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Cash and Cash Equivalents, and Investments and Fair Value Measurements (Tables)

3 Months Ended

Mar. 31, 2022

Cash and Cash Equivalents [Abstract]

Cash, Cash Equivalents and Investments

The following tables show our cash and cash equivalents, and investments’ fair value level classification, adjusted cost, unrealized gain, unrealized loss and fair value as of March 31, 2022 and December 31, 2021 (in thousands except for fair value levels):

			March 31, 2022
			Fair Value Level						Adjusted Cost						Unrealized Gain						Unrealized Loss						Fair Value
Cash and cash equivalents:
Cash									$	39,413					$	—					$	—					$	39,413
Money market funds			Level 1						228,318						—						—						228,318
Total cash and cash equivalents									$	267,731					$	—					$	—					$	267,731
Short-term investments:
Commercial paper			Level 2						$	86,583					$	—					$	(443)					$	86,140
Corporate debt securities			Level 2						765,556						9						(6,045)						759,520
U.S. treasury securities			Level 1						54,718						—						(436)						54,282
Agency bonds			Level 2						15,501						—						(12)						15,489
Total short-term investments									$	922,358					$	9					$	(6,936)					$	915,431
Long-term investments:
Corporate debt securities			Level 2						$	346,032					$	—					$	(7,939)					$	338,093
U.S. treasury securities			Level 1						99,294						—						(1,974)						97,320
Total long-term investments									$	445,326					$	—					$	(9,913)					$	435,413

			December 31, 2021
			Fair Value Level						Adjusted Cost						Unrealized Gain						Unrealized Loss						Fair Value
Cash and cash equivalents:
Cash									$	30,324					$	—					$	—					$	30,324
Money market funds			Level 1						823,754						—						—						823,754
Total cash and cash equivalents									$	854,078					$	—					$	—					$	854,078
Short-term investments:
Commercial paper			Level 2						$	124,211					$	2					$	(33)					$	124,180
Corporate debt securities			Level 2						552,609						36						(546)						552,099
Agency bonds			Level 2						15,500						2						—						15,502
Total short-term investments									$	692,320					$	40					$	(579)					$	691,781
Long-term investments:
Corporate debt securities			Level 2						$	724,517					$	—					$	(3,277)					$	721,240
U.S. treasury securities			Level 1						24,860						—						(107)						24,753
Total long-term investments									$	749,377					$	—					$	(3,384)					$	745,993

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, 2022 (in thousands):

			Adjusted Cost						Fair Value
Due in 1 year or less			$	922,358					$	915,431
Due in 1-2 years			445,326						435,413
Investments not due at a single maturity date			228,318						228,318
Total			$	1,596,002					$	1,579,162

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