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INVESTMENTS
 12 Months Ended
Dec. 31, 2023
Investments, Debt and Equity Securities [Abstract]  
INVESTMENTS
4.    INVESTMENTS
Investments Measured at Fair Value on a Recurring Basis
The following table summarizes our investments measured at fair value on a recurring basis by balance sheet classification and investment type:
December 31, 2023December 31, 2022
Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses 		Fair
Value - Level 1		Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses 		Fair
Value - Level 1
Cash equivalents—money market funds$186,396 $— $— $186,396 $304,750 $— $— $304,750 
Cash equivalents—U.S. Treasury securities448,447 78 — 448,525 — — — — 
Total cash equivalents634,843 78 — 634,921 304,750 — — 304,750 
Marketable securities—U.S. Treasury securities65,765 — (19)65,746 460,372 26 (744)459,654 
Total$700,608 $78 $(19)$700,667 $765,122 $26 $(744)$764,404 
Gross realized gains and losses related to our cash equivalents and marketable securities were not material for the years ended December 31, 2023, 2022, and 2021.
The following table presents the cost basis and fair value of our AFS securities by contractual maturity date:
December 31, 2023December 31, 2022
Amortized
Cost		Fair
Value		Amortized
Cost		Fair
Value
Due in one year or less$65,765 $65,746 $460,372 $459,654 
Investments in an unrealized loss position consisted of the following:
December 31, 2023December 31, 2022
Fair
Value		Gross
Unrealized
Losses 		Fair
Value		Gross
Unrealized
Losses
U.S. Treasury securities$65,746 $(19)$356,767 $(744)
As of December 31, 2023 and 2022, our AFS marketable securities were comprised of U.S. Treasury securities, which are backed by the full faith and credit of the U.S. government. As a result, there were no credit or non-credit impairment losses recorded during the years ended December 31, 2023, 2022, or 2021.
Investments Measured at Fair Value on a Nonrecurring Basis
In August 2023, we acquired an approximate 7% ownership interest in a privately held company, which is measured and accounted for using the fair value measurement alternative basis. This investment is classified within other assets in the Consolidated Balance Sheets. The carrying value of the investment was $1,701 as of December 31, 2023.
Our existing equity investments are remeasured at fair value on a nonrecurring basis when an identifiable event or change in circumstance may have a significant adverse impact on its fair value. No such events or changes occurred during the years ended December 31, 2023, 2022, or 2021.