Cash and Cash Equivalents, and Investments (Tables)

3 Months Ended

Mar. 31, 2021

Cash and Cash Equivalents [Abstract]

The following tables show our cash and cash equivalents, and investments’ adjusted cost, unrealized gain, unrealized loss, and fair value as of March 31, 2021 and December 31, 2020 (in thousands):


	March 31, 2021
	Adjusted Cost		Unrealized Gain		Unrealized Loss		Fair Value
Cash and cash equivalents:
Cash	$	24,399	$	—	$	—	$	24,399

Money market funds	532,493		—		—		532,493
Commercial paper	99,277		1		(2)		99,276
Total cash and cash equivalents	$	656,169	$	1	$	(2)	$	656,168
Short-term investments:
Commercial paper	$	605,318	$	78	$	(32)	$	605,364
Corporate debt securities	609,912		938		(270)		610,580


Total short-term investments	$	1,215,230	$	1,016	$	(302)	$	1,215,944
Long-term investments:
Corporate debt securities	$	673,029	$	118	$	(921)	$	672,226

Agency bonds	38,996		4		(2)		38,998
Total long-term investments	$	712,025	$	122	$	(923)	$	711,224


	December 31, 2020
	Adjusted Cost		Unrealized Gain		Unrealized Loss		Fair Value
Cash and cash equivalents:
Cash	$	15,054	$	—	$	—	$	15,054
Money market funds	464,799		—		—		464,799

Total cash and cash equivalents	$	479,853	$	—	$	—	$	479,853
Short-term investments:
Commercial paper	$	204,152	$	24	$	(6)	$	204,170
Corporate debt securities	459,967		1,478		(48)		461,397


Total short-term investments	$	664,119	$	1,502	$	(54)	$	665,567
Long-term investments:
Corporate debt securities	$	484,275	$	605	$	(283)	$	484,597

Agency bonds	38,995		36		—		39,031
Total long-term investments	$	523,270	$	641	$	(283)	$	523,628

Schedule of Available-for-sale Securities Reconciliation

The following table shows our cash equivalents and investments' adjusted cost and fair value by contractual maturity as of March 31, 2021 (in thousands):


	Adjusted Cost		Fair Value
Due in 1 year or less	$	1,314,507	$	1,315,220
Due in 1-2 years	712,025		711,224
Investments not due at a single maturity date	532,493		532,493
Total	$	2,559,025	$	2,558,937