The classifications within the fair value hierarchy of our financial assets that were measured and recorded at fair value on a recurring basis were as follows (in thousands):


	March 31, 2024
	Level 1		Level 2		Total
Commercial paper	$	—	$	203,117	$	203,117
Corporate bonds	—		803,968		803,968
U.S. Treasury and government-sponsored enterprises	—		382,460		382,460
Municipal bonds	—		7,848		7,848
Total debt securities available-for-sale	—		1,397,393		1,397,393
Money market funds	133,132		—		133,132
Certificates of deposit	—		62,273		62,273
Total financial assets carried at fair value	$	133,132	$	1,459,666	$	1,592,798


	December 31, 2023
	Level 1		Level 2		Total
Commercial paper	$	—	$	214,016	$	214,016
Corporate bonds	—		868,245		868,245
U.S. Treasury and government-sponsored enterprises	—		407,321		407,321
Municipal bonds	—		7,841		7,841
Total debt securities available-for-sale	—		1,497,423		1,497,423
Money market funds	154,287		—		154,287
Certificates of deposit	—		72,309		72,309
Total financial assets carried at fair value	$	154,287	$	1,569,732	$	1,724,019