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Fair Value Measurements (Tables)
3 Months Ended
Mar. 31, 2020
Fair Value Disclosures [Abstract]  
Summary of Financial Assets that are Measured at Fair Value on a Recurring Basis

The following tables present the Company’s financial assets that are measured at fair value on a recurring basis:

 

 

As of March 31, 2020

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

(In thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

$

380,532

 

 

 

—

 

 

 

—

 

 

$

380,532

 

Total cash equivalents

$

380,532

 

 

 

—

 

 

 

—

 

 

$

380,532

 

 

 

As of December 31, 2019

 

 

Level 1

 

 

Level 2

 

 

Level 3

 

 

Total

 

 

(In thousands)

 

Assets:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Cash equivalents:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Money market funds

$

364,127

 

 

 

—

 

 

 

—

 

 

$

364,127

 

Total cash equivalents

$

364,127

 

 

 

—

 

 

 

—

 

 

$

364,127