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

9 Months Ended

Sep. 30, 2022

Cash and Cash Equivalents [Abstract]

Schedule of 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 September 30, 2022 and December 31, 2021 (in thousands except for fair value levels):


	September 30, 2022
	Fair Value Level	Adjusted Cost		Unrealized Gain		Unrealized Loss		Fair Value
Cash and cash equivalents:
Cash		$	35,131	$	—	$	—	$	35,131

Money market funds	Level 1	34,218		—		—		34,218

Total cash and cash equivalents		$	69,349	$	—	$	—	$	69,349
Short-term investments:
Commercial paper	Level 2	$	11,720	$	—	$	(114)	$	11,606
Corporate debt securities	Level 2	770,221				(12,945)		757,276
U.S. treasury securities	Level 1	104,671		—		(2,145)		102,526

Total short-term investments		$	886,612	$	—	$	(15,204)	$	871,408
Long-term investments:
Corporate debt securities	Level 2	$	156,687	$	—	$	(4,065)	$	152,622
U.S. treasury securities	Level 1	101,890		—		(1,907)		99,983
Agency bonds	Level 2	34,119		57		—		34,176
Total long-term investments		$	292,696	$	57	$	(5,972)	$	286,781


	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 September 30, 2022 (in thousands):


	Adjusted Cost		Fair Value
Due in 1 year or less	$	886,612	$	871,408
Due in 1-2 years	292,696		286,781
Investments not due at a single maturity date	34,218		34,218
Total	$	1,213,526	$	1,192,407