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Cash Equivalents and Marketable Securities

12 Months Ended

Dec. 31, 2020

Cash Equivalents and Marketable Securities

Cash Equivalents and Marketable Securities

3. Cash Equivalents and Marketable Securities

Cash equivalents and marketable securities consisted of the following at December 31, 2020 (in thousands):


			Allowance		Gross		Gross
	Amortized		for Credit		Unrealized		Unrealized		Fair
December 31, 2020	Cost		Losses		Gains		Losses		Value
Cash equivalents and marketable securities:
Money market funds	$	139,682	$	—	$	—	$	—	$	139,682
U.S. Treasuries		180,376		—		8		(11)		180,373
Government agency securities		107,665		—		—		(20)		107,645
Commercial paper		41,912		—		—		(8)		41,904
Corporate notes/bonds		42,185		—		10		(25)		42,170
Total	$	511,820	$	—	$	18	$	(64)	$	511,774

Cash equivalents and marketable securities consisted of the following at December 31, 2019 (in thousands):


			Gross		Gross
	Amortized		Unrealized		Unrealized		Fair
December 31, 2019	Cost		Gains		Losses		Value
Cash equivalents and marketable securities:
Money market funds	$	230,201	$	—	$	—	$	230,201
U.S. Treasuries		71,348		20		—		71,368
Government agency securities		155,484		87		—		155,571
Equity securities included in other non-current assets:
Corporate equity securities		3,667		—		—		3,667
Total	$	460,700	$	107	$	—	$	460,807

As of December 31, 2020, the Company did not hold any marketable securities that had been in an unrealized loss position for more than twelve months. Furthermore, the Company has determined that there were no material changes in the credit risk of the debt securities. As of December 31, 2020, the Company holds 62 securities with an aggregate fair value of $109.7 million that had remaining maturities between one and two years.