| Summary of Cash Equivalents and Marketable Securities Recorded at Fair Value |
The following table summarizes cash equivalents and marketable securities held at June 30, 2024 and December 31, 2023 (in thousands), which are recorded at fair value. The table below excludes $188.0 million and $197.8 million of cash at June 30, 2024 and December 31, 2023, respectively.
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Amortized
Cost |
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Gross
Unrealized
Gains |
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Gross
Unrealized
Losses |
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Fair Value |
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June 30, 2024 |
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Cash equivalents: |
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Money market funds |
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$ |
139,868 |
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$ |
— |
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$ |
— |
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$ |
139,868 |
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Certificates and term deposits |
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|
25,351 |
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— |
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— |
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25,351 |
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Commercial paper |
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125,953 |
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— |
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(58 |
) |
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|
125,895 |
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Corporate debt securities |
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1,424 |
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— |
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— |
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1,424 |
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U.S. Treasury securities |
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3,974 |
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— |
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— |
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3,974 |
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Total cash equivalents |
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296,570 |
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— |
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(58 |
) |
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|
296,512 |
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Marketable securities: |
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U.S. Treasury securities |
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11,883 |
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— |
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(9 |
) |
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11,874 |
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Corporate debt securities |
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1,013,028 |
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|
669 |
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(2,517 |
) |
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|
1,011,180 |
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Certificates and term deposits |
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|
132,499 |
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— |
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— |
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|
132,499 |
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Government-sponsored enterprise securities |
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243,521 |
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22 |
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(927 |
) |
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|
242,616 |
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Commercial paper |
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130,273 |
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— |
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(79 |
) |
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130,194 |
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Total marketable securities |
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1,531,204 |
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|
691 |
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(3,532 |
) |
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1,528,363 |
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Total cash equivalents and marketable securities |
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$ |
1,827,774 |
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$ |
691 |
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$ |
(3,590 |
) |
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$ |
1,824,875 |
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December 31, 2023 |
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Cash equivalents: |
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Money market funds |
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$ |
185,990 |
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$ |
— |
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$ |
— |
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$ |
185,990 |
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U.S. Treasury securities |
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5,731 |
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— |
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— |
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5,731 |
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Total cash equivalents |
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191,721 |
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— |
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— |
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191,721 |
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Marketable securities: |
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U.S. Treasury securities |
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22,963 |
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45 |
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— |
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23,008 |
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Corporate debt securities |
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883,550 |
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3,367 |
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(1,559 |
) |
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|
885,358 |
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Certificates and term deposits |
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|
47,282 |
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— |
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— |
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|
47,282 |
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Government-sponsored enterprise securities |
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|
195,106 |
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|
377 |
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(352 |
) |
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|
195,131 |
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Commercial paper |
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155,403 |
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32 |
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(26 |
) |
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155,409 |
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Total marketable securities |
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1,304,304 |
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|
3,821 |
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(1,937 |
) |
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|
1,306,188 |
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Total cash equivalents and marketable securities |
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$ |
1,496,025 |
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$ |
3,821 |
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$ |
(1,937 |
) |
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$ |
1,497,909 |
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