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Financial Instruments | 3 Months Ended
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Mar. 31, 2020
Investments, All Other Investments [Abstract] |
Financial Instruments | Financial InstrumentsThe fair value and amortized cost of cash equivalents and available-for-sale securities by major security type as of March 31, 2020 and as of December 31, 2019 are presented in the following tables:
| March 31, 2020 |  |  |  |  |  |
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
| (in thousands) |  |  |  |  |  |
Money market funds | $ | 113,143 |  |  | $ | — |  |  | $ | — |  |  | $ | 113,143 |
Commercial paper | 25,786 |  |  | — |  |  | — |  |  | 25,786 |
Corporate bonds | 190,625 |  |  | 505 |  |  | (276) |  |  | 190,854 |
U.S. treasury securities | 178,695 |  |  | 1,618 |  |  | — |  |  | 180,313 |
U.S. agency securities | 28,986 |  |  | 207 |  |  | (1) |  |  | 29,192 |
Total cash equivalents and investments | $ | 537,235 |  |  | $ | 2,330 |  |  | $ | (277) |  |  | $ | 539,288 |
Classified as: |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  | $ | 122,141 |
Short-term investments |  |  |  |  |  |  | 357,026 |
Long-term investments |  |  |  |  |  |  | 60,121 |
Total cash equivalents and investments |  |  |  |  |  |  | $ | 539,288 |
| December 31, 2019 |  |  |  |  |  |
| Amortized Cost |  | Unrealized Gains |  | Unrealized Losses |  | Fair Value
| (in thousands) |  |  |  |  |  |
Money market funds | $ | 122,900 |  |  | $ | — |  |  | $ | — |  |  | $ | 122,900 |
Corporate bonds | 204,144 |  |  | 871 |  |  | (4) |  |  | 205,011 |
U.S. treasury securities | 181,340 |  |  | 557 |  |  | (3) |  |  | 181,894 |
U.S. agency securities | 25,658 |  |  | 167 |  |  | (1) |  |  | 25,824 |
Certificates of deposit | 1,000 |  |  | — |  |  | — |  |  | 1,000 |
Total cash equivalents and investments | $ | 535,042 |  |  | $ | 1,595 |  |  | $ | (8) |  |  | $ | 536,629 |
Classified as: |  |  |  |  |  |  |
Cash equivalents |  |  |  |  |  |  | $ | 122,900 |
Short-term investments |  |  |  |  |  |  | 355,407 |
Long-term investments |  |  |  |  |  |  | 58,322 |
Total cash equivalents and investments |  |  |  |  |  |  | $ | 536,629 |
As of March 31, 2020, the remaining contractual maturities of available-for-sale securities were less than 3 years. There have been no significant realized losses on available-for-sale securities for the period presented. As of March 31, 2020, unrealized losses on available-for-sale investments are not attributed to credit risk. The Company believes that it is more-likely-than-not that investments in an unrealized loss position will be held until maturity or the recovery of the cost basis of the investment. The Company believes that an allowance for credit losses is unnecessary because the unrealized losses on certain of the Company’s marketable securities are due to market factors. To date, the Company has not recorded any impairment charges on marketable securities.

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- Definition The entire disclosure for financial instruments. This disclosure includes, but is not limited to, fair value measurements of short and long term marketable securities, international currencies forward contracts, and auction rate securities. Financial instruments may include hedging and non-hedging currency exchange instruments, derivatives, securitizations and securities available for sale at fair value. Also included are investment results, realized and unrealized gains and losses as well as impairments and risk management disclosures. + References No definition available. + Details
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- References No definition available. + Details
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