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Marketable Securities (Tables)

3 Months Ended

Mar. 31, 2021

Marketable Securities

Schedule of marketable securities


					Gross			Gross
		Amortized			Unrealized			Unrealized
March 31, 2021		Cost			Gains			Losses			Fair Value
(in thousands)
Money Market Funds		$	165,350		$	—		$	—		$	165,350
Corporate Securities			73,922			12			(5)			73,929
Government Securities			319,931			107			(7)			320,031
		$	559,203		$	119		$	(12)		$	559,310

Reported as
Cash and cash equivalents											$	165,350
Marketable securities												393,960
Total investments											$	559,310



					Gross			Gross
		Amortized			Unrealized			Unrealized
December 31, 2020		Cost			Gains			Losses			Fair Value
(in thousands)
Money Market Funds		$	158,937		$	—		$	—		$	158,937
Corporate Securities			119,782			57			(6)			119,833
Government Securities			315,319			37			(3)			315,353
		$	594,038		$	94		$	(9)		$	594,123

Reported as
Cash and cash equivalents											$	158,937
Marketable securities												435,186
Total investments											$	594,123

Schedule of maturities of marketable securities


		Amortized			Estimated
March 31, 2021		Cost			Fair Value
(in thousands)
Mature in one year or less		$	368,762		$	368,878
Mature within two years			25,091			25,082
		$	393,853		$	393,960

Schedule of unrealized losses on available-for-sale investments

The unrealized losses on available-for-sale investments and their related fair values as of March 31, 2021 and December 31, 2020 are as follows:


		Less than 12 months						12 months or greater
					Unrealized						Unrealized
March 31, 2021		Fair value			losses			Fair value			losses
(in thousands)
Corporate Securities		$	4,102		$	(2)		$	3,066		$	(3)
Government Securities			—			—			14,990			(7)
		$	4,102		$	(2)		$	18,056		$	(10)



		Less than 12 months						12 months or greater
					Unrealized						Unrealized
December 31, 2020		Fair value			losses			Fair value			losses
(in thousands)
Corporate Securities		$	15,843		$	(6)		$	—		$	—
Government Securities			40,802			(3)			—			—
		$	56,645		$	(9)		$	—		$	—

Schedule of net gains and losses


		Three Months Ended
		March 31,
		2021			2020
Net gains (losses) recognized on equity securities		$	12,981		$	(2,336)
Less: net gains recognized on equity securities redeemed			(1)			—
Unrealized gains (losses) recognized on equity securities		$	12,980		$	(2,336)