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Fair Value Measurements (Tables)
12 Months Ended
Dec. 31, 2019
Fair Value Disclosures [Abstract]  
Fair Value Measurements
The following tables summarize the fair value of financial assets and liabilities that are measured at fair value and the classification by level of input within the fair value hierarchy:
 
 
FAIR VALUE MEASUREMENTS AS OF
 
 
DECEMBER 31, 2019
(in thousands)
 
LEVEL 1
 
LEVEL 2
 
LEVEL 3
 
TOTAL
Cash and cash equivalents:
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
133,931

 
$
10,009

 
$

 
$
143,940

Total cash and cash equivalents:
 
$
133,931

 
$
10,009

 
$

 
$
143,940

Investments:
 
 
 
 
 
 
 
 
Commercial paper
 
$

 
$
64,622

 
$

 
$
64,622

Corporate bonds
 

 
60,564

 

 
60,564

U.S. government and government agencies
 

 
40,064

 

 
40,064

Total investments
 
$

 
$
165,250

 
$

 
$
165,250

Total cash, cash equivalents and investments:
 
$
133,931

 
$
175,259

 
$

 
$
309,190

 
 
FAIR VALUE MEASUREMENTS AS OF
 
 
DECEMBER 31, 2018
(in thousands)
 
LEVEL 1
 
LEVEL 2
 
LEVEL 3
 
TOTAL
Cash and cash equivalents:
 
 
 
 
 
 
 
 
Cash and cash equivalents
 
$
202,818

 
$

 
$

 
$
202,818

Total cash and cash equivalents:
 
$
202,818

 
$

 
$

 
$
202,818