Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Investments, All Other Investments [Abstract]

Schedule of Fair Value and Amortized Cost

The 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