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MARKETABLE DEBT SECURITIES
 3 Months Ended
Mar. 31, 2020
Investments, Debt and Equity Securities [Abstract]  
MARKETABLE DEBT SECURITIES MARKETABLE DEBT SECURITIES
We invest our excess cash balances in marketable debt securities and at each balance sheet date presented, we classify all of our investments in debt securities as available-for-sale and as current assets as they represent the investment of funds available for current operations. We did not record any impairment charges related to our marketable debt securities during the three months ended March 31, 2020 or 2019.
The following tables summarize our marketable debt securities:
As of March 31, 2020
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Certificates of deposit$5,141  $—  $(7) $5,134  
Commercial paper21,792  —  —  21,792  
Corporate notes114,592  9  (321) 114,280  
U.S. government-sponsored enterprise securities105,028  275  (6) 105,297  
U.S. treasury securities722,103  4,232  —  726,335  
Total$968,656  $4,516  $(334) $972,838  

As of December 31, 2019
(In thousands)Amortized
Cost		Gross
Unrealized
Gains		Gross
Unrealized
Losses		Fair Value
Certificates of deposit$4,303  $—  $(2) $4,301  
Commercial paper39,913  —  —  39,913  
Corporate notes146,016  58  (34) 146,040  
U.S. government-sponsored enterprise securities32,487  3  (2) 32,488  
U.S. treasury securities1,092,293  185  (71) 1,092,407  
Total$1,315,012  $246  $(109) $1,315,149  
The fair values of our marketable debt securities by classification in the condensed consolidated balance sheets were as follows:
(In thousands)As of March 31, 2020As of December 31, 2019
Cash and cash equivalents$136,492  $340,132  
Marketable debt securities836,346  975,017  
Total$972,838  $1,315,149