Cash Equivalents and Marketable Securities (Tables)

12 Months Ended

Dec. 31, 2020

The table below summarizes the Company’s cash equivalents and marketable securities (in thousands):


	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Estimated Fair Value
December 31, 2020
Cash equivalents:
Money market funds	$	53,165	$	—	$	—	$	53,165

Total	53,165		—		—		53,165
Marketable securities:
Commercial paper	213,500		41		(8)		213,533
Corporate debt securities	59,575		16		(17)		59,574
Certificates of deposit	12,311		—		—		12,311
Asset-backed securities	17,905		10		(7)		17,908
U.S. government-sponsored entity debt securities	257,284		19		(5)		257,298
Total	560,575		86		(37)		560,624
Total cash equivalents and marketable securities	$	613,740	$	86	$	(37)	$	613,789

December 31, 2019
Cash equivalents:
Money market funds	$	30,496	$	—	$	—	$	30,496
Commercial paper	2,998		1		—		2,999
Total	33,494		1		—		33,495
Marketable securities:
Commercial paper	155,230		145		(7)		155,368
Corporate debt securities	94,905		115		(3)		95,017
U.S. government-sponsored entity debt securities	53,411		91		(9)		53,493
Total	303,546		351		(19)		303,878
Total cash equivalents and marketable securities	$	337,040	$	352	$	(19)	$	337,373

The fair value of marketable securities by contractual maturity were as follows (in thousands):


	December 31,
	2020		2019
Maturing in one year or less	$	510,094	$	282,046
Maturing after one year through five years	50,530		21,832
Total	$	560,624	$	303,878