Fair Value of Financial Instruments (Tables)

3 Months Ended

Mar. 31, 2020

Fair Value Disclosures [Abstract]

Fair Values of Financial Instruments Measured on a Recurring Basis

The fair values of the financial instruments we measure at fair value on a recurring basis are as follows (in thousands):

	March 31, 2020
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	310,815	$	—	$	—	$	310,815
Commercial paper	—		88,923		—		88,923
Marketable securities:
Corporate bonds	—		418,412		—		418,412
U.S. treasury securities	222,515		—		—		222,515
Commercial paper	—		159,177		—		159,177
Asset-backed securities	—		105,868		—		105,868
Certificates of deposit	—		89,903		—		89,903
Prepaid expenses and other current assets:
Certificates of deposit	—		4,287		—		4,287
Restricted cash:
Certificates of deposit	$	—	$	23,791	$	—	$	23,791

	December 31, 2019
	Level 1		Level 2		Level 3		Total
Cash equivalents:
Money market funds	$	214,413	$	—	$	—	$	214,413
Commercial paper	—		105,354		—		105,354
Corporate bonds	—		3,791		—		3,791
Certificates of deposit	—		2,914		—		2,914
Marketable securities:
Corporate bonds	—		450,433		—		450,433
U.S. treasury securities	201,640		—		—		201,640
Commercial paper	—		196,328		—		196,328
Asset-backed securities	—		114,599		—		114,599
Certificates of deposit	—		100,679		—		100,679
Prepaid expenses and other current assets:
Certificates of deposit	—		2,738		—		2,738
Restricted cash:
Certificates of deposit	$	—	$	25,339	$	—	$	25,339

Fair Value of Marketable Securities by Contractual Maturity

The fair value of our marketable securities by contractual maturity is as follows (in thousands):

	March 31, 2020
Due in one year or less	$	721,044
Due after one to five years	274,831
Total	$	995,875