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Fair Value Measurements (Tables) | 12 Months Ended
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Dec. 31, 2020
Fair Value Disclosures [Abstract] |
Assets Measured at Fair Value On a Recurring Basis | Financial instruments measured at fair value on a recurring basis:
|  | As of December 31, 2020 |  | As of December 31, 2019
(in thousands) |  | Total |  | Level 1 |  | Level 2 |  | Total |  | Level 1 |  | Level 2
Cash equivalents |  |  |  |  |  |  |  |  |  |  |  |
Money market funds |  | $ | 5,340 |  |  | $ | 5,340 |  |  | $ | — |  |  | $ | 42,653 |  |  | $ | 42,653 |  |  | $ | — |
Commercial paper |  | 48,908 |  |  | — |  |  | 48,908 |  |  | 5,807 |  |  | — |  |  | 5,807 |
Municipal debt securities |  | 34,338 |  |  | — |  |  | 34,338 |  |  | 1,202 |  |  | — |  |  | 1,202 |
Federal agency debt securities |  | 51,400 |  |  | — |  |  | 51,400 |  |  | — |  |  | — |  |  | — |
Total cash equivalents |  | 139,986 |  |  | 5,340 |  |  | 134,646 |  |  | 49,662 |  |  | 42,653 |  |  | 7,009 |
Short-term |  |  |  |  |  |  |  |  |  |  |  |
Commercial paper |  | 229,821 |  |  | — |  |  | 229,821 |  |  | 161,286 |  |  | — |  |  | 161,286 |
Corporate debt securities |  | 166,768 |  |  | — |  |  | 166,768 |  |  | 145,975 |  |  | — |  |  | 145,975 |
Federal agency debt securities |  | 48,598 |  |  | — |  |  | 48,598 |  |  | 13,515 |  |  | — |  |  | 13,515 |
Municipal debt securities |  | 87,290 |  |  | — |  |  | 87,290 |  |  | 12,237 |  |  | — |  |  | 12,237 |
US Treasury Bonds |  | — |  |  | — |  |  | — |  |  | 2,915 |  |  | — |  |  | 2,915 |
Total short-term |  | 532,477 |  |  | — |  |  | 532,477 |  |  | 335,928 |  |  | — |  |  | 335,928 |
Long-term |  |  |  |  |  |  |  |  |  |  |  |
Corporate debt securities |  | — |  |  | — |  |  | — |  |  | 15,396 |  |  | — |  |  | 15,396 |
US Treasury Bonds |  | — |  |  | — |  |  | — |  |  | 146 |  |  | — |  |  | 146 |
Total long-term |  | — |  |  | — |  |  | — |  |  | 15,542 |  |  | — |  |  | 15,542 |
Total financial instruments |  | $ | 672,463 |  |  | $ | 5,340 |  |  | $ | 667,123 |  |  | $ | 401,132 |  |  | $ | 42,653 |  |  | $ | 358,479 |
Debt Instrument, Fair Value Disclosure | Carrying value and estimated fair value of long-term debt, including current maturities and without reduction for related costs:
|  | As of December 31, 2020 |  | As of December 31, 2019 |  |
(in thousands) |  | Carrying Value |  | Estimated Fair Value |  | Carrying Value |  | Estimated Fair Value |  | Fair Value Level
Non-publicly held debt |  | $ | 1,555,637 |  |  | $ | 1,191,008 |  |  | $ | 1,329,882 |  |  | $ | 1,140,232 |  |  | 3

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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=117815213&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=117815213&loc=d3e19207-110258 + Details
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- Definition Tabular disclosure of liabilities, 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). Where the quoted price in an active market for the identical liability is not available, the Level 1 input is the quoted price of an identical liability when traded as an asset. + 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=117815213&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=117815213&loc=d3e19207-110258 + Details
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