Marketable Investment Securities (Tables)

3 Months Ended

Mar. 31, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Investment Securities

The following table presents our Marketable investment securities:

	As of
	March 31, 2022		December 31, 2021
Marketable investment securities:
Available-for-sale debt securities:
Corporate bonds	$	194,074	$	289,784
Commercial paper	221,670		498,358
Other debt securities	45,950		92,673
Total available-for-sale debt securities	461,694		880,815
Equity securities	186,226		142,943
Total marketable investment securities, including restricted amounts	647,920		1,023,758
Less: Restricted marketable investment securities	(13,327)		(13,262)
Total marketable investment securities	$	634,593	$	1,010,496

Schedule of Available-for-sale Securities Reconciliation

The following table presents the components of our available-for-sale debt securities:

	Amortized		Unrealized				Estimated
	Cost		Gains		Losses		Fair Value
As of March 31, 2022
Corporate bonds	$	194,877	$	—	$	(803)	$	194,074
Commercial paper	221,670		—		—		221,670
Other debt securities	46,169		—		(219)		45,950
Total available-for-sale debt securities	$	462,716	$	—	$	(1,022)	$	461,694
As of December 31, 2021
Corporate bonds	$	290,169	$	—	$	(385)	$	289,784
Commercial paper	498,358		—		—		498,358
Other debt securities	92,742		—		(69)		92,673
Total available-for-sale debt securities	$	881,269	$	—	$	(454)	$	880,815

Schedule of Activity on Available-for-sale Debt Securities

The following table presents the activity on our available-for-sale debt securities:

	For the three months ended March 31,
	2022		2021
Proceeds from sales	$	29,018	$	181,995

Schedule of Activity of Equity Securities

The following table presents the activity of our equity securities:

	For the three months ended March 31,
	2022		2021
Gains (losses) on investments, net	$	31,015	$	65,568

Schedule of Fair Value Measurements

The following table presents our marketable investment securities categorized by the fair value hierarchy, certain of which have historically experienced volatility:

	Level 1		Level 2		Total
As of March 31, 2022
Cash equivalents (including restricted)	$	20,995	$	766,867	$	787,862
Available-for-sale debt securities:
Corporate bonds	$	—	$	194,074	$	194,074
Commercial paper	—		221,670		221,670
Other debt securities	14,148		31,802		45,950
Total available-for-sale debt securities	14,148		447,546		461,694
Equity securities	175,404		10,822		186,226
Total marketable investment securities, including restricted amounts	189,552		458,368		647,920
Less: Restricted marketable investment securities	(13,327)		—		(13,327)
Total marketable investment securities	$	176,225	$	458,368	$	634,593
As of December 31, 2021
Cash equivalents (including restricted)	$	7,872	$	423,123	$	430,995
Available-for-sale debt securities:
Corporate bonds	$	—	$	289,784	$	289,784
Commercial paper	—		498,358		498,358
Other debt securities	14,274		78,399		92,673
Total available-for-sale debt securities	14,274		866,541		880,815
Equity securities	131,413		11,530		142,943
Total marketable investment securities, including restricted amounts	145,687		878,071		1,023,758
Less: Restricted marketable investment securities	(13,262)		—		(13,262)
Total marketable investment securities	$	132,425	$	878,071	$	1,010,496