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Fair Value Measurements (Tables) | 3 Months Ended
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Mar. 31, 2022
Fair Value Disclosures [Abstract] |
Schedule of Financial Instruments Measured at Fair Value on Recurring Basis | The following tables set forth the Company’s financial instruments (excluding restricted cash) that were measured at fair value on a recurring basis by level within the fair value hierarchy (in thousands):
|  | March 31, 2022 |
|  | Total |  |  | Level 1 (Quoted Prices in Active Markets For Identical Assets) |  |  | Level 2 (Significant Other Observable Remaining Inputs) |  |  | Level 3 (Significant Other Unobservable Remaining Inputs) |
Money market funds |  | $ | 475,934 |  |  | $ | 475,934 |  |  | $ | - |  |  | $ | - |
U.S. treasury securities |  |  | 321,642 |  |  |  | - |  |  |  | 321,642 |  |  |  | - |
Corporate securities and commercial paper |  |  | 524,051 |  |  |  | - |  |  |  | 524,051 |  |  |  | - |
Certificates of deposit |  |  | 20,743 |  |  |  |  |  |  | 20,743 |  |  |  |
Total assets measured at fair value |  | $ | 1,342,370 |  |  | $ | 475,934 |  |  | $ | 866,436 |  |  | $ | - |
|  | December 31, 2021 |
|  | Total |  |  | Level 1 (Quoted Prices in Active Markets For Identical Assets) |  |  | Level 2 (Significant Other Observable Remaining Inputs) |  |  | Level 3 (Significant Other Unobservable Remaining Inputs) |
Money market funds |  | $ | 147,914 |  |  | $ | 147,914 |  |  | $ | - |  |  | $ | - |
U.S. treasury securities |  |  | 112,170 |  |  |  | - |  |  |  | 112,170 |  |  |  | - |
Corporate securities and commercial paper |  |  | 421,214 |  |  |  | - |  |  |  | 421,214 |  |  |  | - |
Total assets measured at fair value |  | $ | 681,298 |  |  | $ | 147,914 |  |  | $ | 533,384 |  |  | $ | - |
Schedule of Investments Classified as Available for Sale Securities with Contractual Maturities | Classified as (with contractual maturities):
|  | March 31, 2022 |  |  | December 31, 2021 |
Cash and cash equivalents |  | $ | 548,783 |  |  | $ | 147,914 |
Short-term investments (due within one year) |  |  | 664,751 |  |  |  | 351,394 |
Long-term investments (due between one and three years) |  |  | 128,836 |  |  |  | 181,990 |
Total cash, cash equivalents and investments in marketable securities |  | $ | 1,342,370 |  |  | $ | 681,298 |
Schedule of Fair Value and Amortized Cost of Investments in Marketable Securities by Major Security Type | The fair value and amortized cost of investments in marketable securities by major security type as of March 31, 2022 and December 31, 2021 are presented in the tables that follow (in thousands):
|  | Amortized Cost |  |  | Unrealized Gain |  |  | Unrealized Loss |  |  | Fair Value |
As of March 31, 2022: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 475,934 |  |  | $ | - |  |  | $ | - |  |  | $ | 475,934 |
U.S. treasury securities |  |  | 323,034 |  |  |  | 7 |  |  |  | (1,399 | ) |  |  | 321,642 |
Corporate securities and commercial paper |  |  | 527,328 |  |  |  | 24 |  |  |  | (3,301 | ) |  |  | 524,051 |
Certificates of deposit |  |  | 20,734 |  |  |  | 10 |  |  |  | (1 | ) |  |  | 20,743 |
Total |  | $ | 1,347,030 |  |  | $ | 41 |  |  | $ | (4,701 | ) |  | $ | 1,342,370 |
|  | Amortized Cost |  |  | Unrealized Gain |  |  | Unrealized Loss |  |  | Fair Value |
As of December 31, 2021: |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 147,914 |  |  | $ | - |  |  | $ | - |  |  | $ | 147,914 |
U.S. treasury securities |  |  | 112,473 |  |  |  | 1 |  |  |  | (304 | ) |  |  | 112,170 |
Corporate securities and commercial paper |  |  | 422,172 |  |  |  | 3 |  |  |  | (961 | ) |  |  | 421,214 |
Total |  | $ | 682,559 |  |  | $ | 4 |  |  | $ | (1,265 | ) |  | $ | 681,298 |

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- Definition Tabular disclosure of assets, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, by class that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=123874694&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of the components of cash, cash equivalents, and investments. + References No definition available. + Details
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