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FINANCIAL INSTRUMENTS (Tables)
12 Months Ended
Dec. 31, 2024
Investments, Debt and Equity Securities [Abstract]  
Schedule of Cash Cash Equivalents and Available-for-Sale Securities by Significant Investment Category
The following tables show the Company’s cash, cash equivalents and available-for-sale securities by significant investment category as of December 31, 2024 and 2023, respectively:
December 31, 2024
Amortized CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Aggregate Fair ValueCash and Cash Equivalents
Short-term
Marketable
Securities (1)
Long-term
Marketable
Securities (2)
Level 1:
Cash$329,619 $— $— $329,619 $329,619 $— $— 
Level 2:
Money market instruments613,223 — — 613,223 613,223 — — 
Corporate debt securities503,202 2,410 (390)505,222 — 168,104 337,118 
U.S. government agency securities72,027 359 (33)72,353 — 896 71,457 
Asset-backed securities138,508 363 (344)138,527 — 25,864 112,663 
Subtotal1,326,960 3,132 (767)1,329,325 613,223 194,864 521,238 
Total$1,656,579 $3,132 $(767)$1,658,944 $942,842 $194,864 $521,238 

December 31, 2023
Amortized CostGross
Unrealized
Gains
Gross
Unrealized
Losses
Aggregate Fair ValueCash and Cash Equivalents
Short-term
Marketable
Securities (1)
Long-term
Marketable
Securities (2)
Level 1:
Cash$229,676 $— $— $229,676 $229,676 $— $— 
Level 2:
Money market instruments499,483 — — 499,483 499,483 — — 
Corporate debt securities587,896 3,476 (1,996)589,376 — 193,251 396,125 
U.S. government agency securities251,952 556 (1,140)251,368 19,976 111,343 120,049 
Commercial paper20,076 — 20,081 5,992 14,089 — 
Asset-backed securities94,744 351 (134)94,961 — — 94,961 
Subtotal1,454,151 4,388 (3,270)1,455,269 525,451 318,683 611,135 
Total$1,683,827 $4,388 $(3,270)$1,684,945 $755,127 $318,683 $611,135 
(1)The Company’s short-term marketable securities mature in one year or less.
(2)The Company’s long-term marketable securities mature between one and five years.