| Schedule of Investments by Security Type |
Cash, cash equivalents and marketable securities consisted of the following (in thousands): | | | | | | | | | | | | | | | | | | | | | | | | | 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 | |
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| Schedule of Fair Value and Gross Unrealized Losses of Investments Available-for-Sale in an Unrealized Loss Position |
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) | |
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| Schedule of Fair Value of Cash Equivalents and Investments by Contractual Maturity |
The fair values of debt securities available-for-sale by contractual maturity were as follows (in thousands): | | | | | | | | | | | | | 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 | | | | | |
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