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Cash and Investments in Marketable Securities | 3 Months Ended
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Mar. 31, 2024
Fair Value Disclosures [Abstract] |
Cash and Investments in Marketable Securities | Note 2 — Cash and Investments in Marketable Securities Cash and investments in marketable securities, including cash equivalents, are as follows (in thousands):
|  | Estimated Fair Value at |
|  | March 31, 2024 |  |  | December 31, 2023 |
Cash and cash equivalents |  | $ | 48,642 |  |  | $ | 35,277 |
Short-term investments |  |  | 240,596 |  |  |  | 268,339 |
Long-term investments |  |  | 36,778 |  |  |  | 25,825 |
Total cash and investments in marketable securities |  | $ | 326,016 |  |  | $ | 329,441 |
Our portfolio of cash and investments in marketable securities includes (in thousands):
|  |  |  | March 31, 2024 |  |  | December 31, 2023 |
|  | Fair Value Hierarchy Level |  | Amortized Cost |  |  | Gross Unrealized Gains |  |  | Gross Unrealized Losses |  |  | Fair Value |  |  | Fair Value |
Corporate notes and bonds |  | 2 |  | $ | 75,745 |  |  | $ | 2 |  |  | $ | (163 | ) |  | $ | 75,584 |  |  | $ | 38,882 |
Corporate commercial paper |  | 2 |  |  | 211,955 |  |  |  | — |  |  |  | (261 | ) |  |  | 211,694 |  |  |  | 255,241 |
Obligations of U.S. government agencies |  | 2 |  |  | 3,457 |  |  |  | — |  |  |  | (3 | ) |  |  | 3,454 |  |  |  | — |
Available-for-sale investments |  |  |  | $ | 291,157 |  |  | $ | 2 |  |  | $ | (427 | ) |  | $ | 290,732 |  |  | $ | 294,123 |
Money market funds |  | 1 |  |  |  |  |  |  |  |  |  |  |  | 15,959 |  |  |  | 2,359 |
Certificates of deposit |  | 2 |  |  |  |  |  |  |  |  |  |  |  | 13,898 |  |  |  | 15,116 |
Cash |  | N/A |  |  |  |  |  |  |  |  |  |  |  | 5,427 |  |  |  | 17,843 |
Total cash and investments in marketable securities |  |  |  |  |  |  |  |  | $ | 326,016 |  |  | $ | 329,441 |
For the three months ended March 31, 2024 and 2023, there were no transfers between Level 1 and Level 2 of the fair value hierarchy. At December 31, 2023, our gross unrealized gains and losses 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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