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CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES | 3 Months Ended
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Mar. 31, 2022
Cash and Cash Equivalents [Abstract] |
CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES | . CASH, CASH EQUIVALENTS AND MARKETABLE SECURITIES The following table summarizes the Company’s financial assets with maturities of less than 90 days from the date of purchase included in cash equivalents in the unaudited condensed consolidated balance sheets for each of the periods indicated:
|  | As of March 31, 2022 |  |  | As of December 31, 2021 |
|  | (in thousands) |
Money market funds |  | $ | 606,498 |  |  | $ | 1,562,358 |
Commercial paper |  |  | 17,772 |  |  |  | — |
Government and government agency bonds |  |  | 132,059 |  |  |  | — |
Corporate bonds |  |  | 29,857 |  |  |  | — |
Total |  | $ | 786,186 |  |  | $ | 1,562,358 |
It is the Company’s policy to mitigate credit risk in its financial assets by maintaining a well-diversified portfolio that limits the amount of exposure as to maturity and investment type. The weighted average maturity of the Company's available-for-sale securities as of March 31, 2022 was approximately four months. The Company did no t hold any available-for-sale securities as of December 31, 2021. The following tables summarize the Company’s cash, cash equivalents and short-term investments as of the periods indicated:
|  | As of March 31, 2022 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
Cash and money market funds |  | $ | 1,054,189 |  |  | $ | — |  |  | $ | — |  |  | $ | 1,054,189 |
Commercial paper |  |  | 145,335 |  |  |  | — |  |  |  | — |  |  |  | 145,335 |
Government and government agency bonds |  |  | 602,480 |  |  |  | 13 |  |  |  | (205 | ) |  |  | 602,288 |
Corporate bonds |  |  | 187,326 |  |  |  | 21 |  |  |  | (115 | ) |  |  | 187,232 |
Certificates of deposit |  |  | 24,381 |  |  |  | — |  |  |  | — |  |  |  | 24,381 |
Total cash, cash equivalents and investments |  | $ | 2,013,711 |  |  | $ | 34 |  |  | $ | (320 | ) |  | $ | 2,013,425 |
As reported: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 1,233,891 |  |  | $ | 2 |  |  | $ | (16 | ) |  | $ | 1,233,877 |
Short-term investments |  |  | 779,820 |  |  |  | 32 |  |  |  | (304 | ) |  |  | 779,548 |
Total cash, cash equivalents and investments |  | $ | 2,013,711 |  |  | $ | 34 |  |  | $ | (320 | ) |  | $ | 2,013,425 |
|  | As of December 31, 2021 |
|  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |
|  | (in thousands) |
Cash and money market funds |  | $ | 2,115,869 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,115,869 |
Total cash and cash equivalents |  | $ | 2,115,869 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,115,869 |
As reported: |  |  |  |  |  |  |  |  |  |  |  |
Cash and cash equivalents |  | $ | 2,115,869 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,115,869 |
Total cash and cash equivalents |  | $ | 2,115,869 |  |  | $ | — |  |  | $ | — |  |  | $ | 2,115,869 |

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- Definition The entire disclosure of cash, cash equivalents, and debt and equity securities, including any unrealized or realized gain (loss). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 320 -URI http://asc.fasb.org/topic&trid=2196928 + Details
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