
	September 30, 2024
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Debt securities available-for-sale:
Commercial paper	$	201,849	$	—	$	(2)	$	201,847
Corporate bonds	975,118		5,667		(717)		980,068
U.S. Treasury and government-sponsored enterprises	304,139		916		(430)		304,625
Municipal bonds	2,990		48		—		3,038
Total debt securities available-for-sale	1,484,096		6,631		(1,149)		1,489,578

Money market funds	179,467		—		—		179,467
Certificates of deposit	43,537		—		—		43,537
Total cash, cash equivalents and marketable securities	$	1,707,100	$	6,631	$	(1,149)	$	1,712,582


	December 31, 2023
	Amortized Cost		Gross Unrealized Gains		Gross Unrealized Losses		Fair Value
Debt securities available-for-sale:
Commercial paper	$	214,016	$	—	$	—	$	214,016
Corporate bonds	870,870		1,652		(4,277)		868,245
U.S. Treasury and government-sponsored enterprises	409,157		414		(2,250)		407,321
Municipal bonds	7,880		10		(49)		7,841
Total debt securities available-for-sale	1,501,923		2,076		(6,576)		1,497,423

Money market funds	154,287		—		—		154,287
Certificates of deposit	72,309		—		—		72,309
Total cash, cash equivalents and marketable securities	$	1,728,519	$	2,076	$	(6,576)	$	1,724,019

Interest receivable was $13.0 million and $13.1 million as of September 30, 2024 and December 31, 2023, respectively, and is included in prepaid expenses and other current assets in the accompanying Condensed Consolidated Balance Sheets.

Realized gains and losses on the sales of marketable securities were immaterial during the three and nine months ended September 30, 2024 and 2023.

We manage credit risk associated with our marketable securities portfolio through our investment policy, which limits purchases to high-quality issuers and the amount of our portfolio that can be invested in a single issuer. The fair value and gross unrealized losses on debt securities available-for-sale in an unrealized loss position were as follows (in thousands):


	September 30, 2024
	In an Unrealized Loss Position Less than 12 Months				In an Unrealized Loss Position 12 Months or Greater				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Commercial paper	$	13,735	$	(2)	$	—	$	—	$	13,735	$	(2)
Corporate bonds	37,447		(10)		214,727		(707)		252,174		(717)
U.S. Treasury and government-sponsored enterprises	40,743		(30)		101,284		(400)		142,027		(430)

Total	$	91,925	$	(42)	$	316,011	$	(1,107)	$	407,936	$	(1,149)


	December 31, 2023
	In an Unrealized Loss Position Less than 12 Months				In an Unrealized Loss Position 12 Months or Greater				Total
	Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses		Fair Value		Gross Unrealized Losses
Corporate bonds	$	255,958	$	(847)	$	281,837	$	(3,430)	$	537,795	$	(4,277)
U.S. Treasury and government-sponsored enterprises	163,339		(406)		155,452		(1,844)		318,791		(2,250)
Municipal bonds	—		—		5,951		(49)		5,951		(49)
Total	$	419,297	$	(1,253)	$	443,240	$	(5,323)	$	862,537	$	(6,576)

There were 108 and 230 debt securities available-for-sale in an unrealized loss position as of September 30, 2024 and December 31, 2023, respectively. During the nine months ended September 30, 2024, we did not record an allowance for credit losses or other impairment charges on our marketable securities. Based upon our quarterly impairment review, we determined that the unrealized losses were not attributed to credit risk but were primarily associated with changes in interest rates and market liquidity. Based on the scheduled maturities of our marketable securities, we determined that it was more likely than not that we will hold these marketable securities for a period of time sufficient for a recovery of our cost basis.


	September 30, 2024		December 31, 2023
Maturing in one year or less	$	966,157	$	768,706
Maturing after one year through five years	523,421		728,717
Total debt securities available-for-sale	$	1,489,578	$	1,497,423