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Cash and Investments in Marketable Securities | 6 Months Ended
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Jun. 30, 2023
Fair Value Disclosures [Abstract] |
Cash and Investments in Marketable Securities | Cash and Investments in Marketable Securities Cash and investments in marketable securities, including cash equivalents, are as follows (in thousands):
| Estimated Fair Value at
| June 30, 2023 |  | December 31, 2022
Cash and cash equivalents | $ | 50,728 |  |  | $ | 88,227 |
Short-term investments | 358,704 |  |  | 416,750 |
Total cash and investments in marketable securities | $ | 409,432 |  |  | $ | 504,977 |
Our portfolio of cash and investments in marketable securities includes (in thousands):
|  | Fair Value Hierarchy Level |  | June 30, 2023 |  | December 31, 2022
|  |  |  | Amortized Cost |  | Gross Unrealized Gains |  | Gross Unrealized Losses |  | Fair Value |  | Fair Value
Corporate notes and bonds |  | 2 |  | $ | 21,466 |  |  | $ | — |  |  | $ | (70) |  |  | $ | 21,396 |  |  | $ | 83,522 |
Corporate commercial paper |  | 2 |  | 304,389 |  |  | — |  |  | (370) |  |  | 304,019 |  |  | 344,204 |
Obligations of U.S. government agencies |  | 2 |  | 25,792 |  |  | — |  |  | (5) |  |  | 25,787 |  |  | — |
Available-for-sale investments |  |  |  | $ | 351,647 |  |  | $ | — |  |  | $ | (445) |  |  | $ | 351,202 |  |  | $ | 427,726 |
Money market funds |  | 1 |  |  |  |  |  |  |  | 38,597 |  |  | 47,054 |
Certificates of deposit |  | 2 |  |  |  |  |  |  |  | 7,502 |  |  | 21,399 |
Cash |  | N/A |  |  |  |  |  |  |  | 12,131 |  |  | 8,798 |
Total cash and investments in marketable securities |  | $ | 409,432 |  |  | $ | 504,977 |
For the three and six months ended June 30, 2023 and 2022, there were no transfers between Level 1 and Level 2 of the fair value hierarchy. At December 31, 2022, our gross unrealized losses totaled $1.8 million, and our gross unrealized gains were insignificant.

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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://www.xbrl.org/2009/role/commonPracticeRef -Topic 320 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//320/tableOfContent + Details
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