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Investments (Tables)
 9 Months Ended
Sep. 30, 2020
Investments, Debt and Equity Securities [Abstract]  
Summary of Investments
Our investments consisted of the following (in thousands):
 
As of September 30, 2020
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Certificates of deposit
$
3,169

 
$
85

 
$
—

 
$
3,254

Commercial paper
19,987

 
—

 
(5
)
 
19,982

Corporate notes and bonds
442,616

 
5,407

 
(46
)
 
447,977

U.S. Treasuries
71,053

 
51

 
(12
)
 
71,092

U.S. Government agencies
85,446

 
149

 
(8
)
 
85,587

Total
$
622,271


$
5,692


$
(71
)

$
627,892


 
As of December 31, 2019
 
Amortized Cost
 
Gross Unrealized Gains
 
Gross Unrealized Losses
 
Estimated Fair Value
Certificates of deposit
$
5,118

 
$
27

 
$
—

 
$
5,145

Corporate notes and bonds
471,172

 
1,950

 
(214
)
 
472,908

U.S. Treasuries
48,086

 
2

 
(19
)
 
48,069

U.S. Government agencies
178,891

 
52

 
(110
)
 
178,833

Total
$
703,267

 
$
2,031

 
$
(343
)

$
704,955
Summary of Gross Unrealized Losses and Fair Value of Investments in a Continuous Unrealized Loss Position
The following tables present the gross unrealized losses and related fair values of our investments that have been in a continuous unrealized loss position (in thousands):
 
As of September 30, 2020
 
Less Than 12 Months
 
Greater Than 12 Months
 
Total
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Certificates of deposit
$
—

 
$
—

 
$
—

 
$
—

 
$
—

 
$
—

Commercial paper
19,982

 
(5
)
 
—

 
—

 
19,982

 
(5
)
Corporate notes and bonds
70,390

 
(43
)
 
9,669

 
(3
)
 
80,059

 
(46
)
U.S. Treasuries
58,886

 
(12
)
 
—

 
—

 
58,886

 
(12
)
U.S. Government agencies
21,995

 
(7
)
 
9,200

 
(1
)
 
31,195

 
(8
)
Total
$
171,253


$
(67
)

$
18,869


$
(4
)

$
190,122


$
(71
)

 
As of December 31, 2019
 
Less Than 12 Months
 
Greater Than 12 Months
 
Total
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
 
Fair Value
 
Unrealized Loss
Certificates of deposit
$
244

 
$
—

 
$
—

 
$
—

 
$
244

 
$
—

Corporate notes and bonds
117,271

 
(205
)
 
24,514

 
(9
)
 
141,785

 
(214
)
U.S. Treasuries
5,041

 
(2
)
 
33,996

 
(17
)
 
39,037

 
(19
)
U.S. Government agencies
91,221

 
(103
)
 
25,997

 
(7
)
 
117,218

 
(110
)
Total
$
213,777


$
(310
)

$
84,507


$
(33
)

$
298,284


$
(343
)
Summary of Contractual Maturities of Investments
The following table summarizes the contractual maturities of our investments as of September 30, 2020 (in thousands):
 
Amortized Cost
 
Fair Value
Due within one year
$
336,578

 
$
338,020

Due within one to three years
285,693

 
289,872

Total
$
622,271

 
$
627,892