  | 320,383 |
Government and agency securities |  |  | 124,967 |  |  |  | 8 |  |  |  | (212 | ) |  |  | 124,763 |
U.S. treasury bills |  |  | 29,713 |  |  |  | — |  |  |  | (10 | ) |  |  | 29,703 |
|  | $ | 581,865 |  |  | $ | 32 |  |  | $ | (1,603 | ) |  | $ | 580,294 |
|  | December 31, 2023 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
Commercial paper |  | $ | 67,098 |  |  | $ | 26 |  |  | $ | (44 | ) |  | $ | 67,080 |
Corporate bonds |  |  | 193,876 |  |  |  | 328 |  |  |  | (255 | ) |  |  | 193,949 |
Government and agency securities |  |  | 89,044 |  |  |  | 58 |  |  |  | (75 | ) |  |  | 89,027 |
U.S. treasury bills |  |  | 34,469 |  |  |  | 7 |  |  |  | (14 | ) |  |  | 34,462 |
|  | $ | 384,487 |  |  | $ | 419 |  |  | $ | (388 | ) |  | $ | 384,518 |
The following table summarizes the amortized cost and fair value of the Company’s available-for-sale securities by contractual maturity (in thousands):
|  | June 30, 2024 |
|  | Amortized Cost |  |  | Fair Value |
Due within one year |  | $ | 423,126 |  |  | $ | 422,244 |
Due after one year through three years |  |  | 158,739 |  |  |  | 158,050 |
|  | $ | 581,865 |  |  | $ | 580,294 |
The Company’s available-for-sale securities are classified as current assets as they are readily available to be converted to cash and for use in the Company’s current operations. There were no credit losses recorded during the three and six months ended June 30, 2024 and 2023. Interest income for the three months ended June 30, 2024 and 2023 was $8.1 million and $5.1 million, respectively. Interest income for the six months ended June 30, 2024 and 2023 was $16.6 million and $10.1 million, respectively.

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- Definition The entire disclosure for investments in certain debt and equity securities. + References Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef -Topic 940 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/940-320/tableOfContent Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Name Regulation S-K (SK) -Number 229 -Section 1403 -Paragraph b -Publisher SEC Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/320/tableOfContent Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 320 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147481800/320-10-50-10 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 820 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 6B -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B Reference 7: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 942 -SubTopic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/942-320/tableOfContent + Details
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