A summary of the Company’s cash equivalents and marketable securities as of December 31, 2021 and 2020, which are recorded at fair value (and excludes $405.6 million and $395.1 million of cash at December 31, 2021 and 2020, respectively) is shown below (in thousands):


December 31, 2021	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value
Cash equivalents:
Money market funds	$	507,386	$	—	$	—		$	507,386
Corporate debt securities		—		—		—			—
Certificates of deposit		—		—		—			—
Commercial paper		9,997		—		(1	)		9,996
Total cash equivalents		517,383		—		(1	)		517,382
Marketable securities:
U.S. Treasury securities		16,238		6		(52	)		16,192
Corporate debt securities		1,173,659		10		(4,903	)		1,168,766
Certificates of deposit		45,164		—		—			45,164
Government-sponsored enterprise securities		13,334		—		(77	)		13,257
Commercial paper		212,805		—		(86	)		212,719
Total marketable securities		1,461,200		16		(5,118	)		1,456,098
Total cash equivalents and marketable securities	$	1,978,583	$	16	$	(5,119	)	$	1,973,480


December 31, 2020	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses			Fair Value

Cash equivalents:
Money market funds	$	742,958	$	—	$	—		$	742,958
Corporate debt securities		2,526		1		(24	)		2,503
Certificates of deposit		12,527		—		—			12,527
Commercial paper		15,549		—		—			15,549
Total cash equivalents		773,560		1		(24	)		773,537
Marketable securities:
U.S. Treasury securities		47,976		3		—			47,979
Corporate debt securities		324,569		43		(156	)		324,456
Certificates of deposit		25,162		—		—			25,162
Government-sponsored enterprise securities		33,738		5		(2	)		33,741
Commercial paper		90,375		—		—			90,375
Total marketable securities		521,820		51		(158	)		521,713
Total cash equivalents and marketable securities	$	1,295,380	$	52	$	(182	)	$	1,295,250

As of December 31, 2021 and 2020, the aggregate fair value of marketable securities that were in an unrealized loss position for less than twelve months was $1,311.6 million and $280.3 million, respectively. As of December 31, 2021, the aggregate fair value of marketable securities that were in an unrealized loss position for more than twelve months was $4.6 million. As of December 31,

2020, no marketable securities were in an unrealized loss position for more than twelve months. The Company has recorded a net unrealized loss of $5.0 million and $0.1 million, respectively, during the years ended December 31, 2021 and 2020 related to its marketable securities, which is included in comprehensive income (loss) on the consolidated statements of operations and comprehensive income (loss). No net unrealized loss was recorded related to its marketable securities for the year ended December 31, 2019.

The Company determined that there was no material credit risk of the above investments as of December 31, 2021. The Company has the intent and ability to hold such securities until recovery. As a result, the Company did not record any charges for credit-related impairments for its marketable securities for the years ended December 31, 2021 and 2020.