Marketable Investment Securities (Tables)

9 Months Ended

Sep. 30, 2022

Investments, Debt and Equity Securities [Abstract]

Schedule of Marketable Investment Securities

The following table presents our Marketable investment securities:

	As of
	September 30, 2022		December 31, 2021
Marketable investment securities:
Available-for-sale debt securities:
Corporate bonds	$	227,482	$	289,784
Commercial paper	289,046		498,358
Other debt securities	12,917		92,673
Total available-for-sale debt securities	529,445		880,815
Equity securities	147,870		142,943
Total marketable investment securities, including restricted amounts	677,315		1,023,758
Less: Restricted marketable investment securities	(10,411)		(13,262)
Total marketable investment securities	$	666,904	$	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 September 30, 2022
Corporate bonds	$	228,094	$	48	$	(660)	$	227,482
Commercial paper	289,046		—		—		289,046
Other debt securities	13,032		—		(115)		12,917
Total available-for-sale debt securities	$	530,172	$	48	$	(775)	$	529,445
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 September 30,				For the nine months ended September 30,
	2022		2021		2022		2021
Proceeds from sales	$	—	$	128,423	$	37,904	$	390,918

Schedule of Activity of Equity Securities

The following table presents the activity of our equity securities:

	For the three months ended September 30,				For the nine months ended September 30,
	2022		2021		2022		2021
Proceeds from sales	$	34,121	$	546	$	34,374	$	776
Gains (losses) on investments, net	$	18,273	$	(1,260)	$	26,536	$	92,841

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 September 30, 2022
Cash equivalents (including restricted)	$	5,580	$	819,531	$	825,111
Available-for-sale debt securities:
Corporate bonds	$	—	$	227,482	$	227,482
Commercial paper	—		289,046		289,046
Other debt securities	10,411		2,506		12,917
Total available-for-sale debt securities	10,411		519,034		529,445
Equity securities	139,000		8,870		147,870
Total marketable investment securities, including restricted amounts	149,411		527,904		677,315
Less: Restricted marketable investment securities	(10,411)		—		(10,411)
Total marketable investment securities	$	139,000	$	527,904	$	666,904
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