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Marketable Securities

12 Months Ended

Dec. 31, 2025

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):

		December 31, 2025
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Commercial paper		$	107,889			$	17			$	(22	)		$	107,884
Corporate bonds			772,457				2,233				(184	)			774,506
Government and agency securities			207,684				340				(34	)			207,990
U.S. treasury bills			19,824				3				—				19,827
		$	1,107,854			$	2,593			$	(240	)		$	1,110,207

		December 31, 2024
		Amortized Cost				Gross Unrealized Gains				Gross Unrealized Losses				Fair Value
Commercial paper		$	251,473			$	12			$	(176	)		$	251,309
Corporate bonds			468,673				532				(588	)			468,617
Government and agency securities			162,783				132				(29	)			162,886
U.S. treasury bills			89,741				60				(2	)			89,799
		$	972,670			$	736			$	(795	)		$	972,611

The following table summarizes the amortized cost and fair value of the Company’s available-for-sale securities by contractual maturity (in thousands):

		December 31, 2025
		Amortized Cost				Fair Value
Due within one year		$	523,630			$	524,421
Due after one year through three years			584,224				585,786
		$	1,107,854			$	1,110,207

There were no credit losses recorded during the years ended December 31, 2025, 2024 and 2023. Interest income for the years ended December 31, 2025, 2024 and 2023 was $44.8 million, $38.4 million and $23.3 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
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-URI https://asc.fasb.org/320/tableOfContent

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 320
-SubTopic 10
-Name Accounting Standards Codification
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Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Publisher FASB
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
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-Section 50
-Paragraph 6B
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-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6B

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-Name Accounting Standards Codification
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